This is due to new stricter regulations that go into effect in 2014 requiring higher technology projects, less environmental pollution, and more added value, he said.

Economic experts warn Vietnam’s investment climate will be less attractive unless it further upgrades infrastructure and accelerates administrative reforms.

They say the country needs to draw up a new strategy for attracting FDI this year.

Vietnam lured nearly US$22 billion in FDI in 2013. Key contributors included the processing and manufacturing, production, electricity and real estate industries.