FDI to Ho Chi Minh City increases by 56.7 percent in Q1 hinh anh 1High-tech electronic components produce at Japan's Nidec Sankyo Vietnam Lmt. Company in Ho Chi Minh City (Photo: VNA)
Ho Chi Minh City (VNA) – Ho Chi Minh City attracted 574.71 million USD in foreign direct investment (FDI) in the first quarter of 2017, a year-on-year increase of 56.7 percent, according to the municipal Department of Planning and Investment. 

The city granted investment certificates to 141 projects with a total investment of 133 million USD and 42 existing projects with a combined capital of over 89 million USD. 

Besides, the city approved 401 foreign investors’ registration for contributing capital, purchasing shares and buying back financial contributions to the city’s firms with a total capital of 352 million USD.

Malaysia topped the city’s FDI sources with over 44 billion USD (33.3 percent of the total), followed by Japan with 29 billion USD (22 percent) and the Netherlands with 16 million USD (12 percent). 

Information and communications sector was the top sector, luring 51.77 billion USD, or 38.7 percent, as much as 3.1 times to the same period last year.  

The sector was followed by the automobile and motorbike wholesale, retail and maintenance with 40.39 million USD or 30.3 percent, and manufacturing and processing with 10.74 million USD or 8.1 percent of the city’s total FDI. 

Besides, the planning and investment department launched an online investment registration system for foreign investors who want to join capital to firms in the city. After five months of operation, the system received 432 documents. The second phase of the programme is being applied to some other procedures.

Regarding domestic investment, more than 7,900 new enterprises were licensed with a total registered capital of 99.4 trillion VND (4.3 billion USD), up 14 percent in the number and 61.7 percent in the capital.-VNA