The figure has been the highest since the implementation of the law on foreign investment in the city.

Despite soaring prices and other snags, HCM City has tried its best to curb inflation. It has taken effective measures to improve the investment environment and create the best possible conditions for foreign investors, such as promoting site clearance and simplifying administrative procedures for the granting of business licenses.

Municipal authorities have asked State management agencies to accelerate the disbursement of investment capital for licensed projects. Hence, many foreign investors were interested in operating in key sectors, including information technology, industry, construction and real estate. As a result, more than US$7,071 million was poured into the real estate and consulting service sectors, accounting for 93.2 percent of the city’s total foreign investments in the reviewed period.

At present, HCM City has 2,908 valid projects capitalized at US$24,909 million, up nearly US$10 billion from the previous year’s corresponding period.