FDI Attraction in the First 11 Months: The Strong Comeback of M&A Activity

FDI into Vietnam as of 30 November 2025, total registered foreign investment into Vietnam (including newly registered capital, adjusted capital, and capital contributions and share purchases by foreign investors) reached USD 33.69 billion, up 7.4% year-on-year.

Newly registered capital

Newly registered capital accounted for the largest share, with 3,695 newly licensed projects and total registered capital of USD 15.96 billion, representing a 21.7% increase in the number of projects compared to the same period last year; however, the value of registered capital declined by 8.2%.

• By sector: Manufacturing and processing led with USD 9.17 billion, accounting for 57.5%; followed by real estate business with USD 3.14 billion (19.7%); other sectors totaled USD 3.36 billion (22.8%).
• By investment partners: Singapore was the largest investor with USD 4.29 billion (26.9%), followed by China with USD 3.40 billion (21.3%); Hong Kong SAR (China) with USD 1.66 billion (10.4%); Japan (9.8%); Sweden with USD 1.0 billion (6.3%); Taiwan (China) (6.0%); and South Korea (4.1%).

Adjusted capital and capital contributions, share purchases

Adjusted capital: There were 1,318 projects licensed in previous years that registered additional investment capital totaling USD 11.62 billion, up 17.0% year-on-year.

Capital contributions and share purchases: 3,225 transactions were recorded with a total value of USD 6.11 billion, an increase of 50.7% year-on-year.

• By sector: Manufacturing and processing remained the leading sector with USD 2.0 billion, accounting for 32.7% of total contributed capital; followed by professional, scientific and technological activities with USD 1.13 billion (18.5%); other sectors totaled USD 2.99 billion (48.8%).

According to data from the General Statistics Office under the Ministry of Finance, realized foreign direct investment (FDI) in Vietnam in the first 11 months of 2025 is estimated at USD 23.6 billion, up 8.9% year-on-year. This is the highest level of realized FDI for the first 11 months in the past five years, reflecting strong confidence among foreign enterprises in Vietnam’s policies and investment environment. Specifically:

• Manufacturing and processing reached USD 19.56 billion, accounting for 82.9%;
• Real estate business reached USD 1.67 billion, accounting for 7.1%;
• Electricity, gas, hot water, steam and air-conditioning supply reached USD 754.9 million, accounting for 3.2%.

In line with recent trends, the value of newly registered capital continues to decline slightly due to the absence of large-scale projects, highlighting the need for further improvements in the investment environment to attract high-quality capital. However, the sharp increase in the number of projects (up 21.7%) demonstrates strong and broad-based interest from the SMEs sector. Adjusted capital and investment through capital contributions and share purchases have maintained solid growth, while disbursed capital reached its highest level in the first 11 months of the five years. The continuous expansion by existing investors is clear evidence of their long-term confidence in Vietnam’s macroeconomic stability and growth potential.

Notably, capital contributions and share purchases have been exceptionally vibrant, with a surge in growth reflecting the strong return of M&A activity. In particular, capital inflows into professional, scientific and technological activities (USD 1.13 billion) maintained the second-largest position behind manufacturing, indicating an increasingly clear trend toward investment in knowledge-intensive and high-technology sectors fully aligned with Vietnam’s investment attraction and development strategy.

Read FDI report in the first 10 months of 2025 here