According to fDi Markets there were 18 projects recorded in 2008 and 23 in 2009, representing a growth of 28%.

A report published by UK Trade and Investment which surveyed 520 global executives, highlighted that Vietnam was one of the top ten global investment targets.

The report also showed that Vietnam was actually the second most preferred investment destination, next to China, but ahead of India.

While capital expenditure has also grown, it has slowed in recent years. It had been growing significantly until 2008 with a peak of $65.88bn, but declined in 2009 to $50.71.

To date this year, capital expenditure has reached $29.8bn, making it likely that it will fall short of 2008’s levels.

FDI into Vietnam has accelerated since the country joined the World Trade Organisation in 2007.