Flow of FDI to HCM City up 56.7%
Ho Chi Minh City attracted US$574.71 million in foreign direct investment (FDI) in the first quarter of 2017, a year-on-year increase of 56.7%, according to the municipal Department of Planning and Investment.
The city granted investment certificates to 141 projects with a total investment of US$133 million and 42 existing projects with a combined capital of over US$89 million. Besides, it approved 401 foreign investors’ registration to contribute capital, purchase shares and buy back financial contributions from the city’s firms to the tune of US$352 million.
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| Hi-tech electronic components produced at Japan’s Nidec Sankyo Vietnam Ltd. Company in HCM City. |
Malaysia topped the city’s FDI sources with over US$44 million (33.3% of the total), followed by Japan with US$29 million (22%) and the Netherlands with US$16 million (12%). Information and communications sector was the top sector, luring US$51.77 million, or 38.7%, as much as 3.1 times over the same period last year.
The municipal Planning and Investment Department has launched an online investment registration system for foreign investors who want to contribute capital to firms in the city. After five months of operation, the system received 432 documents. The second phase of the programme will include other procedures.
Regarding domestic investment, more than 7,900 new enterprises with a total registered capital of VND99.4 trillion (US$4.3 billion) were licensed by the city, up 14% and 61.7% respectively over corresponding figures last year.
