HCMC ABSORBS US$ 3.63 BILLION FDI IN FIRST SEVEN MONTHS

Ho Chi Minh City attracted US$ 3.63 billon of FDI in the first seven months of 2019, representing a year-on-year growth of 15.2%, the HCMC municipal People’s Committee reported.



The HCM People’s Committee attributed trade promotion and investment activities to transformation of economic structures, higher proportion of processing and high added products, better investment attraction and business confidence in the business and investment environment.

In the first seven months, the city absorbed US$ 3.63 billion of FDI, up 15.2% against the same period last year.

Up to 678 FDI projects got new investment registration certificates worth US$ 688.79 million, up 18.3% in number and 26.9% in value.

About 168 projects got additional capital of US$ 435 million. The city allowed 2,668 foreign investors to buy US$ 2.6 billion of shares, up 28.3% in number and 16.7% in value.

In the January-July period, 24,529 enterprises were founded with a total registered capital of VND 396 trillion, up 0.9% in number and 25.7% in value.

Meanwhile, 71,874 enterprises registered to alter business registration and supplemented capital of VND 160 trillion, up 2.2% in number and 63% in value.

In the coming time, the HCMC People’s Committee will continue improving the  investment environment including streamlining administrative procedures and allocating land fund for enterprises.

A working group led by the Chairman of HCMC People’s Council will meet weekly to resolve emerging problems for enterprises.

Source: VGP


Related News