Over US$1.28 billion in FDI channeled into HCM City in 4 months

Ho Chi Minh City lured US$1.28 billion worth of foreign investment in the first fourth months of 2022, an annual rise of 12.18%, reported the municipal Department of Planning and Investment.

Of the total, US$186.25 million was injected into 181 new projects, up 81% in quantity but down 48.28% in value compared to the same period last year.

Meanwhile, US$640.42 million was added to 44 existing projects, annual increases of 58.91% and 46.67%, respectively.

The lion’s share of the capital went to the fields of information-communications (51.48%), wholesale-retail and auto/motorbike repair (23.25%), and finance, banking and insurance (11.84%).

Singapore was the biggest investor in HCM City during the period with its investment accounting for 51.95% of the total, followed by Japan and the Republic of Korea.

Additionally, municipal authorities also recorded capital contributions and share purchases in 722 transactions totaling US$453.04 million, up 31.99 and 19.97% annually, respectively.