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NewsMonday, 08/03/2020, 13:45

HCM City draws 2.37 billion USD in FDI in seven months

Foreign investment in Ho Chi Minh City has totalled 2.37 billion USD this year, including new and additional capital and share purchases, down 32.9 percent year-on-year.

There were 598 new projects with registered capital of 355.9 million USD, down 11.8 percent in volume and 48.3 percent in value. Some 113 projects added capital of 209.2 million USD.

More than 2,400 purchases of shares were made by foreign investors, worth more than 1.81 billion USD, down 27.8 percent year-on-year.

The trade sector led in terms of registered capital in the first seven months, with 624.1 million USD, accounting for 26.2 percent of the total. It was followed by real estate, with 441.6 million USD, or 18.6 percent, manufacturing and processing 315.6 million USD, or 13.3 percent, information and communications 149.4 million USD, or 6.3 percent, and construction 113.1 million USD, or 4.8 percent.

Investors from 104 countries and territories have registered new projects, added capital, or purchased shares this year. Singapore led the way, with 570.1 million USD, or 24 percent of the total, then the Republic of Korea with 357.9 million USD, or 15.1 percent, Japan 331.1 million USD, or 13.9 percent, the Cayman Islands 261.9 million USD, or 11 percent, the British Virgin Islands 137.6 million USD, or 5.8 percent, and the Netherlands 118 million USD, or 5 percent.

In order to become a popular destination among foreign investors post-pandemic, Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said the city will focus on upgrading infrastructure, allocating capital to key transportation projects, and stepping up the progress of construction works.

It will also accelerate administrative reform and the building of several industrial parks (IPs), including a hi-tech IP on 380 ha in Binh Chanh district.

According to Savills Vietnam’s June global survey, Vietnam still leads in attracting global corporations thanks to its low costs and modern manufacturing facilities.


VNA



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