FDI to Ho Chi Minh City increases by 56.7% in Q1
Ho Chi Minh City attracted US$574.71 million in foreign direct investment (FDI) in the first quarter of 2017, a year-on-year increase of 56.7%, according to the municipal Department of Planning and Investment.
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The city granted investment certificates to 141 projects with a total investment of US$133 million and 42 existing projects with a combined capital of over US$89 million.
Besides, the city approved 401 foreign investors’ registration for contributing capital, purchasing shares and buying back financial contributions to the city’s firms with a total capital of US$352 million.
Malaysia topped the city’s FDI sources with over US$44 billion (33.3% of the total), followed by Japan with US$29 billion (22%) and the Netherlands with US$16 million (12%).
Information and communications sector was the top sector, luring US$51.77 billion, or 38.7%, as much as 3.1 times to the same period last year.
The sector was followed by the automobile and motorbike wholesale, retail and maintenance with US$40.39 million or 30.3%, and manufacturing and processing with US$10.74 million or 8.1% of the city’s total FDI.
Besides, the planning and investment department launched an online investment registration system for foreign investors who want to join capital to firms in the city. After five months of operation, the system received 432 documents. The second phase of the programme is being applied to some other procedures.
Regarding domestic investment, more than 7,900 new enterprises were licensed with a total registered capital of VND99.4 trillion (US$4.3 billion), up 14% in the number and 61.7% in the capital.
