FDI in Ho Chi Minh City doubles

Thien Thanh Sanitaryware joint company

FDI in Ho Chi Minh City doubles

The flow of foreign direct investment (FDI) into Ho Chi Minh City thus far this year has reached 2.5 billion USD, up 2.3 times from the same period last year, according to the municipal People’s Committee.

The city has licensed 284 new projects with a total investment of 2.02 billion USD, up 35.2 percent and 210 percent annually, respectively.

An additional 456.5 million USD was injected into 89 ongoing projects, an annual increase of 410 percent in capital and 48.3 percent in the number of projects.

The majority of the capital is in real estate sector investments with four projects worth 1.31 billion USD, followed by industrial projects with 491.9 million USD and trade projects with 112.5 million USD, among others.

The UK is currently the biggest investor in the city with five projects worth 1.2 billion USD, accounting for 59.2 percent of the new registered capital.

The British Virgin Island trails the UK with 7 projects worth 306.5 million USD or 15.1 percent, followed by the Republic of Korea with 61 projects and 210.5 million USD and Singapore with 47 projects and 100.8 million USD.

As many as 19 projects worth 69.7 million USD were dissolved or halted in the reviewed period.