FDI has played a crucial role in Vietnam's economic development over the past few decades. (Photo: VOV)

Most of the new FDI projects are in Hanoi, Ho Chi Minh City, Bac Giang, Binh Duong, Hai Phong, Bac Ninh, and Dong Nai, all of which have advantages of infrastructure and reformed administrative procedures.

Mai Son, Deputy Chairman of Bac Giang province’s People's Committee, said, “To attract foreign investment, Bac Giang has focused on compensation for land clearance and established a working group led by a provincial leader to address all problems and difficulties faced by investors. We have created favorable conditions for FDI businesses in labor recruitment.”

The growth of new FDI projects in the first 6 months has kept Vietnam a leader in FDI from multinational companies.

Sam Cheong, Head of Foreign Direct Investment Advisory and Network Partnerships of UOB Group, said that Vietnam will continue to be one of the fastest growing economies in Southeast Asia and an important strategic market for many businesses.