Ho Chi Minh City absorbs about 3.94 billion USD in foreign direct investment in 2022, up 5.4% year-on-year. (Photo: VNA)HCM City (VNA) – Ho Chi Minh Cityabsorbed about 3.94 billion USD in foreign direct investment (FDI) in 2022, up5.4% year-on-year, according to the municipal People’s Committee.
The city's authorities granted new investment certificates to 893 projects in 2022 with total registered capital of 601.1 million USD,marking a decline of 12.5% compared to last year. Of the projects, 338 were invested in wholesale, retail, and repair of automobiles and motorbikes withregistered capital of 176.9 million USD, accounting for 29.4% of the newlyregistered capital.
They were followed by the field of information and communicationwith 186 projects that posted registered capital of 139.3 millionUSD, accounting for 23.2%. There were 231 projects in specialised areas,science, and technology with registered capital of 107.5 million USD,accounting for 17.9%.
Illustrative photo ( Photo: VNA)Among nations and territories pouring capital into the citythis year, Singapore ranked first with 167 projects with total registeredcapital of 235.4 million USD, accounting for 39.2% of the newly registered capital.
It was followed by Japan with 86 projects and registeredcapital of 97.2 million USD, accounting for 16.2%, the Republic of Korea (RoK) with122 projects and registered capital of 60.3 million USD, accounting for 10%.
Regarding the adjustment of registered capital, there were192 projects with increased capital of 1.6 billion USD, up 42.4% over the previous year.
Singapore was the country with the highest adjusted capitalin 2022 – over 1.18 billion USD, accounting for 73.7% of the adjustedregistered capital.
A total of 2,411 investors made capitalcontributions, share purchase, and redemption of contributed capital. Their capital contributions reached nearly 1.74 billion USD,down 9.8% from last year. Singapore and the RoK saw highproportions of capital contribution, accounting for 47.5% and 16.9%respectively.
With the new projects in 2022, the total number of validprojects in the city until December 20, 2022, amounted to 11,273 projects withregistered capital of 55.84 billion USD. Thereby, Ho Chi Minh City continues tolead the country in the number of valid projects.
To achieve those results, the city's authorities organised investment promotion activities in andoutside the country to attract foreign investors to its key industries and keyprojects. The city also met with, asked for advice, and talk with investors.
The city organised 127 domestic and foreign trade andinvestment promotion activities, supported businesses to recover, developmarkets, and connect businesses to businesses through fairs and exhibitions orprogrammes that connect businesses with retail groups and distributionsystems./.
