HCM city lures over 3.6 billion USD of FDI in 7 months
As much as 3.63 billion USD of foreign direct investment (FDI) capital was poured into Ho Chi Minh City in the first seven months of this year, an annual rise of 15.2 percent, according to the municipal People’s Committee.
HCMCity (VNA) - As much as 3.63 billion USD of foreign directinvestment (FDI) capital was poured into Ho Chi Minh City in the first sevenmonths of this year, an annual rise of 15.2 percent, according to the municipalPeople’s Committee.
Of the amount, nearly 688.8 million USD came from 678 newly registeredprojects, up 26.9 percent in the capital and 18.3 percent in the number ofprojects year-on-year.
In the period, 2,668 foreign investors bought shares and acquired stakes of domestic enterpriseswith a total registered capital of 2.6billion USD, 28.3 percent and 16.7 percent higher than those in the same periodlast year.
Meanwhile, HCM City granted business licences to 24,529new domestic enterprises worth over 396 trillionVND (over 17 billion USD), up 0.9 percent and 25.7percent respectively.
Up to 71,874 existing enterprises were allowed toadd a combined of over 160.4 trillion VND (over 6.9 billion USD) to their investment,up 2.2 percent and 63 percent respectively.
The municipal People’s Committee said trade and investment promotion activitieshave contributed to accelerating economic restructuring of the city and promotingexport of high value-added processed products.
These have also helped increase confidence of investors in the city’sinvestment and business environment.
To further expand the development of domestic and FDI enterprises, municipalauthorities will continue to pay attention to simplifying administrativeprocedures and removing difficulties facing enterprises related to investment, thusfacilitating their production and business in the locality.
Trade promotion activities and conferences will be arranged to enhancedialogues with enterprises, towards promoting cooperation between domestic and foreigninvestors.-VNA
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Processing products for exports (Source: VNA) 
