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Ho Chi Minh City attracts 2.9 billion USD in FDI in H1

Ho Chi Minh City attracted 2.9 billion USD in foreign direct investment (FDI) from the beginning of this year to June 20, an increase of 30.7% compared the same period last year, the city’s Statistics Office has announced.
Ho Chi Minh City attracts 2.9 billion USD in FDI in H1 ảnh 1Illustrative photo (Photo: baodautu.vn)

Ho Chi Minh City (VNA) – HoChi Minh City attracted 2.9 billion USD in foreign direct investment (FDI) from the beginning of this year to June 20, anincrease of 30.7% compared the same period last year, the city’s StatisticsOffice has announced.

In the first half of this year, the country's economic locomotive granted new investment certificates for 514 projects with a combined registered capital of231 million USD, marking an increase of 69.1% in the number of projects comparedto the same period last year.

Of theprojects, 207 were in wholesale, retail, and repair of automobiles andmotorbikes with registered capital totaling 93.9 million USD, accounting for 40.6% ofthe newly registered capital.

Among the nations and territories pouringcapital into the city, Singapore ranked first with 89 projects and a totalregistered capital of 126 million USD, accounting for 54.6% of the newlyregistered capital.

It was followed by Japan with 43 projects and 21.7 million USD, accounting for 9.4%, Hong Kong(China) with 36 projects and 12.7 million USD, accountingfor 5.6%.

Ho Chi Minh City attracts 2.9 billion USD in FDI in H1 ảnh 2In the first half of this year, the country's economic locomotive granted new investment certificates for 514 projects with a combined registered capital of 231 million USD (Photo: VNA)

Regarding the adjustment of registeredcapital, there were 163 projects with increased capital of 458 million USD.

According to the city’s Department of Planningand Investment, the city is developing an FDI attraction project for the 2023 - 2025 period with a vision to 2030. It eyes to attract strategic investors whopour capital from 30 trillion VND (1.27 billion USD) for conventional projects or 3 trillion forresearch and innovation projects. Ho Chi Minh City expects to attract more than50 high-tech projects by 2025 with a total investment capital of at least3 billion USD.

Priority will be given to multinationalcorporations who join venture with domestic enterprises to form and develop clustersin value chains.

According to the city People's Committee, asof May 20, the city had 11,868 valid foreign investment projects with a total newinvestment and added investment of more than 56.8 billion USD./.

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