Southern Hub Reports FDI Increases 2.4 Folds
Ho Chi Minh City, Vietnam’s largest economic hub has attracted a total foreign direct investment (FDI) capital of $1.3 billion between January and September this year, a 2.4-fold increase on-year, leading the country in FDI attraction.
Out of the figure, nearly US$1.1 billion came from l72 fresh FDI projects, representing a 3.8-fold rise in capital despite a fall of 31 projects against the same period of 2005.
Meanwhile the rest belonged to an investment rise of 80 existing ones.
The investment was mainly poured into the processing industry with US$677 million, followed by transportation with US$258.5 million, property industry with US$82.1 million, banking with US$30 million and construction with US$21 million.
Hong Kong topped the list of investors in the city with $606 million for just three projects. The runners-up are South Korea, Japan, Taiwan, Singapore with $48.6 million, $44.9 million $39.8 million and $16.5 million, respectively.
Currently, Ho Chi Minh City has more than 2,060 FDI projects with a combined registered capital of $13.56 billion.
In the first nine months of this year, Ho Chi Minh City also licensed 9,890 new non-state enterprises costing a combined capital of nearly VND23.3 trillion ($1.46 billion), up 22.5 per cent in the number of businesses and 41.1 per cent in capital on-year.
During the time, local firms also injected $53 million into five projects abroad.
Vietnam & World Economy
Vietnamese
