The figure comprised newly registered capital (which accounted for 24% of total) and adjusted capital, according to the Ministry of Planning and Investment.
In all sectors, foreign direct investment surged 33% to $21.5 billion. Newly registered capital alone dropped 10% to $9.3 billion.
Singapore was the biggest foreign investors with over $2.4 billion, accounting for nearly 26% of newly registered capital, followed by China, Sweden, and Japan.
Despite global economic and geopolitical challenges, Vietnam remains a standout destination in the region, bolstered by a stable macroeconomic foundation, consistent open-door policies, and strong long-term growth potential, analysts say.
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Buildings in downtown Ho Chi Minh City. Photo by VnExpress/Quynh Tran |
Nguyen Hoai An, senior director at CBRE Hanoi, emphasized that changes in three key laws – Land, Real Estate Business, and Housing – effective from August 1, 2024, have “contributed to creating a transparent and secure legal framework for investors, facilitating easier access to land.”
Infrastructure development is also a significant driver of foreign direct investment inflows into real estate.
An noted that major projects, including the North-South Expressway, Long Thanh International Airport, and ring roads in Hanoi and HCMC, are “fueling a shift toward peripheral areas.”
She added that foreign businesses are increasingly expanding into satellite markets with abundant land and robust technical and transport infrastructure.
Nguyen Le Dung, head of investment advisory at property consultancy Savills Hanoi, highlighted Vietnam’s efforts to strengthen comprehensive strategic partnerships with multiple countries, which are “enhancing the market’s appeal, including in real estate, for foreign enterprises.”
She pointed out that emerging segments like data centers and flexible cooperation models are shaping the global market.
Vietnam’s strategic geographic location, dynamic economic policies, and young population position it as a prime destination for data center investments.
The Telecommunications Law 2023, effective from early 2025, with “more flexible and open regulations,” will further support this sector’s growth and attract additional foreign investment, she added.
Despite short-term fluctuations, Vietnam maintains its competitive edge and potential for foreign investors.
She identified three key drivers for continued foreign capital inflows into property in the second half: an improved legal framework, proactive economic diplomacy, and the potential for emerging market segments.
