FDI into Ho Chi Minh City rises 30% in six months
VOV.VN - Ho Chi Minh City, the largest economic and financial hub in Vietnam, attracted nearly US$2.9 billion in foreign direct investment (FDI) in the first six months of the year, representing a year-on-year rise of 30.7%, according to the Statistics Office of Ho Chi Minh City.
The city licensed 514 new projects worth US$231 million, representing year-on-year increases of 69% and 0% respectively. Notably, wholesale and retail and vehicle repairs with 207 projects lured 207 FDI projects valued at US$93.9 million.
Among foreign investors, Singapore took the lead, pouring US$126 million into 89 newly registered projects, followed by Japan (US$21.7 million into 43 projects), and Hong Kong – China (US$12.7 million into 36 projects).
Meanwhile, 1,089 foreign businesses contributed capital worth US$2.2 billion, 3.6 times higher than the same period last year. Financial, banking and insurance services attracted US$1.5 billion worth of capital contributions, followed by science and technology, wholesale and retail, and vehicle repairs,
The past six months also saw investors adjust their registered capital totally US$458 million into 163 projects, mostly seen in the science and technology field.
The city is encouraging investment in the fields of research, application, innovation, start-up, and technology transfer, along with transport infrastructure and high quality services (finance, banking, logistics, telecommunications, transportation, tourism).
It is developing a master plan for FDI attraction in the 2023 - 2025 period, with a vision to 2030. It expects to make a breakthrough in FDI attraction after the National Assembly recently approved new development policies for the southern metropolis till 2028.
