HCM City’s FDI attraction inches up 3.4 percent in ten monthsFriday, November 8,2019
AsemconnectVietnam - Ho Chi Minh City attracted 6.17 billion USD in foreign direct investment (FDI) during January-October, a year-on-year increase of 3.4 percent, the municipal Department of Planning and Investment has said.
Ho Chi Minh City attracted 6.17 billion USD in foreign direct investment (FDI) during January-October, a year-on-year increase of 3.4 percent, the municipal Department of Planning and Investment has said.
Of the total FDI, 1.07 billion USD came from 1,046 newly registered projects, up 46.5 percent in value and 23.2 percent in the number of projects as compared to the same time last year.
In the period, 4,694 foreign investors bought shares and acquired stakes of domestic enterprises with total registered capital of 4.3 billion USD, up 44.9 percent in the number of investors and down 14.3 percent in the number of capital from the same time in 2018.
The real estate market was the most attractive sector for FDI capital as 455 million USD was poured in 41 projects, followed by science and technology activities with 247 projects worth 241 million USD, and trade with 456 projects valued at 175.6 million USD.
According to the department, Singapore was the leading foreign investor among 64 countries and territories investing in the southern hub, with 324 million USD registered in 139 projects. British Virgin Islands came second with 13 projects worth 179.4 million USD, followed by the Republic of Korea with 214 projects worth 171.9 million USD.
Also in the ten-month period, the department granted business licences to 36,266 new domestic enterprises, who registered 543.48 trillion VND (23.37 billion USD) in investment.
Director of the Planning and Investment Department Le Thi Huynh Mai said the city effectively organised 12 trade and investment promotion programmes both inside and outside the country, business matching events to lure more investment in the city while helping local firms to introduce their products and develop export markets.
Besides, the city also had working sessions with 16 domestic and foreign delegations who came to study local business environment, she added.
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