FDI increases in HCMC

Foreign Direct Investment (FDI) reached US$765.4 million in the first four months this year, an increase of 120 percent over the same period last year, said Thai Van Re, director of the Department of Planning and Investment in HCMC.

Production of businesses has recovered after a long time of difficulties in HCMC (Photo: SGGP)

The city’s economy showed good signs of recovery with domestic investment in the first four months reaching VND78,330 billion, up 31 percent over the same period last year.

The retail sales of goods and services were estimated at VND204.5 trillion in the first four months, an increase of 12.1 percent over the same period last year.

Export turnover was up 0.6 percent reaching US$8.85 billion while import turnover totaled US$7.87 billion, resulting in trade surplus of US$1 billion during this phase.

Industrial production index increased 5.2 percent. Production of businesses has been improved after a long time of difficulties, said Re.

However, purchasing power is still low because citizens continue to tighten consumption, said Tran Anh Tuan, deputy head of the HCMC Institute for Development Studies.

April’s Consumer Price Index increased 0.14 percent compared to March, he said.

The city will continue to implement measures to resolve difficulties for businesses, create advantageous conditions for them to access bank loans with suitable interest rate, said Chairman of the city’s People’s Committee Le Hoang Quan.

By Van Anh – Translated by Hai Mien

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