FDI Capital into HCM City Continues Falling
Ho Chi Minh City has since early this year licensed 257 foreign direct investment (FDI) projects capitalized at a total US$830 million, down US$243.3 million on year despite an increase in project number of 89, state media said.
The new businesses center on the services and entertainment industry accounted for up to 132 projects.
Among sectors, real estate development and consultation services attracted 118 FDI worth $521.5 million, the industrial sector with 85 projects valued $224.8 million, and three culture and sports projects at $47.3 million.
The runners-up are the construction industry with 30 projects ($31.2 million) and transportation 11 projects ($2.1 million).
South Korea topped with 88 projects ($472.7 million), followed by Singapore with 21 projects ($176.4 million), British Virgin Islands with 14 projects ($110.6 million), Taiwan with 23 projects ($27.7 million) and the US with 13 projects ($7.6 million).
HCM City is now home to 2,416 valid FDI projects worth a combined registered capital of roughly $15.5 billion, ranking first in the country in the FDI attraction.
The city plans to build six more industrial parks (IP) by 2020, raising the city’s total number of IP and export processing zones to 22 to attract more foreign investments under a plan recently approved by the municipal People’s Committee, local newspapers said.
The southern hub has announced a list of 412 projects calling for investment from now to 2010, focusing on residential area projects account industrial complexes, according to the new source. (Vietnam & World Economy)
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