HCM CITY: REAL ESTATE MOST ATTRACTIVE TO FOREIGN INVESTORS IN FIRST TWO MONTHS

In the first two months of 2021, Ho Chi Minh City licensed three new foreign direct investment (FDI) projects with total registered capital of US$115 million, 99.7% of which was poured into the real estate industry.

This capital source came from Singapore (29.6%) and the Netherlands (70.1%), according to the municipal Statistics Department.

As of February 20, additional pledges of US$53.3 million were made to 22 existing projects in the city, while 168 foreign investors contributed capital to and purchased shares in domestic businesses with a value of US$169.5 million.

In total, Ho Chi Minh City attracted US$337.8 million worth of FDI between January and February, down 29.7% over the same period last year.

Of the figure, real estate was the largest FDI recipient with US$145.1 million (43% of the total), followed by science & technology activities with US$57.5 million (17%), the manufacturing industry with US$41 million (12.1%), education and training with US$27.9 million (8.3%), and commerce with US$25.5 million (7.5%).

Singapore represented the largest share of FDI inflows to HCM City in the first two months (37.1%), while the next four places were occupied by the Netherlands (23.9%), the Republic of Korea (13.2%), Cayman Islands (7.6%), and Japan (3.8%).

Source: VGP