Business

HCM City sees over 22% rise in FDI inflows in Q1

Ho Chi Minh City has drawn 497.5 million USD of foreign direct investment (FDI) in the first three months of this year, up 22.4% year on year, according to the city’s Statistics Office.
HCM City sees over 22% rise in FDI inflows in Q1 ảnh 1A view of HCM City (Photo: VNA)
HCM City(VNA) – Ho Chi Minh City has drawn 497.5 million USD of foreign directinvestment (FDI) in the first three months of this year, up 22.4% year on year,according to the city’s Statistics Office.

The office reportedthat in the first quarter of this year, the city issued new investment licencesto 216 projects worth 133.2 million USD, a rise of 30% over the same periodlast year, mostly in construction sector (53.7 million USD).

Singapore remained theleading investor in the city with 47 projects with a total capital of 86.7million USD, accounting for 65.4% of the total FDI the cityattracted in the period.

Hong Kong (China) camesecond with 15 projects worth 9.5 million USD, accounting for 7.1%, and Japanwith 19 projects worth 9.0 million USD.

At the same time,investors also injected additional 87.1 million USD into 37 underway projects. Ofthe total, 35.5 million USD, or 40.8%, came from the Republic of Korea.

Meanwhile, 468 sharepurchase deals involving foreign investors were conducted with a total value of277.3 million USD, down 5.9% year on year.

According to the ForeignInvestment Agency under the Ministry of Planning and Investment, in the firstquarter of this year, HCM City continued to lead localities nationwide in FDIattraction, showing the attractiveness of the local business environment amidthe instability in the world economy.

To date, the city hashosted 11,598 valid FDI projects worth over 56.4 billion USD, the highestnumbers among localities nationwide./.
VNA
#Ho Chi Minh City#foreign direct investment (FDI)#Statistics Office#Foreign Investment Agency#FDI projects#Vietnam#Vietnam news#Vietnam News Agency
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