Total realised investment capital reached VND744.7 trillion (US$28.26 billion) in the January–March period, up 10.7% year-on-year and higher than the 9.4% growth recorded in the same period of 2025.

Growth was broad-based across all three economic sectors. The non-State sector remained the largest contributor, with VND402.4 trillion, accounting for 54.1% of the total and rising 9.8% year-on-year.

The State sector recorded VND207.2 trillion, making up 27.8% and increasing 11.6%, while the foreign-invested sector reached VND135.1 trillion, or 18.1%, up 11.8%.

State budget-funded investment was estimated at VND133.2 trillion, equivalent to 14.5% of the annual plan and up 12.1% compared to the same period last year. Of this, centrally managed capital totalled VND18.6 trillion, fulfilling 10% of the yearly target, while locally managed funds reached VND114.6 trillion, or 15.7%. Notably, commune-level budget investment surged 23.5%, significantly outpacing the 9.2% growth at the provincial level.

Foreign direct investment (FDI) inflows also saw robust expansion. As of March 31, total registered FDI reached US$15.2 billion, up 42.9% year-on-year. Newly registered capital accounted for US$10.23 billion across 904 projects, up 6.4% in project numbers and 2.4 times in value.

Manufacturing and processing continued to dominate, attracting US$7.07 billion, or 69% of newly registered capital, followed by electricity, gas and water production and distribution with US$2.28 billion, representing 22.3%.

Adjusted capital declined to US$2.3 billion, down 55.1%, while capital contributions and share purchases surged to US$2.66 billion, 2.3 times higher than a year earlier, driven largely by wholesale, retail, and vehicle repair activities.

Disbursed FDI reached US$5.41 billion, up 9.1% year-on-year and the highest first-quarter figure in the past five years, with manufacturing accounting for the lion’s share.

Meanwhile, Vietnam’s outbound investment climbed to US$619.9 million, 2.6 times higher than the same period last year, with Laos remaining the largest recipient.

Despite the positive momentum, experts cautioned that the spillover effects of public investment remain limited, potentially constraining its role as a key growth driver amid subdued consumption and export recovery.

Rise in social investment reflects business, production recovery: GSO

Total social investment in 2024, based on current prices, is estimated at VND3.69 quadrillion (US$145.36 billion), an increase of 7.5% compared to 2023, signalling a positive recovery in production and business activities, reported the General Statistics Office (GSO).