HCM city lures over 3.6 billion USD of FDI in 7 months

17:01 | 19/08/2019
As much as 3.63 billion USD of foreign direct investment (FDI) capital was poured into Ho Chi Minh City in the first seven months of this year, an annual rise of 15.2 percent, according to the municipal People’s Committee. 
hcm city lures over 36 billion usd of fdi in 7 months
Processing products for exports (Source: VNA)

Of the amount, nearly 688.8 million USD came from 678 newly registered projects, up 26.9 percent in the capital and 18.3 percent in the number of projects year-on-year.

In the period, 2,668 foreign investors bought shares and acquired stakes of domestic enterprises with a total registered capital of 2.6 billion USD, 28.3 percent and 16.7 percent higher than those in the same period last year.

Meanwhile, HCM City granted business licences to 24,529 new domestic enterprises worth over 396 trillion VND (over 17 billion USD), up 0.9 percent and 25.7 percent respectively.

Up to 71,874 existing enterprises were allowed to add a combined of over 160.4 trillion VND (over 6.9 billion USD) to their investment, up 2.2 percent and 63 percent respectively.

The municipal People’s Committee said trade and investment promotion activities have contributed to accelerating economic restructuring of the city and promoting export of high value-added processed products.

These have also helped increase confidence of investors in the city’s investment and business environment.

To further expand the development of domestic and FDI enterprises, municipal authorities will continue to pay attention to simplifying administrative procedures and removing difficulties facing enterprises related to investment, thus facilitating their production and business in the locality.

Trade promotion activities and conferences will be arranged to enhance dialogues with enterprises, towards promoting cooperation between domestic and foreign investors.

VNA

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