Over 1.28 billion USD in FDI channeled into HCM City

Ho Chi Minh City lured 1.28 billion USD worth of foreign investment in the first fourth months of 2022, an annual rise of over 12 percent, reported the municipal Department of Planning and Investment.

Of the total, 186 million USD was injected into 181 new projects, up 81 percent in quantity but down 48 percent in value compared to the same period last year.

Meanwhile, 640 million USD was added to 44 existing projects, annual increases of nearly 59 percent and 47 percent, respectively.

The lion’s share of the capital went to the fields of information-communications, wholesale-retail and auto/motorbike repair, finance, banking and insurance.

Singapore was the biggest investor in HCM City during the period with its investment accounting for 52 percent of the total, followed by Japan and the Republic of Korea.

Additionally, municipal authorities also recorded capital contributions and share purchases in 722 transactions totaling 453 million USD./.

VNA