HANOI, 28th January, 2016 (WAM) — Vietnam drew more than US$1.3 billion in newly-registered and additional capital from foreign direct investment (FDI) projects in January, up 101.2 percent against the same period last year.

As of January 20th, the country granted new investment licences to 127 projects worth over $1 billion, a year-on-year rise of 157.9 percent, Vietnam News Agency (VNA) reported, citing the Ministry of Planning and Investment’s Foreign Investment Agency.

Meanwhile, 56 projects registered an additional $323.4 million to their capital, up 19.2 percent.

The disbursement of FDI projects is estimated to reach $800 million, a yearly increase of 23.1 percent.

The foreign investment sector also recorded $9.74 billion in exports (including crude oil), an annual rise of 3.2 percent, making up 70.6 percent of Vietnam’s total export turnover.

Overseas businesses pumped investment into 16 sectors, particularly processing and manufacturing, which attracted 58 newly-registered projects and over $905 million in both new and additional capital, accounting for 67.8 percent of the total registered investment in January.

Over the month, 24 countries and territories ran investment projects in Vietnam. Singapore took the lead with the total newly-registered and additional capital of $295.47 million, accounting for 22.1 percent of the total investment.

Malaysia and China were in second and third with $243.57 million and $179.51 million respectively, making up 18.2 percent and 13.4 percent of the total investment.

Foreign investors injected money into 29 cities and provinces across Vietnam, with Hanoi being the most attractive destination attracting 15 newly-licensed projects while seven increased their capital, worth $243.51 million in total or 18.2 percent of the country’s total investment.

The second and third most popular regions were southern Dong Nai province and Ho Chi Minh City, with a respective total newly-registered and additional capital of $183 million and $163.43 million.