HCM City draws more 1.37 billion USD in foreign investment
Ho Chi Minh City attracted 1.37 billion USD in foreign direct investment (FDI) in the first five months of 2017, a year-on-year increase of 45.8 percent.
HCM City (VNA) – Ho Chi Minh Cityattracted 1.37 billion USD in foreign direct investment (FDI) in the first fivemonths of 2017, a year-on-year increase of 45.8 percent.
According to the municipal Department ofPlanning and Investment, the southern metropolis granted investment licences to283 new projects worth 341.98 million USD and allowed 81 existing ones toincrease capital of 287.05 million USD.
The city also permitted 775 foreign investors toregister to contribute capital to and buy shares in businesses, with a totalcapital of 742.2 million USD.
The processing and manufacturing industry wasthe most attractive with nearly 123 million USD (making up 35.9 percent),followed by wholesale and retail, and automobile and motorcycle repair with over92 million USD (27.1 percent),information and communications with 55 million USD (16.2 percent), and realestate activities with 40.25 million USD (11.8 percent).
In January-May, the total newly registered andsupplemented capital from domestic enterprises was over 453.5 trillion VND(19.67 billion USD), 2.4 times higher than the same period last year.
HCM City plans to develop 60,000 businesses in2017. The municipal authorities have so far encouraged 413 business householdsto turn themselves into enterprises.-VNA
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HCM City welcomes and pledges to create the best conditions for businesses from Sakai city in the Japanese prefecture of Osaka to invest in the southern largest economic hub, said a local official.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Source: VNA) 
