HCM City Sees Higher FDI Project Number, Lower Capital Value
Ho Chi Minh City has licensed a greater number of foreign direct investment (FDI) projects so far this year, but total invested foreign capital was down from the same period last year, state media reported.
Just US$576 million has been poured into 182 FDI projects in the period, compared with respective US$750 million and 126 FDI projects in the same time period last year, with US$605 million from US-based Intel’s chip assembly and testing facility.
Eighty-five existing projects were allowed to raise their registered capital by a combined US$122 million during the time.
Investors from South Korea again took the lead among foreign investors in the southern metropolis with 64 projects. The runners-up were Japan with 22 projects, Taiwan with 19, Singapore 13 and British Virgin Islands 10 and the US with nine.
The property and consultative services sector attracted 76 projects (US$294 million), followed by industry with 67 projects (US$215.6 million), construction with 21 projects (US$20.2 million).
The southern hub now boasts 2,341 valid foreign invested projects, with combined capital of US$15.19 billion.
In January-May this year, 6,160 non-state enterprises were set up in the city with combined registered capital over VND363.8 trillion, up 19.3 per cent in business numbers and three times in capital. (Vietnam & World Economy, People’s Army)
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