HCM City lures 1.14 billion USD in FDI in four months

Of the amount, 360 million USD was channeled into 100 new projects, primarily in commerce (225.1 million USD) and real estate (125.8 million USD).

A corner of HCM City

Meanwhile, 403 million USD was added to 30 existing projects and another 377.6 million USD was used for capital contribution and share purchases in a total 547 transactions.

Foreign investors pumped most of the capital in processing and manufacturing with 322 million USD, making up 28.2 percent, followed by commerce with 321.2 million USD, real estate (196.3 million USD), science and technology activities (175.4 million USD), and education-training (30.3 million USD).

Among 55 countries and territories investing in the city in the period, Japan took the lead with 494.4 million USD, Singapore came second with 281.6 million USD, and the Republic of Korea was third with 97.7 million USD.

Hua Quoc Hung, head of the management board of industrial and export processing zones of HCM City, said the southern hub’s processing and industrial zones had lured 237 million USD as of late April, surging 26 percent against the same period last year.

The municipal People’s Committee has devised a plan to meet with FDI businesses in an effort to improve investment climate and support the firms, as well as introduce major projects and the city’s investment orientations for the 2021-25.

Source: VNA