Business

Foreign investment in HCM City picks up in first two quarters

Ho Chi Minh City, Vietnam’s largest economic hub in the south, has attracted 1.2 billion USD in foreign direct investment (FDI) in the first six months of the year, up 12.2 percent compared to the same period in 2014.
Ho Chi Minh City, Vietnam’s largest economic hub in the south, hasattracted 1.2 billion USD in foreign direct investment (FDI) in thefirst six months of the year, up 12.2 percent compared to the sameperiod in 2014.

According to the municipal People’s Committee,the city has granted investment licences to 258 projects with a totalregistered capital of 798.4 million USD while 84 operational projectsadded 409.9 million USD to their capital.

During the six-monthperiod to June, the city’s export processing zones and industrial parksalso saw a surge in the amount of investment capital, which reached 623million USD, making up 89 percent of the yearly plan and up 87 percentcompared to the first two quarters last year.

Currently, thereare nearly 1,370 operational projects in the city’s export processingzones and industrial parks with total capital of nearly 8.8 billion USD.

FDIincrease shows improvement in the investing climate and efficiency ofthe city’s policies to attract foreign investment, said Thai Van Re,Director of the municipal Department of Planning and Investment, addingthat FDI projects landing in the city are shifting to high-technologyand sustainable development.

According to Le Hoang Quan, Chairmanof the municipal People’s Committee, the city authorities arecompleting procedures to grant investment licences for projects worth1.2 billion USD in Quarter 3.-VNA
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