HCM City (VNA) – Ho Chi Minh City hasattracted 4.19 billion USD in foreign direct investment (FDI) so far this year,up 21.7 percent year-on-year.
According to the municipal People’s Committee, the city granted new investment licenses to 816foreign-invested projects witha total registered capital of 754.1 million USD in the period. Besides, it also allowed 197 existingprojects to increase capital by 419.3 million USD.
Besides, 3,147 foreign investors registered 3.02 billion USD to contributecapital to or buy shares of domestic companies in the reviewed period.
The real estate sector took the lead in attracting FDI 250.5 million USD in 33projects. It was followed by science-technology, trading, andtransport-warehouse with respective investment values of 226.7 million USD,141.5 million USD, and 31.6 million USD.
As many as 60 countries and territories invested into the city in the period. BritishVirgin Islands topped the list with 10 projects worth 179.1 million USD,accounting for 23.7 percent of the total.
Investors from the Republic of Korea poured 161.4 million USD into 172 projectsin the city, while those from Japan had 111 projects worth 139.1 million USD,and from Singapore with 105 projects totaling 118.1 million USD.
To further promote FDI attraction, the municipal authorities have taken policiesand programmes to support investors, especially in industry, and support andprocessing industries.
Attention has been paid to improving investment and business environment tolure more foreign investment projects. -VNA
Vietnam has emerged as a destination for large tech firms as the trade dispute between the US and China continues to intensify with no end in sight. However, whether and how much Vietnam can take advantage of the shifting FDI flow out of China remains to be seen.
As much as 3.63 billion USD of foreign direct investment (FDI) capital was poured into Ho Chi Minh City in the first seven months of this year, an annual rise of 15.2 percent, according to the municipal People’s Committee.
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Illustrative image (Source: VNA) 
