Ho Chi Minh City lures US$1.14bil FDIs in four months


HO CHI MINH CITY: Ho Chi Minh City reported a foreign direct investment (FDI) influx of US$1.14bil (RM4.68bil) in the first four months of 2021, a year-on-year decline of 12.92%.

Approximately US$360mil was channelled into 100 new projects, primarily in commerce (US$225.1mil) and real estate (US$125.8mil).

Meanwhile, US$403mil was added to 30 existing projects and another US$377.6mil was used for capital contribution and share purchases in a total 547 transactions.

Foreign investors pumped most of the capital in processing and manufacturing with US$322mil, making up 28.2%, followed by commerce with US$321.2mil, real estate (US$196.3mil), science and technology activities (US$175.4mil), and education-training (US$30.3mil).

Among 55 countries and territories investing in the city during the period, Japan took the lead with US$494.4mil, Singapore second with US$281.6mil, and South Korea was third with US$97.7mil.

Hua Quoc Hung, head of the management board of industrial and export processing zones of Ho Chi Minh City, said the southern hub’s processing and industrial zones had lured US$237mil as of late April, an increase of 26% against the same period last year.

The municipal People’s Committee has devised a plan to meet with FDI businesses in a bid to improve investment climate and support the firms, as well as introduce major projects and the city’s investment plans for the next five years. — Viet Nam News/ANN

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