Ho Chi Minh City Maintains Top Position in FDI Attraction

Diep Nguyen

16:31 10/09/2018

BizLIVE -

According to the Department of Planning and Investment of Ho Chi Minh city, during this first 7 months of this year, total 553 new projects got the new investment licenses.

Ho Chi Minh City Maintains Top Position in FDI Attraction
According to Vietnam Plus, since policies to attract foreign direct investment (FDI) were applied from January 1, 1988, Ho Chi Minh City has led the way in luring investment.
Statistics from the municipal People’s Committee show that after 30 years of FDI attraction, the city has hosted 7,700 FDI projects with a total capital of 44.87 billion USD, clinching the first position in the field.
In 2016-2018 (as of June 2018), the city lured 14.4 billion USD in new projects and through deals with domestic ones, along with 2.14 billion USD injected into 525 underway projects. The city also approved 6,340 investors to contribute capital and buy shares of Vietnamese firms to the tune of 7.27 billion USD.
This year, Ho Chi Minh City is still the hot spot of attracting foreign investment capital. In the first 7 months of the year, total 4.69 billion USD was poured into Ho Chi Minh City, an increase of 70.5 percent year-on-year.
According to the Department of Planning and Investment of Ho Chi Minh city, during this period, total 553 new projects got the new investment licenses. Total investment value reached 508.25 million USD.
Also in this seven months, Ho Chi Minh City administration approved for 1,628 foreign investors to raise capital to buy more stakes. The registered capital is equal to 3.73 billion USD. Compared to the same period of last year, the number of cases rose by 31.4% and 2.3 times in capital. 

DIEP NGUYEN