Foreign direct investment in HCM City surges 64 percent

15:29 | 28/09/2017 Investment

Ho Chi Minh City drew 3.71 billion USD in foreign direct investment (FDI) over the past nine months, up 64.3 percent year on year, according to the municipal People’s Committee.

Illustrative image (Source: VNA)

Of that amount, 925.1 million USD came from 593 newly-registered projects while 690.78 million USD was added to 164 existing projects.

The city also approved 1,616 investors to contribute capital and buy stakes with total capital of around 2.09 billion USD.

The manufacturing and processing sector continued to take the lead with 471.5 million USD, accounting for 51 percent of total newly-approved FDI.

The wholesale and retail, and automobile and motor repair accounted for 18.7 percent, with over 173 million USD, and the real estate sector, 13.4 percent, with over 123 million USD, falling 22.8 percent and 61.3 percent year on year respectively.

The US is Vietnam’s largest source of FDI, injecting 249.95 million USD or 27 percent. Singapore ranked second with 136.64 million USD, or 14.8 percent, followed by the Republic of Korea and Japan with 129.62 million USD and 82 million USD respectively.

The city has officially put into operation the online investment registration programme applied for newly-registered projects, successfully receiving 1,242 dossiers.

Theo VNA