Business

HCM City posts continued FDI expansion in five months

Ho Chi Minh City recorded expanding foreign direct investment (FDI) in the first five months of 2018 thanks to effective trade and investment promotion activities, said the municipal Department of Planning and Investment.
HCM City posts continued FDI expansion in five months ảnh 1Producing electronic components at the Japanese-invested Nidec Sankyo Vietnam Co. Ltd in the Saigon Hi-tech Park (Photo: VNA)

Hanoi (VNA) – Ho Chi Minh City recorded expanding foreign direct investment(FDI) in the first five months of 2018 thanks to effective trade and investmentpromotion activities, said the municipal Department of Planning and Investment.

During the period, 330 projects worth 393.92million USD received investment registration certificates, up 16.6 percent inthe project number and 14.7 percent in investment capital from the same periodlast year.

Processing and manufacturing attracted thebiggest foreign investment, 127.79 million USD, accounting for 32.4 percent oftotal capital and rising by 4.2 percent year on year. Property business rankedsecond with 121.66 million USD, making up 31 percent of the total and risingthreefold. 

About 78.47 million USD was poured into thewholesale, retail and repair of automobiles, motors, motorcycles and othermotorised vehicles, which made up 20 percent of total FDI, down 15.4 percentfrom the same period last year.

[Infographics: FDI: Illustration for socio-economic development]

Meanwhile, the Republic of Korea was the largestforeign investor in the southern economic hub of Vietnam in the five monthswith 111 million USD, accounting for 28.2 percent of total capital. It wasfollowed by Singapore (100.85 million USD, 25.6 percent), Norway (70.08 millionUSD, 17.8 percent), Japan (39.18 million USD, 10 percent), and Hong Kong of China(30.5 million USD, 7.7 percent).

Ninety-three FDI projects raised their capitalby 258.48 million USD, up 14.8 percent in project number and down 10.3 percentin investment capital.

The city also permitted 882 foreign investors toregister 1.19 billion USD to contribute capital, buy shares and buy capitalowned by domestic investors in businesses.

Between January and May, 16,493 new enterpriseswith total registered capital of 185.5 trillion VND (8.1 billion USD) were setup in HCM City, up by 6.5 percent in the business number but falling 4.3percent in registered capital, the Department of Planning and Investmentnoted.-VNA
VNA
#Ho Chi Minh City #foreign direct investment #FDI in HCM City #Department of Planning and Investment of HCM City #FDI projects in HCM City #processing and manufacturing #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City
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