Vietnam attracted a total of US$12.54 billion in foreign direct investment (FDI) in the first nine months of this year, down 78.6 percent from the same period last year.

Of the total sum, US$7.67 billion was committed for 583 newly-licensed projects, representing a year-on-year decrease of 85.7 percent, reported the Ministry of Planning and Investment’s Foreign Investment Department.

The remaining US$4.86 billion was added to 168 operational projects, up 7 percent year-on-year.

The additional capital extended in the first nine months showed the confidence of foreign investors in the recovery and development potential of Vietnam ’s economy.

The business and service industry lured the largest volume of FDI, with hotel and restaurant services recording almost US$4.57 billion and real estate posting US$3.65 billion. They were followed by the processing and manufacturing sector, drawing US$2.53 billion.

Providing a total in funding of US$3.95 billion, the US topped the list of 38 countries and territories investing in Vietnam so far this year.

During the reviewed period, the country's FDI disbursement was estimated at US$7.2 billion, an 11.1 percent decrease year-on-year.