Some US$2.7 billion worth of direct foreign investment was disbursed in the first quarter of this year, according to a General Statistics Office report.

FDI disbursement increased by 7 percent compared to the same period last year, while newly registered and expanded FDI also rose 63.3 percent year on year to $6.03 billion, the report said.

As of March 20, 191 new projects nationwide were licensed with a combined registered capital of $2.93 billion, up by 2.2 percent year-on-year. In the meantime, 71 existing projects received additional funding worth some $3.1 billion, a huge increase of 277 percent.

The highest amount of foreign investment was recorded in the processing and manufacturing sector, with 84 new projects. Total newly-registered and additional capital to the sector is some $5.53 billion, or 91.8 percent of the capital registered in Q1.

Japan remained Vietnam’s largest investor with a total newly-registered and additional investment of $3.15 billion. It was followed by Singapore, South Korea, Taiwan and Hong Kong.

The northern province of Thanh Hoa topped the list of localities with the largest FDI attraction. A $2.8 billion additional investment was pledged for the Nghi Son Refinery in the province. Thai Nguyen, Binh Duong, Dong Nai, and Hai Phong came in the next positions.