Business

HCM City attracts 1.6 billion USD in FDI in first five months

Ho Chi Minh City attracted a combined 1.6 billion USD in foreign direct investment (FDI) in the first five months of 2020, or 57.67 percent compared to the same period last year.
HCM City attracts 1.6 billion USD in FDI in first five months ảnh 1A corner of Ho Chi Minh City (Photo: VNA)

Hanoi (VNA) – Ho Chi Minh City attracted a combined1.6 billion USD in foreign direct investment (FDI) in the first five months of2020, or 57.67 percent compared to the same period last year.

The information was revealed during a conference on thecity’s socio-economic development held on June 4.

Of the 47 countries and territories investing in thesouthern hub, Japan was the top with 44 projects worth 80.5 million USD, holdinga lion’s share of 32.4 percent in terms of additional capital.

Singapore came second with a total of 50.8 million USD inregistered capital, followed by Hong Kong (China) and the Republic of Korea.

The city posted a budget collection of nearly 139.40 trillionVND (6 billion USD) during Jan-May, hitting 34.35 percent of the year’sestimates and 84 percent of the same period last year./.

VNA
#Ho Chi Minh City #foreign direct investment (FDI) #socio-economic development #southern hub #budget collection #vietnamplus #Vietnam News Agency Ho Chi Minh City
Follow VietnamPlus

Related News

HCM City supports workers, businesses affected by COVID-19

HCM City supports workers, businesses affected by COVID-19

The southern economic hub of Ho Chi Minh City has spent 465 billion VND (20.2 million USD) supporting more than 336,550 business households and employees seriously affected COVID-19, according to Director of the municipal Department of Labour, Invalids and Social Affairs Le Minh Tan.

See more

Geely Auto launches three competitively priced versions, Standard, Premium, and Flagship. (Photo: VNA)

Chinese auto giant stakes its claim in Vietnamese market

Geely clearly demonstrated its green and sustainable direction with the all-electric Geely EX5, which stands out with its powerful 218-horsepower electric motor, 320 Nm of torque, and a 60.2 kWh battery capacity allowing the vehicle to travel up to 430 kilometres on a full charge.

Workers process agricultural products for export. (Photo: VNA)

Vietnam's small business growth soars to a four-year high

The survey findings released in Ho Chi Minh City on March 21 show that the growth momentum is expected to accelerate in 2025, with 92% of small businesses expecting to grow, the highest projection among 11 markets surveyed.

At the meeting between French Minister of Transport Philippe Tabarot and Vietnamese Minister of Construction Tran Hong Minh in Hanoi on March 21. (Photo: VNA)

French businesses show strong interest in Vietnam’s high-speed railway project: Minister

Minh also mentioned Vietnam’s ongoing construction of Long Thanh International Airport, which will have a total capacity of 100 million passengers per year upon completion. The airport is expected to become Vietnam’s largest and serve as an international gateway, offering new opportunities for global aviation businesses, including those from France, to expand their connections in Vietnam and ASEAN, he said.

The ground-breaking ceremony for the Hon La International Port on March 21 (Photo: VNA)

Quang Binh breaks ground on 90-million-USD international port

The port features comprehensive planning with modern warehouses, logistics areas, and technical facilities. Its strategic location in the sheltered Hon La bay, protected by Hon Co and Hon La islands, provides ideal natural depth for large vessels.

SMEs face many difficulties in accessing capital. (Photo: baokiemtoan.vn)

SMEs need support policies: insiders

With nearly one million businesses and around five million business households, the private sector contributes approximately 51% of the country's Gross Domestic Product (GDP) and over 30% to the State budget. However, most small and medium-sized enterprises (SMEs) face significant barriers in scaling up and enhancing their competitiveness.

Quang Ninh plans to develop four new industrial parks (Photo: VNA)

Quang Ninh to develop four new industrial parks

To attract investment for infrastructure development in these zones, the Quang Ninh provincial People's Committee is focusing on reviewing available land and making a list of projects to attract investors for technical infrastructure construction.

A Vietjet executive performs the ribbon-cutting ceremony for the Ho Chi Minh City - Bengaluru route launch. (Photo: baodautu.vn)

Vietnam’s leading airlines to open new routes to India

Vietnam's national flag carrier Vietnam Airlines plans to launch direct flights from Hanoi to Bengaluru and Hyderabad starting in May, while private carrier Vietjet has already commenced services connecting Ho Chi Minh City to these two major Indian hubs on March 18.