Vietnam Southern Hub Reports US$1.92-Bln FDI in First Quarter
Ho Chi Minh City has attracted US$1.92 billion in total foreign direct investment (FDI) between January and March this year, with US$1.82 billion, or 98 per cent, of the capital poured into real estate and consultancy services, state media reported.
In the period, the city licensed 95 new FDI projects worth US$1.85 billion, including 27 joint venture projects capitalized at US$890 million and 68 wholly foreign-invested ones of nearly US$958 million.
It also allowed 22 existing projects to raise their capital US$70.5 million in the first quarter.
Ho Chi Minh City is now home to over 2,730 valid FDI projects totaling US$19.2 billion, mostly focusing in the areas of industrial sector (38.5 per cent) and real estate and consultancy services (31.6 per cent).
South Korea is the biggest foreign investor in the city with 601 projects costing US$2.844 billion.
Since early this year, the locality has licensed 3,950 new non-state businesses with a registered capital of over VND12 trillion, up 32 per cent in the business number and 78 per cent in the capital on-year. (VNA, Youth)
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