HCM City draws more 1.37 billion USD in foreign investment
Ho Chi Minh City attracted 1.37 billion USD in foreign direct investment (FDI) in the first five months of 2017, a year-on-year increase of 45.8 percent.
Illustrative image (Source: VNA)According to the municipal Department of Planning and Investment, the southern metropolis granted investment licences to 283 new projects worth 341.98 million USD and allowed 81 existing ones to increase capital of 287.05 million USD.
The city also permitted 775 foreign investors to register to contribute capital to and buy shares in businesses, with a total capital of 742.2 million USD.
The processing and manufacturing industry was the most attractive with nearly 123 million USD (making up 35.9 percent), followed by wholesale and retail, and automobile and motorcycle repair with over 92 million USD (27.1 percent), information and communications with 55 million USD (16.2 percent), and real estate activities with 40.25 million USD (11.8 percent).
In January-May, the total newly registered and supplemented capital from domestic enterprises was over 453.5 trillion VND (19.67 billion USD), 2.4 times higher than the same period last year.
HCM City plans to develop 60,000 businesses in 2017. The municipal authorities have so far encouraged 413 business households to turn themselves into enterprises.-VNA
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