The total inflows of foreign direct investment into Ho Chi Minh City from early this year to May 20 reached over 1.14 billion USD, down 13.5% annually, reported the municipal Department of Planning and Investment.
HCM City (VNA) – The total inflows of foreign direct investment into Ho Chi Minh City from early this year to May 20 reached over 1.14 billion USD, down 13.5% annually, reported the municipalDepartment of Planning and Investment.
Of them, 199.8 million USD was poured into 374new projects, down 2.5% year-on-year.
Singapore took the lead in thenumber of new projects, with 72 ones valued at 121.5 million USD, accountingfor 60.8% of the total newly-registered capital. Japan came next with32 projects worth 16.5 million USD, or 8.3%, and Hong Kong (China) was third with 25projects worth 11.1 million USD, equivalent to 5.6%.
Up to 121 projects received additionalcapital of 403.3 million USD, marking an annual decrease of 35.3%.
US projects recorded the most adjustedcapital with 215.1 million USD, or 53.3% of the total.
⭕ Foreign investors spent 541.1 millionUSD on capital contribution and share purchase in the period, up 9.3% annually. Singapore and Cayman Islands posted the highest capitalcontribution, with 53.6% and 11/5% of the total, respectively./.
The global corporate minimum tax is unlikely to impede Vietnam’s FDI inflows given the fact that tax incentives are not the primary attraction for setting up a factory in Vietnam, said Michael Kokalari, chief economist at investment fund VinaCapital.
The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.
Amid the slowing down of the global investment flows, experts held that improving both quality and number of foreign investment projects is a heavy task for Vietnam, requiring great efforts from the Vietnamese Government to fulfil the “dual targets”.
The global corporate minimum tax is unlikely to impede Vietnam’s FDI inflows given the fact that tax incentives are not the primary attraction for setting up a factory in Vietnam, said Michael Kokalari, chief economist at investment fund VinaCapital.
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Illustrative image (Photo: VNA) 
