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Ho Chi Minh City lures US$2.3 billion in nine months

15:35 | 05/10/2016 Import-Export Follow english.haiquanonline.com.vn on
The southern metropolis Ho Chi Minh City has attracted US$2.3 billion in foreign direct investment in the nine months of this year.
tin nhap 20160930142552 Ho Chi Minh City Customs Department focuses on retrieving tax debts
tin nhap 20160930142552 A dialogue between Ho Chi Minh City Customs Department and Dutch traders to deal with difficulties
tin nhap 20160930142552 The DG of Vietnam Customs, Mr. Nguyen Van Can had a working session with the Customs Branches of the HCM City
tin nhap 20160930142552
Ho Chi Minh City has attracted US$2.3 billion in foreign direct investment in the nine months of this year.

Accordingly, as many as 587 new projects worth more than 751 million USD have been licensed, up 45.3% in volume and down 68.2% in value year-on-year. Up to 125 projects registered for capital increase with a total value of more than US$377 million.

The city also allowed 1,294 foreign investors to buy shares and contributes capital to businesses, amounting to around 1.18 billion USD.

Twenty investors made deposits to the tune of 15 million USD for their projects, in compliance with the recently-amended Investment Law.

Real estate sector has absorbed 319.2 million USD, equivalent to 42.5% - the largest share of the total FDI capital. It is followed by wholesale and retail and repair of automobiles and motorbikes with 228.5 million USD, accounting for 30.4%. The manufacturing and processing sector makes up 10.2% with 76.7 million USD, down 86.2% annually.

According to the municipal authorities, the city is focusing on hi-tech manufacturing by promoting research and training in combination with upgrading infrastructure and protecting the environment.

A number of foreign-invested projects are on the waiting list for licences, namely the Republic of Korea’s Thu Thiem eco smart city worth 900 million USD, and two estate projects of the Cayman Islands worth 300 million USD and 220 million USD, respectively.

During the period, the city recorded nearly 26,500 new domestic businesses with a total registered capital of 215 trillion VND (9.77 billion USD), up 17.4% in number and 48.6% in capital.

tin nhap 20160930142552 HCMC receives $2.9b in remittance in 8 months

Remittances to HCM City in the first eight months of this year rose nearly 6 per cent ...

At the same time, more than 39,600 businesses raised their capital by a combined 145 trillion VND (6.52 billion USD).

Source: Vietnam News
Tags:
Vietnam Ho Chi Minh city foreign direct investment project volume Real estate total value

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