FDI flow into HCM City surges 50 percent in first nine months
Foreign direct investment (FDI) in Ho Chi Minh City rose sharply in the last nine months, with 5.47 billion USD poured into the southern economic hub over the period, up 50 percent year on year.
The Viet-Pan Techno Park, invested by Japan, in Nha Be district of HCM City (Photo: VNA)Hanoi (VNA) – Foreign direct investment (FDI) in Ho Chi Minh City rose sharply in the last nine months, with 5.47 billion USD poured into the southern economic hub over the period, up 50 percent year on year.
The property sector received 20.2 percent of the FDI capital.
The FDI flow mostly came from the Republic of Korea (28.1 percent), Singapore (25.7 percent), Norway (11 percent) and Japan (10 percent), according to the municipal People’s Committee.
Between January and September, new and additional domestic capital registered in HCM City hit nearly 673.49 trillion VND (28.66 billion USD), up 11.2 percent from a year earlier. The figure included more than 372.43 trillion VND (15.85 billion USD) in 30,600 new businesses and 301 trillion VND (12.8 billion USD) added to existing firms.
Real estate attracted the most capital in the period, with 40.7 percent
Regarding the continuous increase of capital poured into the property market, insiders predicted the sector will witness an even stronger capital influx in the remaining months of 2018.-VNA
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