HCM City licences 30,000 new businesses in nine months
As of the beginning of October, Ho Chi Minh City has licenced nearly 30,000 new businesses with combined registered capital totaling 667 trillion VND (28.64 billion USD), according to the municipal Department of Planning and Investment.
Hanoi (VNA) – As of the beginning of October, Ho Chi Minh Cityhas licenced nearly 30,000 new businesses with combined registered capital totalling 667trillion VND (28.64billion USD), accordingto the municipal Department of Planning and Investment.
The number of newly-established enterprises declined 7.5 percent comparedto the same period last year; however, their registered capital was up 34.7 percent year-on-year.
The southern hub lured 3.25 billion USD in foreign direct investment (FDI)in the first nine months of this year, down 28 percent from a year earlier.
Up to 407.4million USD was poured into 719 newly-licenced projects, 283.8 million USDadded into 163 underway projects, and 2.56 billion USD invested in 2,911 sharetrading deals.
Trade was the leading sector in FDI attraction with more than 751 millionUSD, accounting for more than 23 percent of the total. It was followed by the property sectorwith 726.8 million USD, and science-technology with 685.5 million USD.
The department revealed that in the future, the city will prioritise three investment areas: smartcity, highly interactive and innovative urban area to the East HCM City, andregional and international financial centre construction./.
Ho Chi Minh City authorities promise to offer competitive land rentals and other incentives at industrial parks (IPs) and export processing zones (EPZs) besides improving the business environment and simplifying administrative procedures to attract investment.
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