The agency earlier set a target of US$11-11.5 billion in disbursements for the whole year.

Despite over US$1 billion 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 per cent against last year's total of US$9.9 billion, the agency said.

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

Among the period's largest foreign-invested projects are a US$2.26 billion thermoelectric plant being developed by JAKS Hai Duong Power Co, a US$400 million Chinese-invested tyre factory, and a US$323 million 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, 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, making up 20 per cent, following by the construction sector with $1.19 billion. The real estate sector, which used to be the most attractive to foreign investors, drew only $445 million.

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

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