Foreign direct investment (FDI) pledges in Ho Chi Minh City between January 1 and July 15 dropped 65.2 percent from the same period last year to US$863.6 million, according to new data.
A report from the city's statistics department said 448 new projects were licensed in the period with committed capital totaling $638.1 million.
Another $225.5 million was added to 78 existing projects, it said.
Most of the funds were for the real estate, trading, manufacturing and processing sectors.
Cayman Islands was the top investor among 42 countries and territories with $230.5 million, or 36 percent of the pledges.
Japan came second with $96.1 million, followed by Singapore with $87.2 million.