Flow of FDI to HCM City up 56.7 percent hinh anh 1Hi-tech electronic components produced at Japan’s Nidec Sankyo Vietnam Ltd. Company in HCM City. (Photo: VNA)
HCM 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, it approved 401 foreign investors’ registration to contribute capital, purchase shares and buy back financial contributions from the city’s firms to the tune of 352 million USD.

Malaysia topped the city’s FDI sources with over 44 million USD (33.3 percent of the total), followed by Japan with 29 million USD (22 percent) and the Netherlands with 16 million USD (12 percent). Information and communications sector was the top sector, luring 51.77 million USD, or 38.7 percent, as much as 3.1 times over the same period last year.

The municipal Planning and Investment Department has launched an online investment registration system for foreign investors who want to contribute capital to firms in the city. After five months of operation, the system received 432 documents. The second phase of the programme will include other procedures.

Regarding domestic investment, more than 7,900 new enterprises with a total registered capital of 99.4 trillion VND (4.3 billion USD) were licensed by the city, up 14 and 61.7 percent respectively over corresponding figures last year.-VNA