The real estate project has been licensed in March and will be jointly developed by Vietnam’s Becamex IDC and Japan’s Tokyu Corporation.

According to the Foreign Investment Agency, the project has helped raise total registered FDI capital in March to US$1.23 billion, equivalent to the whole of the total registered FDI capital of the two previous months.

Processing and manufacturing industries ranked second, with 51 newly-licensed projects and 25 operational projects registering to increase capital, capitalised at US$1.17 billion, accounting for 44.6 percent of the total registered investment capital.

Transport and warehousing placed third, with total newly-licensed and increased capital reaching US$180 million.

The large-scale projects in March all belong to Japanese investors, including the US$1.2 billion Tokyu Binh Duong Garden City project, the US$575 million project of the Bridgestone Tyre Co, Ltd, and the US$180 million project of the Oshima Shipbuilding Group.

It is estimated that Vietnam has disbursed US$252 billion in FDI in the first quarter, equivalent to 99.2 percent of the same period last year. In March alone, FDI disbursement reached US$1.52 billion.