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

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