Foreign investment in HCM City soars in two months
The southern economic hub of Ho Chi Minh City lured 443.1 million USD in foreign direct investment (FDI) in the first two months of 2017, a year-on-year rise of 61.3 percent.
HCM City (VNA) – The southerneconomic hub of Ho Chi Minh City lured 443.1 million USD in foreign directinvestment (FDI) in the first two months of 2017, a year-on-year rise of 61.3percent.
The statistics were revealed at a meeting of themunicipal People’s Committee on February 27.
Director of the municipal Department of Planningand Investment Su Ngoc Anh said in February alone, the city licensed 96 newprojects capitalised at 119.1 million USD, and allowed 24 existing ones toincrease investment with a combined added capital of 59.7 million USD.
FDI mainly went to such fields as informationand communication (50.5 million USD); automobile and motorbike (31.92 million USD);and processing and manufacturing (10.34 million USD).
Malaysia topped the list of investors with 44.24million USD or 37.2 percent of total investment, followed by Japan (24.34million USD), and the Netherlands (16 million USD).
In January – February, the city had 4,404newly-established businesses with a total registered capital of over 57trillion VND (2.6 billion USD), a year-on-year increase of 11 percent in numberand 100 percent in registered capital.
The new firms are mainly operating in realestate, automobile and motorbike, and construction.
To attract more investment, the municipalPeople’s Committee will continue taking measures to support businesses andimprove investment climate while holding meetings between local authorities andforeign-invested businesses.
The city will also help enterprises to increaseproductivity and product quality as well as establish a startup ecosystem andexpand overseas markets.-VNA
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Illustrative image (Photo: VNA) 
