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HCM City tops nation in FDI attraction in first eight months

Ho Chi Minh City topped the country in foreign direct investment (FDI) attraction in the first eight months of 2022, accounting for 16.1% of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
HCM City tops nation in FDI attraction in first eight months ảnh 1Illustrative image (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City topped the country in foreign direct investment (FDI) attraction in the first eight months of 2022, accounting for 16.1% of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

It lured some 2.71 billion USD worth of FDI in January-August, an increase of 24.4% against the same period last year.

About 309.4 million USD were channeled into 479 newly-registered FDI projects, up 17.6% and 24.1% year-on-year, respectively, during the period. Ninety-six existing projects received extra investment worth 1.47 billion USD, up 127.3% year-on-year.

Meanwhile, capital contributions and share purchases were down 19.7% to 925.68 million USD.

HCM City tops nation in FDI attraction in first eight months ảnh 2A corner of Ho Chi Minh City (Photo: VNA)


The largest sum of FDI, or 39.91% of the total, was poured into information and communications. It was followed by wholesale-retail, auto and motor maintenance and repair (30.59%), science and technology (9.85%), and finance, banking and insurance (7.14%).

Singapore remained HCM City’s biggest investor, making up 37.68% of the total capital, followed by Japan (17.19%) and the Republic of Korea (13.45%).

According to the municipal People’s Committee, RoK-based Lotte Properties HCMC will begin construction of Thu Thiem Eco Smart City in Thu Thiem New Urban Area. The 5.5-ha project has a total investment of 12 trillion VND (512.38 million USD)./.

VNA
#Ministry of Planning and Investment#Vietnamplus#Vietnam News Agency#FDI attraction#Foreign Investment Agency#Lotte Properties HCMC#Thu Thiem Eco Smart City
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