Ho Chi Minh City, Vietnam’s southern largest economic hub, attracted 203 foreign direct investment projects with a total capital of 713 million USD in the first seven months of this year.

Joint venture was the most favourite kind of investment by foreign investors with a combined capital of 504.2 million USD in 54 projects. 204.7 million USD were registered for 147 wholly foreign-owned projects and 4.1 million USD for business cooperation ones.

Among 29 countries and territories investing in the city, Hong Kong, the Republic of Korea, Singapore, Malaysia, Taiwan, Japan, the UK, France and the US were the biggest investors.

Along with services, industry, forestry and seafood areas, the city has seen increasing large-scale projects in high-tech, public heath and education.

Import-export turnover in the FDI sector posted 4.62 billion USD in the reviewed period, of which exports reached 2.65 billion USD and imports, 1.97 billion USD.

The city’s FDI sector also registered a year-on-year growth rate of 7 percent in industrial production in the January-July period, behind only the non-State sector which recorded 7.3 percent.

HCM City has to date housed 3,368 valid FDI projects totalling 27 billion USD.

After 20 years of FDI attraction, FDI has become an important investment source for the city’s socio-economic development. It has helped accelerate the city’s economic structure toward industrialisation and modernisation.

In the coming time, the city will prioritise FDI attraction in service, finance, banking, urban transport infrastructure development, modern urban area development, environmentally-friendly and high added value industries, according to the city’s Mayor Le Hoang Quan.

Quan said at a recent meeting to review achievements in 20 years FDI attraction that priority will also be given to large-scale, health, education and training projects./.