Vietnam's real estate industry has magnetized ASEAN investors.
Eight ASEAN countries have poured $56.85 billion into 2,705 investment projects in Vietnam as of October 20, making up one fifth of total foreign direct investment in the country, according to the Ministry of Planning and Investment’s Foreign Investment Authority.
an businesses, including Vietnam-Singapore Industrial Park Company, have put $33.92 billion in Vietnam, making it the largest investor in the country. It is followed by Malaysia with $13.35 billion and Thailand with $7 billion.
The manufacturing and processing sector has been the most appealing to ASEAN investors, with $22.32 billion, followed by the real estate sector with $16.9 billion and the construction industry with $3.34 billion.
Ho Chi Minh City is the most favorite destination for ASEAN businesses, which have rolled out 1,576 projects worth $14.45 billion in the city. The runners-up are Hanoi attracting $7.6 billion and Ba Ria-Vung Tau drawing $6.68 billion.