Friday, August 18, 2017 - 8:27:26

HCM City grants licences to five FDI projects

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Ho Chi Minh City has granted investment licences to five foreign direct investment (FDI) projects with a total capital of 220 million USD.

The newly registered and additional investment came from businesses from Japan, Germany and Hong Kong (China).

Addressing the granting ceremony on June 21, Chairman of the municipal People’s Committee Le Hoang Quan said this shows foreign investors’ confidence in the city’s investment climate as well as their commitment to doing long-term business here.

In the time ahead, the city will continue measures to ensure transparent administrative procedures and security for investors while further assisting them in terms of infrastructure and human resource training, he added.

Hans-Dieter Stell, German Consul General in HCM City, said that running business in the city and Vietnam in general, German investors wish to not only make profits but also enhance all-round exchanges between the two countries and their people.

The sharing of experience and cooperation for sustainable development are vital to Vietnam-Germany strategic partnership, he stressed.

Takashi Sakakibara, Deputy General Director of the Japan-based Nikken Incorporation, which is one of the five investors on the occasion, said his company now pours only 711.000 USD in HCM City and the investment is expected to increase in the next two years, focusing on mechanics, machinery manufacturing and automobile components.

He also highly valued the investment climate in the city, with abundant labour force and favourable investment policies.
Since the beginning of this year, Ho Chi Minh City has provided investment permits for 169 new FDI projects with a total registered capital of 967 million USD, according to the municipal Department of Planning and Investment.

Besides, some 110 million USD have been added to 53 operational projects, bringing the total foreign investment inflow in the city in the reviewed period to nearly 1.08 billion USD, doubling the number of the same period last year.-VNA
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