Today’s English “HCM City lures $1.14 billion in FDI in four months”

HCM City lures $1.14 billion in FDI in four months.

HCM City reported a foreign direct investment (FDI) influx of $1.14 billion in the first four months this year.

HCM City reported a foreign direct investment (FDI) influx of USD1.14 billion in the first four months of 2021, a year-on-year decline of 12.92 percent.

Approximately $360 million was channeled into 100 new projects, primarily in commerce ($225.1 million ) and real estate ($125.8 million).

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

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

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

Hứa Quốc Hưng, 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 as of late April, an increase of 26 percent against the same period last year.

The municipal People’s Committee has devised a plan to meet with FDI businesses in a bid to improve the investment climate and support the firms, as well as introduce major projects and the city’s investment plans for the next five years.

Refer to:
Vietnam news