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HCMC leads in new foreign-invested projects in Jan-Oct

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HCMC – HCMC took the lead in the number of new foreign-invested projects in the January-October period of this year with 776 projects worth US$3.4 billion.

However, the registered investment of the city ranked second, after the Mekong Delta province of Bac Lieu, with US$4 billion, reported Nguoi Lao Dong newspaper, citing a report by the Ministry of Planning and Investment.

According to the HCMC Statistics Office, the city attracted the largest foreign capital in trade and industry with a total investment of US$838 million. The property sector came second with US$772 million.

The capital of Hanoi ranked second in the number of new foreign-invested project approvals with 438 projects, followed by Bac Ninh with 125 projects.

In the 10-month period, the pledged foreign investment in Vietnam reached nearly US$23.5 billion, equal to 80.6% of the figure seen during the same period last year.

Of the total, 2,100 new projects obtained investment certificates, with total registered capital of US$11.66 billion.

Foreign investment was committed to 18 sectors, of which the manufacturing and processing sector attracted the most capital at US$10.7 billion, accounting for 45.7%. The electricity production and distribution sector came in second, with over US$4.8 billion, followed by the real estate and wholesale-retail sectors.

Singapore was Vietnam’s largest investor during the period, with US$7.51 billion, or 31.9% of the total, followed by South Korea, China and Japan.

At a seminar held in HCMC on October 30 to support enterprises to access capital resources and step up their production and business after the Covid-19 pandemic, representatives of many domestic and foreign investment funds said they have yet to come to Vietnam to learn about projects and make investment decisions.

However, they have assessed the country as a potential and attractive market, especially during a shift of investment from China to other countries, including Vietnam.

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