HCM City lures 2.77 billion USD in FDI in five months
Ho Chi Minh City attracted 2.77 billion USD in foreign direct investment (FDI) in the first five months of 2019, up 49 percent year-on-year, reported the municipal People’s Committee.
HCM City (VNA) – Ho Chi Minh City attracted 2.77billion USD in foreign direct investment (FDI) in the first five months of 2019,up 49 percent year-on-year, reported the municipal People’s Committee.
There were 451 newly-licensed projects with a total capitalof 472.16 million USD, up 22.6 percent in terms of the number and 9.2 percentin terms of the investment.
The real estate sector attracted the most capital with 46.7percent, followed by science-technology (23.4 percent); retail and wholesale,automobile and motorbike repair (16.8 percent); manufacturing and processing(5.3 percent).
Up to 102 projects registered additional capital of 214million USD, marking an annual rise of 27.5 percent in volume and 35.8 percentin value.
During the period, the city allowed more than 1,700 foreigninvestors to buy stakes in domestic firms with a combined value of 2.08 billionUSD, up 33.3 percent in volume and 64.3 percent in value.
The total registered and additional capital of domesticenterprises surpassed 348.46 trillion VND (15.1 billion USD), up 4.6 percentyear-on-year.-VNA
Real estate was the most attractive sector for foreign direct investment (FDI) in Ho Chi Minh City in the first four months of the year with 164.58 million USD, or 46.8 percent of total FDI.
Vietnam is the biggest beneficiary in the shift of the investment flow from China amidst the Sino-American trade war, according to Maybank Kim Eng senior economist Chua Hak Bin.
Ho Chi Minh City attracted 2.77 billion USD in foreign investment in the first five months of this year, with 46.7 percent of the capital poured into real estate.
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A corner of Ho Chi Minh City (Photo: VNA) 
