February 19, 2019 | 15:24 (GMT+7)
Foreign investors pump USD 6 billion into HCM City via M&A
As a popular investment channel for foreign investors in recent times, mergers and acquisitions (M&A) secured Ho Chi Minh City USD 6 billion in foreign direct investment (FDI) projects in 2018.
At a recent conference held in the Southern largest economic hub, Vice Chairman of the municipal People’s Committee Le Thanh Liem said nearly 3,300 foreign investors were granted approval to register some USD 6 billion in investment in the city through M&A deals.
To date, registered capital via M&A is reckoned at more than USD 10 billion, 22 percent of total foreign investment poured into the city since 1988.
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A corner of Ho Chi Minh City |
Last year, municipal authorities licensed 1,060 new projects valued at more than USD 800 million and adjusted capital for 244 projects with increasing capital worth in excess of USD 800 million. The city now has 8,112 foreign-invested projects with total registered capital of nearly USD 45 billion.
FDI firms have made considerable contributions to the city’s development, especially in logistics and retail sales.
Source: VNA