HCMC ranks second in FDI attraction in nine months

SGGP

In 59 provinces and cities having FDI projects in the first nine months of 2019, Hanoi attracted most investment with registered capital reaching US$6.15 billion accounting for 23.5 percent of the country’s total, followed by HCMC with $4.52 billion and Binh Duong with $2.52 billion.


The center area of HCMC (Photo: SGGP)

The center area of HCMC (Photo: SGGP)

According to the Foreign Investment Agency under the Ministry of Planning and Investment, the value of newly registered and additional capital in FDI projects as well as capital contribution and share purchase by foreign investors reached $26.16 billion, up 3.1 percent over the same period last year.

Of these, 2,759 projects were granted investment certificates, up 26.4 percent over the same period in 2018. Registered capital totaled $10.97 billion accounting for 77.7 percent of the number in the same period in 2018.

In addition, 1,037 projects increased investment by $4.79 billion, up 23.3 percent. There were 6,502 deals of capital contribution and share purchase by foreign investors with the total value of $10.4 billion, a year on year increase of 82.3 percent.

In 19 fields which foreign firms invested in Vietnam, manufacturing and processing was the most attractive with $18.09 billion accounting for 69.1 percent of total registered capital. Real estate ranked second with $2.77 billion while retail and wholesale ranked third with nearly $1.4 billion.

Of 109 nations and territories investing in Vietnam, Hong Kong (China) took the lead with the total investment of $5.89 billion including $3.85 billion spent on share purchase of Hanoi based Vietnam Beverage Company. The runner-up was South Korea with $4.62 billion. Singapore ranked third with $3.77 billion and Japan outstripped China to rank fourth with $3.06 billion.

Projects with significant scales include Hong Kong Beerco Limited’s share purchase of Vietnam Beverage with the total capital of $3.85 billion, LG Display Hai Phong which increased investment capital by $410 million and a steel radial tires project by Chinese investors in Tay Ninh province with the total funds of $280 million.

By Anh Phuong – Translated by Ngoc Thanh

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