Vietnam received an estimated $17.5 billion in foreign direct investment (FDI) in 2017, up 10.8 percent from the previous year, the government's ministry of planning and investment said.

This was in line with the government's expectation in November.

FDI pledges for new projects, increased capital and stake acquisitions jumped 44.4 percent from a year ago to $35.88 billion, the ministry said in a report published on its website.

The manufacturing and processing sector received the most foreign funds in 2017, the report said, followed by electricity production and distribution.

Japan, South Korea and Singapore were the biggest foreign investors in Vietnam.

FDI is a key source of growth for Vietnam's export-driven economy, which received $15.8 billion in FDI inflow last year.