HCM City licences 30,000 new businesses in nine months
As of the beginning of October, Ho Chi Minh City has licensed nearly 30,000 new businesses with combined registered capital totaling VND667 trillion (US$28.64 billion), according to the municipal Department of Planning and Investment.
The number of newly-established enterprises declined 7.5% compared to the same period last year; however, their registered capital was up 34.7% year-on-year.
The southern hub lured US$3.25 billion in foreign direct investment (FDI) in the first nine months of this year, down 28% from a year earlier.
Up to US$407.4 million was poured into 719 newly-licensed projects, US$283.8 million added into 163 underway projects, and US$2.56 billion invested in 2,911 share trading deals.
Trade was the leading sector in FDI attraction with more than US$751 million, accounting for more than 23% of the total. It was followed by the property sector with US$726.8 million, and science-technology with US$685.5 million.
The department revealed that in the future, the city will prioritise three investment areas: smart city, highly interactive and innovative urban area to the East HCM City, and regional and international financial centre construction.