HCM City attracts over US$1.34 billion worth of FDI in first five months

The inflow of foreign direct investment (FDI) into Ho Chi Minh City surpassed US$1.34 billion in the first five months of this year, down 16.52% year-on-year, according to the municipal Statistics Office.

Of the total, US$378.8 million went to 187 new projects, primarily in the field of commerce (US$236.3 million) and real estate (US$125.8 million).

Meanwhile, US$416 million was added to 42 existing projects.

Foreign investors channelled US$267.4 million of capital into seven processing and manufacturing projects, US$85.5 million into 11 science and technology projects, and US$32.9 million into 15 commercial projects.

Countries posting high additional investment included Japan (US$270 million), Singapore (US$72.4 million), and the UK (US$27 million).

Capital contributions and share purchases in 726 transactions accounted for US$542.7 million.

In terms of domestic capital attraction, the city licenced the establishment of 14,543 companies with registered capital of VND245.6 trillion (US$10.66 billion), up 5.8% and 36.6% year-on-year.