HCMC magnetizes more than US$2 billion FDI capital

The Department of Planning and Investment of Ho Chi Minh City on January 10 announced that the City attracted 477 new foreign direct investment projects in 2013 with total registered capital of US$1.05 billion, up 9.4 percent and 76.72 percent compared to the same period last year, respectively.

In addition, 139 projects asked for an additional capital of $1.03 billion, an increase of 33.13 percent against the previous year. Thus, last year, the City magnetized $2.08 billion, up 51.98 percent over the previous year.

Beside new and expanded projects, around 67 projects with total investment capital of $436.78 million moved its headquarters to other provinces and cities or terminated operations and 20 other projects with total capital of $21.42 million temporarily called halt to operations.

Until now, the City has 4,924 valid FDI projects with total registered investment capital of $33.5 billion. Of which, 3,811 projects are wholly foreign-invested; and 1,067 projects are joint-venture.

Singapore pumped highest FDI capital into Ho Chi Minh City, followed by Malaysia, and South Korea.

By Dinh Ly – Translated by Thuy Doan

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