Vietnam attracted US$1.423 billion in both new and additional foreign direct investment (FDI) in January, up 23 per cent year on year, according to the General Statistics Office.

Meanwhile, disbursement was estimated at US$850 million, a 6.3 per cent increase over the same month last year.

FDI pledges in January mainly flowed to the manufacturing sector, with US$834.9 million or more than two thirds of total investment, followed by US$297.4 million in the property sector.

In January the southern province of Binh Duong was the largest recipient of FDI, attracting over US$666 million. Bac Giang and Ba Ria–Vung Tau came in second and third with US$159.5 million and US$108.7 million, respectively.

The two economic hubs of Ho Chi Minh City and Hanoi received respective pledges of US$75.2 million and US$30 million.

Singapore was the largest foreign investor last month, accounting for nearly one third of the total investment in Vietnam, followed by the Republic of Korea and China.