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Foreign investment in HCM City up 43% in two months

As much as $332.3 million in foreign investment was poured into Ho Chi Minh City in the first two months of this year, up 43.1% year on year, the municipal Statistics Office reported.

Source: VNA

The southern economic hub granted investment certificates to 101 projects with registered capital of $97.7 million, up 22.8% from a year earlier.

Singapore ranked first with 23 new projects worth $76.6 million, accounting for 78.4% of the new capital. It was followed by the Republic of Korea (RoK) with nine projects worth $4.8 million, equivalent to 4.9%; and Taiwan (China) with four projects worth $4.2 million, 4.3%.

Meanwhile, $47.6 million was channeled into 29 existing projects. The RoK added the most, $16.4 million, making up 34.4% of the additional capital.

During the period, foreign investors spent $187 million on contributing capital to and purchasing shares of local businesses, rising 15.9% year on year. Singapore and the RoK topped the list in this regard, respectively accounting for 64.3% and 11.7%, data show.

As of February 20, total foreign investment in HCM City approximated $80.31 billion. In particular, there were 11,447 valid foreign investment projects with total capital of nearly $56.33 billion. About $23.98 billion was registered to contribute capital to and purchase shares of domestic firms, according to Statistics Office.



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