HCM City lures 2.15 billion USD in FDI in six months
Ho Chi Minh City has attracted 2.15 billion USD in foreign directed investment (FDI) in the first half of 2017, doubling the figure in the same period last year, reported the municipal People’s Committee.
HCM City (VNA)– Ho Chi Minh City has attracted 2.15 billion USD in foreign directedinvestment (FDI) in the first half of 2017, doubling the figure in the sameperiod last year, reported the municipal People’s Committee.
As many as 375 millionUSD was poured into 340 new projects, while 346 million USD was added to 91existing projects.
At the same time, thesouthern largest economic hub also permitted 915 foreign investors to contributecapital to, buy shares or repurchase capital contributions in local firms withtotal sum of 1.15 billion USD.
According to the city’sPeople’s Committee, 124 million USD, or 33.1 percent of capital of the new FDIprojects was injected into processing and manufacturing sectors, while 110million USD, or 29.4 percent, was invested in wholesale and retail, automobileand motorbike repair, and 56.23 million USD, equivalent to 15 percent, waspoured into information and communications.
The Republic of Koreawas the largest investor in the first half of 2017, accounting for 26.9 percentof the total FDI. It was followed by Japan with 14.1 percent, Malaysia with12.1 percent and Singapore with 11.1 percent.
The city’s Departmentof Planning and Investment is offering online investment registration servicesfor foreign investors.
Nguyen Thi Thu Hoa, vicedirector of the department, said that in the first six months of this year, theagency received 612 online applications. Currently, the department is workingon the second phase of the project with expanded area of investment proceduresfor foreign investors.
The city also expectsbig and prestigious businesses to invest in its high technology sector and engagein researching, training and incubating activities.-VNA
Public-private partnership (PPP) is one of the optimal solutions to investment attraction for infrastructure projects in Ho Chi Minh City, said Chairman of the municipal People’s Committee.
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A view of the Saigon Hi-Tech Park (Photo: VNA) 
