99 per cent of HCMC's FDI Poured in Real Estate, Consultancy Service in Q1
Up to 99 per cent of the total US$1.84 billion of FDI lured by Ho Chi Minh City in the first quarter this year has been poured into the real estate projects and consultancy services, the state-run Vietnam News said.
Most investors pumped their money into property development in the first two months, largely spurred on by a plummeting stock market and fluctuating gold market, the newspaper noted.
Of the total 95 FDI projects the city has licensed so far, 27 were joint ventures worth US$889.3 million, and 68 were 100 per cent foreign invested projects capitalized at US$957.6 million, the newspaper said.
In the first quarter, 22 existing foreign invested projects registered to increase their capital by US$70.5 million, of which 13 were in the industrial production.
South Korea tops the list of foreign investors with the highest number of effective FDI projects, up to 601 projects valued at US$2.84 billion, accounting for 14.8 per cent of the city’s total. (VNS)
Vietnamese
