Robots are tested at a laboratory in the Saigon Hi-tech Park of HCM City (Photo: VNA)

HCM City (VNA) – The Republic of Korea (RoK) was the biggest investor in Ho Chi Minh City in the first two months of 2019, engulfing 43.2 percent of the city’s total foreign direct investment (FDI) for the period.

The southern largest economic hub of Vietnam attracted 1.02 billion USD of FDI capital in the year’s initial two months, equivalent to 94.7 percent of the figure for last year’s same period, according to the municipal Department of Planning and Investment.

In the list of investors, the RoK was followed by Singapore (15.8 percent), Japan (15 percent), the UK (7.3 percent), and the US (4.8 percent).

Around 96.69 million USD of the capital was channeled into 165 new projects, while another 31 million USD was added to 31 existing ones.

[FDI up 2.5 times in first two months of 2019]

Among the new projects, those with science and tech-related activities attracted the most capital (51 percent), followed by wholesale and retail, along with motorised vehicle repair (34.6 percent); processing and manufacturing (5.7 percent); accommodation and food services (3.4 percent); and information and communications (2.2 percent).

In the last two months, HCM City also licensed 554 cases in which foreign investors contributed capital to or purchased shares of domestic businesses with total registered capital of over 894 million USD.

Meanwhile, more than 136.43 trillion VND (5.86 billion USD) of new and additional capital was registered by domestic investors, including over 94.26 trillion VND of some 4,400 newly established companies.

Narly 14,180 firms registered to add a total of 42.17 trillion VND to their existing capital, the Department of Planning and Investment said.–VNA