Asia's New Factory Floor: A Decade of FDI Into Vietnam in Numbers

Disbursed FDI hit a record USD 27.62bn in 2025, almost double 2015. That capital is creating wealth – and a generation of founders who need a second base.

In 2025, foreign direct investment actually disbursed in Vietnam reached about USD 27.62 billion – the highest on record and almost double 2015. Foreign-invested firms produced 77.3% of the country's exports, and in the first seven months of 2026 Vietnamese goods made up about 7.1% of all US goods imports, nearly level with China. The "factory of Asia" story isn't only about factories. It is creating a class of Vietnamese founders, suppliers and investors who are getting wealthy quickly – and who are heavily exposed to a handful of markets and policies.

Most FDI coverage focuses on which province landed how much capital or which conglomerate just opened a plant. This piece takes a different angle: how the flow has grown over ten years, where it comes from, and why that very success is prompting many Vietnamese business families to think about a second residence.

A Decade of Disbursement: From USD 14.5bn to 27.62bn

Two FDI figures get quoted. Registered capital is a commitment on paper; disbursed capital is money that actually reaches factory floors, machinery and payrolls. For investors, the second is the more reliable signal. In 2015 disbursements came to about USD 14.5 billion. The figure rose year after year, paused during the two pandemic years, then set fresh records back to back: USD 25.35 billion in 2024 and USD 27.62 billion in 2025.

The pandemic paused the flow; it didn't reverse it. Even in 2020 and 2021, disbursements held at around USD 20 billion a year. Investors with plants already in Vietnam kept spending because their supply chains had taken root.

Most of the money goes into manufacturing. In 2025 processing and manufacturing absorbed about USD 22.88 billion of disbursed FDI, or 82.8% of the total. Real estate took only around USD 1.93 billion. This is capital that builds factories, not speculative money.

Registered Capital: 2026 Could Set a New High

Registered capital swings more, because a few mega-projects can lift or sink a whole year. In 2025 total registrations reached USD 38.42 billion, just 0.5% above the year before. But in the first eight months of 2026 the figure had already climbed to USD 40.63 billion – more than all of 2025 – while disbursements reached USD 17.25 billion, the strongest eight-month result in five years.

New projects are getting much bigger. In the first eight months of 2026, newly registered capital reached USD 21.72 billion, up 96.8%, while the number of projects rose only 9.4%. The average new project is far larger, often in electronics components, energy and infrastructure.

Most disbursed FDI is capital that builds factories, not speculative money.

Where the Money Comes From

Singapore, South Korea, Hong Kong, China and Japan are the five biggest sources. In 2025 Singapore led with about USD 4.8 billion in new-project capital and China came second with USD 3.6 billion. In 2026 South Korea has surged.

Singapore is often a conduit. Part of the capital registered from Singapore and Hong Kong comes from groups headquartered elsewhere that run their regional holding companies there. So country rankings show where money passes through, not always who ultimately owns it.

From Factory to US Port: Nearly Level With China

The result of ten years of FDI is clearest in the trade data. In 2025 Vietnam's total trade reached about USD 930.05 billion, against roughly USD 328 billion in 2015. Exports came to USD 475.04 billion, with foreign-invested firms contributing 77.3% while the domestic sector's exports fell 6.1%.

According to US Census Bureau data, the US imported about USD 193.9 billion of Vietnamese goods in 2025, and USD 149.6 billion in just the first seven months of 2026. Over the same span China's share fell from 21.5% in 2015 to 7.5%.

A note on the data. Vietnamese customs put 2025 exports to the US at about USD 153.2 billion, well below the US figure. The gap comes from valuation methods, goods routed through third countries and timing differences. Whichever source you use, the trend is the same: Vietnam leans more and more on one very large export market.

Who This Success Creates – and What They Need

Behind every foreign-owned plant stand hundreds of Vietnamese firms in supply, logistics, industrial-park construction, factory leasing and services for expatriate staff. That's where a new class of founders is forming, many with Korean, Japanese or Singaporean partners and used to doing business across borders.

The more tightly a founder is plugged into global supply chains, the more the family's wealth shares the same risks.

Dependence is the flip side of growth. When 77% of exports come from the foreign-invested sector and one market accounts for most of the surplus, every shift in tariffs, rules of origin or exchange rates hits revenue directly. The more tightly a founder is plugged into global supply chains, the more the family's wealth shares the same risks.

That's why a second residence becomes a business question. Residence in Dubai, Cyprus or elsewhere in Europe makes travel easier, opens the door to accounts and entities in another financial centre, and lets the family hold part of its wealth outside the dong.

A practical strategy for Vietnamese investors

Separate family wealth from the business cycle. If the company is tied to export supply chains, family assets belong somewhere with a different risk profile.

Pick a hub that serves the business. Dubai has a dense trade, logistics and finance ecosystem; a project like Binghatti Mercedes-Benz Places can be both a base for business trips and an asset in a dollar-pegged currency.

Consider a foothold inside the EU. For firms with European customers, permanent residence in Cyprus – for example through Limassol Del Mar – provides a legal base inside the bloc.

Move ahead of the policy cycle. Tariffs and rules of origin can change quickly. Residency applications often take from several months to more than a year, so preparing while business is good is always easier than preparing under pressure.

Frequently asked questions

What's the difference between registered and disbursed FDI?

Registered capital is what investors commit when they're licensed; disbursed capital is what they have actually spent. Disbursement is the better gauge of real economic activity.

Is FDI still growing in 2026?

In the first eight months of 2026, registered capital reached USD 40.63 billion and disbursements USD 17.25 billion, both above the same period last year. The full-year outcome still depends on US trade policy and global demand.

Why should export-focused founders care about foreign residency?

Because their revenue, assets and residence often carry the same set of risks. A second residence gives the family more options for travel, finance and children's education.

NAC strategic insight

A decade of FDI has turned Vietnam from a low-cost assembly point into a hard-to-replace link in global supply chains. The wealth it has created is real. But when the business, the assets and the whole family sit in one country, one currency and one main export market, the risks concentrate too.

NAC works with founders to design a second base that fits the business: choosing the hub, vetting the attached assets and modelling cash flows across currencies. If you'd like to start from your own business model, book a consultation with NAC.

Sources

• Vietnam News — FDI inflows into Việt Nam exceed $38 billion in 2025 (2026)
• VnEconomy — Disbursed FDI hits five-year high of $17.25 bln in 8M (2026)
• Antidumping.vn — Viet Nam's foreign trade hits record over US$930 billion in 2025 (2026)
• US Census Bureau — Trade in Goods with Vietnam (2026)
• ITPC — FDI disbursement hits record $25.35 billion in 2024 (2025)