HCM City lures 2.15 billion USD in FDI in six months
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HCM City lures 2.15 billion USD in FDI in six months

Economy, Vietnam, Vietnam Finance News
A view of the Saigon Hi-Tech Park (Photo: VNA)

HCM City (VNA)
– Ho Chi Minh City has attracted 2.15 billion USD in foreign directed
investment (FDI) in the first half of 2017, doubling the figure in the same
period last year, reported the municipal People’s Committee.

As many as 375 million
USD was poured into 340 new projects, while 346 million USD was added to 91
existing projects.

At the same time, the
southern largest economic hub also permitted 915 foreign investors to contribute
capital to, buy shares or repurchase capital contributions in local firms with
total sum of 1.15 billion USD.

According to the city’s
People’s Committee, 124 million USD, or 33.1 percent of capital of the new FDI
projects was injected into processing and manufacturing sectors, while 110
million USD, or 29.4 percent, was invested in wholesale and retail, automobile
and motorbike repair, and 56.23 million USD, equivalent to 15 percent, was
poured into information and communications.

The Republic of Korea
was the largest investor in the first half of 2017, accounting for 26.9 percent
of the total FDI. It was followed by Japan with 14.1 percent, Malaysia with
12.1 percent and Singapore with 11.1 percent.

The city’s Department
of Planning and Investment is offering online investment registration services
for foreign investors.

Nguyen Thi Thu Hoa, vice
director of the department, said that in the first six months of this year, the
agency received 612 online applications. Currently, the department is working
on the second phase of the project with expanded area of investment procedures
for foreign investors.

The city also expects
big and prestigious businesses to invest in its high technology sector and engage
in researching, training and incubating activities.-VNA


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