Ho Chi Minh City attracted 5.04 billion USD in foreign direct investment (FDI) in the first 10 months of 2017 (Source: VNA)HCM City (VNA) – Ho Chi MinhCity, the southern economic hub, attracted 5.04 billion USD in foreign directinvestment (FDI) in the first 10 months of 2017, a two-fold increase year onyear.
According to the municipal Department ofPlanning and Investment, in the period, there were 681 newly-registeredprojects totalling 1.89 billion USD, while 703.4 million USD was added to 184existing projects.
About 1840 foreign investors were licensedto pour 2.43 billion USD into buying stakes and contributing charter capital toexisting companies.
Among sectors, real estate attracted themost FDI with 1.01 billion USD, three times higher than that of the same periodlast year. It was followed by the manufacturing and processing sector with over473 million USD or a year-on-year 5.7-fold rise.
The Republic of Korea remained the biggestinvestor in Ho Chi Minh City with 1.03 billion USD, followed by the US (255million USD), Singapore (137 million USD) and Japan (121 million USD).
During January-October, the city had 33,839newly-established enterprises with a total registered capital of over 457trillion VND (20.1 billion USD), up 13.2 percent in number and 88.7 percent incapital compared with the same period last year.
The city has made efforts to encouragebusiness households to turn into businesses. To date, 1,629 business householdshave switched to enterprises.-VNA
VNA
