ASEAN member-countries have invested nearly US$17.5 billion in Vietnam this year, accounting for 40 per cent of the total foreign direct investment in the period.
Most ASEAN projects have been on a large scale and focused on property development.
Oil-rich Brunei has invested $4.41 billion in 14 projects, with a single project by the New City Properties Development Company accounting for $4.3 billion. The project involves construction of a complex of luxury hotels, resorts and amusement facilities in Phu Yen Province.
Brunei has jumped from 27th place to 10th out of 81 countries and territories investing in Vietnam.
Malaysia has signed 28 new projects with a total investment of $5.07 billion.
The biggest, a university urban area in HCM City by Berjaya Leisure Corporation, involves an investment of $3.5 billion.
Singapore is set to invest $4.02 billion in 48 projects, including a $1.2 billion telecom joint venture in the southern hub.
Thai firms have been licensed to invest $4 billion in 16 projects. The Long Son oil refinery plant in Ba Ria-Vung Tau accounts for $3.7 billion of that amount.
Other ASEAN investors include the Philippines with 37 projects and $277 million, Indonesia with 21 projects and $178 million, Laos with nine projects and $48 million, and Cambodia with six projects and $6 million.
The bloc has, to date, 1,086 projects involving a total investment of $33.85 billion, or 25 per cent of the total foreign investment in the country.
Most ASEAN firms are involved in real estate, manufacturing, tourism, trading, food and drinks processing.
Vietnamese businesses too are stepping up investments in ASEAN countries.
Vietnam has a cumulative investment of $1.66 billion in 190 projects in these countries.
It has 123 projects worth $1.28 billion in Laos, seven projects worth $163 million in Malaysia, 34 projects worth $153 million in Cambodia, 19 projects worth $29 million in Singapore, three projects worth $21 million in Indonesia, and four projects worth $10 million in Thailand.
Vietnamese investment in ASEAN countries is mainly in hydropower projects, trading, transportation, health care, rubber farming, timber exploitation, and services. (Source: Viet Nam News)