HCM City welcomes more FDI businesses

The newly-licensed projects were invested by Hong Kong (China) and Japan, mostly in construction, retail distribution, and precision engineering.

HCM City People's Committee Chairman Le Hoang Quan called on foreign investors to run long-term business to help turn HCM City into the national powerhouse in economics, finance, trade, and science-technology.

He highly valued the importance of FDI to local development and vowed to create the best possible conditions for FDI businesses to operate efficiently.

Hans-Dieter Stell, German Consul General in HCM City, expressed his wish to strengthen bilateral strategic partnership, by promoting people's exchange programmes and sharing experience in sustainable development.

Takashi Sakakibara, Deputy Director General of Japan's Nikken company, said his firm is expected to increase investment in HCM City over the next two years, with a focus on manufacturing, assembly, and production of automobile components. He spoke highly of Vietnam's incentive investment policies and abundant labour force.

HCM City Department for Planning and Investment statistics show  since January 2014, as many as 169 projects have been licensed in the city capitalized at a total US$967 million. Fifty-three FDI projects increase their investment by US$110 million.

Most FDI businesses were keen on processing and manufacturing industries (around US$234 million), accounting for 24.1% of HCM City's total foreign investment.