HCM City lures 2.77 billion USD in FDI in five months
Ho Chi Minh City attracted 2.77 billion USD in foreign direct investment (FDI) in the first five months of 2019, up 49 percent year-on-year, reported the municipal People’s Committee.
HCM City (VNA) – Ho Chi Minh City attracted 2.77billion USD in foreign direct investment (FDI) in the first five months of 2019,up 49 percent year-on-year, reported the municipal People’s Committee.
There were 451 newly-licensed projects with a total capitalof 472.16 million USD, up 22.6 percent in terms of the number and 9.2 percentin terms of the investment.
The real estate sector attracted the most capital with 46.7percent, followed by science-technology (23.4 percent); retail and wholesale,automobile and motorbike repair (16.8 percent); manufacturing and processing(5.3 percent).
Up to 102 projects registered additional capital of 214million USD, marking an annual rise of 27.5 percent in volume and 35.8 percentin value.
During the period, the city allowed more than 1,700 foreigninvestors to buy stakes in domestic firms with a combined value of 2.08 billionUSD, up 33.3 percent in volume and 64.3 percent in value.
The total registered and additional capital of domesticenterprises surpassed 348.46 trillion VND (15.1 billion USD), up 4.6 percentyear-on-year.-VNA
Real estate was the most attractive sector for foreign direct investment (FDI) in Ho Chi Minh City in the first four months of the year with 164.58 million USD, or 46.8 percent of total FDI.
Vietnam is the biggest beneficiary in the shift of the investment flow from China amidst the Sino-American trade war, according to Maybank Kim Eng senior economist Chua Hak Bin.
Ho Chi Minh City attracted 2.77 billion USD in foreign investment in the first five months of this year, with 46.7 percent of the capital poured into real estate.
The Vietnamese economy is expected to grow at around 6.7 percent this year, the fastest rate in South East Asia, according to the Institute of Chartered Accountants in England and Wales’ recent Economic Insight: South East Asia report.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
A corner of Ho Chi Minh City (Photo: VNA) 
