HCM City draws nearly 980 million USD of FDI in four months
Ho Chi Minh City has attracted 979.65 million USD of foreign direct investment (FDI) so far this year, down 23.45% year on year, according to the municipal People’s Committee.
Nearly 980 million USD in FDI poured into HCM City in the first four months of 2023 (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City has attracted 979.65 million USD of foreign directinvestment (FDI) so far this year, down 23.45% year on year, according to themunicipal People’s Committee.
In the first fourmonths of 2023, the southern economic hub saw 171.32 million USD in newprojects, mostly in automobile and motorbike industry with 63.3 million USD,and construction with 53.7 million USD.
Singapore was theleading investor in the city in the January-April period with 58 projects worth108.3 million USD, accounting for 63.2% of total FDI in new projects. It wasfollowed by Japan with 26 projects worth 14.8 million USD, and Hong Kong (China)with 23 projects valued at 11.1 million USD.
Meanwhile, 372.63million USD was injected in 95 underway projects in the city in the period,along with 435.69 million USD poured in share purchase and capital contributiondeals.
Since the beginning ofthe year, the city has seen the termination of 74 FDI projects with a totalinvestment capital of more than 60 million USD.
According to the cityPeople’s Committee, as of April 2023, the city had been home to 11,668 operatingFDI projects worth over 56.68 billion USD. Along with capital added in underwayprojects and share purchase deals, so far, HCM City has attracted nearly 80.91billion USD of FDI in total.
In the first four monthsof 2023, HCM City drew 240.28 trillion USD of domestically-invested capital,down 43.3% over the same period last year.
The city also saw14,752 newly-established businesses with total 144.56 trillion VND (6.16 billion USD), ayear-on-year drop of 9.59% in project number and 58.71% in value. Meanwhile,1,207 businesses were dissolved, 14,908 hailed operations, and 5,565 othersresumed business. To date, the city has been home to 530,013 companies withcombined capital of 10.1 quadrillion VND./.
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Nearly 980 million USD in FDI poured into HCM City in the first four months of 2023 (Photo: VNA) 
