Disbursement of foreign investment exceeds 10 billion USD during the first 11 months of this year, an increase of 1 percent compared to the same period a year ago, the Foreign Investment Agency has announced.

The agency earlier set a target of 11-11.5 billion USD in disbursements for the entire year.

Despite over 1 billion USD in newly-registered foreign investment this month – the highest level of its kind since August – the total of this kind of investment in the first 11 months of the year still dropped by 16 percent against last year's total of 9.9 billion USD, the agency said.

However, 324 existing projects received approval to increase their level of investment by a combined total of nearly 2.8 billion USD during the period, up 50 percent year-on-year. The new additions have brought the total foreign direct investment registered between January and November to nearly 12.69 billion USD, an overall decline of 16 percent.

Among the period's largest foreign-invested projects are a 2.26 billion USD thermoelectric plant being developed by JAKS Hai Duong Power Co, a 400 million USD Chinese-invested tyre factory, and a 323 million USD plant to produce special glass for the electronics industry in the southern province of Ba Ria-Vung Tau.

The period also witnessed a shift in the target sectors of foreign investors. Over 6.2 billion USD, or half of total FDI, went towards the processing and manufacturing sector. Electricity, gas and water production and distribution ranked second with 2.5 billion USD, making up 20 percent, following by the construction sector with 1.19 billion USD. The real estate sector, which used to be the most attractive to foreign investors, drew only 445 million USD.

Hong Kong remained the leading source of foreign investment, with nearly 3.1 billion USD, accounting for 24.3 percent of the country's newly registered capital. It was followed by Japan (2.12 billion USD), Singapore (1.58 billion USD) and the Republic of Korea (1.16 billion USD).

The northern province of Hai Duong was the most popular destination for foreign investors, absorbing 2.56 billion USD, or 20 percent, of the nation's total FDI. HCM City followed with 2.15 billion USD, Hanoi with 1.1 billion USD and Ba Ria-Vung Tau with 9.13 million USD./.