HCM City leads the nation in FDI attraction

VOV.VN - Ho Chi Minh City attracted roughly US$2.71 billion in foreign direct investment (FDI) during the first eight months of the year, representing a rise of 24.4% compared to the same period from last year, according to details given by the Ministry of Planning and Investment.

Throughout the reviewed period, 479 new projects were granted investment certificates with a total registered capital of US$309.4 million, marking a rise of 24.1% in terms of the number of newly-licensed projects, despite being an annual fall of 17.6%.

Furthermore, some 96 existing projects adjusted their investment capital, representing a decline of 17.9% in terms of the number of projects, but an increase of 127.3% in adjusted capital against last year’s corresponding period.

Since the beginning of the year, there were a total of 1,632 approved transactions made in the form of capital contribution and share purchases by foreign investors with a total value of contributed capital reaching US$925.68 million, a fall of 19.7% in capital on-year.

Moreover, the information and communication sector received the majority of investment capital, accounting for 39.91%, followed by the wholesale and retail sector, automobiles, motorcycles, and motorbikes, professional activities, science and technology, along with banking and insurance.

Singapore was the largest foreign investor in the southern city with the proportion of capital making up 37.68%, followed by Japan with 17.19% and the Republic of Korea (RoK) with 13.45%.

Ho Chi Minh City therefore leads the country in attracting FDI, accounting for 16.1% of total registered investment capital, representing a rise of 24.4% on-year.

Most notably, foreign financiers have invested heavily in several major cities nationwide due to their convenient infrastructure, including Ho Chi Minh City and Hanoi.

With regard to the implementation of FDI projects throughout the city, the RoK’s Lotte Properties, a real estate arm of Lotte Group, is expected to kick start a smart complex project named Thu Thiem Eco Smart City in the Thu Thiem New Urban Area with total investment capital of VND12,000 billion on September 2.

 

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