Japan Likely to Become Largest Foreign Investor in HCM City in 2005

Japan Likely to Become Largest Foreign Investor in HCM City in 2005

Japan is expected to be the largest foreign investor in Ho Chi Minh City this year as several Japanese investment projects worth between USUS$300-600 million each will be licensed in the year, said director of the city's Department of Planning & Investment.

"Negotiations are underway between Ho Chi Minh City authorities and Japanese investors over many large projects," he said.

The largest Japanese investment project in the city is expected to be between USUS$300 and USUS$400 million and involves the construction of an elevated railway.

In the first two months of this year, Ho Chi Minh City licensed 36 foreign direct investment (FDI) projects with total pledged investment of USUS$67.8 million, a 100 per cent increase against the year-earlier period. Investment was also raised by USUS$12 million by 10 other existing FDI projects in that period.
VNExpress.net