Foreign investment in HCM City picks up in first two quarters

Ho Chi Minh City, Vietnam’s largest economic hub in the south, has attracted US$ 1.2 billion in foreign direct investment (FDI) in the first six months of the year, up 12.2 percent compared to the same period in 2014.

According to the municipal People’s Committee, the city has granted investment licences to 258 projects with a total registered capital of US$ 798.4 million  while 84 operational projects added US$ 409.9 million to their capital.

During the six-month period to June, the city’s export processing zones and industrial parks also saw a surge in the amount of investment capital, which reached US$ 623 million, making up 89 percent of the yearly plan and up 87 percent compared to the first two quarters last year.

Currently, there are nearly 1,370 operational projects in the city’s export processing zones and industrial parks with total capital of nearly US$ 8.8 billion.

FDI increase shows improvement in the investing climate and efficiency of the city’s policies to attract foreign investment, said Thai Van Re, Director of the municipal Department of Planning and Investment, adding that FDI projects landing in the city are shifting to high-technology and sustainable development.

According to Le Hoang Quan, Chairman of the municipal People’s Committee, the city authorities are completing procedures to grant investment licences for projects worth US$ 1.2 billion in Quarter 3.-

Source:VNA

Other news

Most view

A farmer harvests coffee in the Central Highlands (Illustrative photo)

Vietnam Coffee Day opens in Da Lat city

The first Vietnam Coffee Day was opened in the Central Highlands city of Da Lat last night, taking place until December 11.

Banking-finance

Economy

Vnese wood product fair opens in Bien Hoa City

Vietnamese wood product fair, which is taking place at Bien Hoa city of Dong Nai province, aims to introduce domestic wood & timber products to consumers in the country.

Self - introduction

Stock market

Shares rise amid growing caution

Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.