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HCMC attracts US$6 billion in FDI in 10 months
The Saigon Times Daily
Thursday,  Nov 7, 2019,11:56 (GMT+7)

HCMC attracts US$6 billion in FDI in 10 months

The Saigon Times Daily

Workers process wood at a factory in Vietnam. HCMC attracted over US$6.17 billion of FDI capital in the January-October period - PHOTO: THUY DUNG

HCMC – HCMC attracted US$6.17 billion in foreign direct investment (FDI) in the January-October period this year, up 3.4% over the same period in 2018, according to the Department of Planning and Investment.

Of the figure, the city granted investment certificates to 1,046 new projects worth US$1.07 billion, up 23.2% and 46.5% year-on-year, respectively. In addition, some 256 projects increased their capital by US$717.6 million.

There were 4,694 deals of capital contributions and share purchases by foreign investors reaching a total value of US$4.39 billion, up 44.9% and down 14.3% year-on-year, respectively.

The real estate sector took the lead with 41 projects valued at US$455 million. Besides this, investors poured US$241 million into scientific and technological projects, and US$175.6 million into 456 trading projects.

Among the 64 countries and territories investing in the city, Singapore was the largest investor with 139 projects valued at US$324 million. The British Virgin Islands ranked second with 13 projects worth US$179.4 million, followed by South Korea with US$171.9 million and Japan with US$155.4 million.

For domestic enterprises, the city approved the establishment of over 36,000 firms with combined capital of over VND543 trillion, rising by 1.9% and 24.7% over the same period last year.

Le Thi Huynh Mai, director of the HCMC Department of Planning and Investment, was quoted by the Vietnamplus news website as saying that the city had organized 12 trade and investment promotion programs at home and abroad, including trade fairs, exhibitions, market surveys and business networking events.

Besides this, the local government had received 16 domestic and international delegations that were exploring business and investment opportunities in the city.

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