HCM City attracts US$1.97 billion in FDI in eight months
HCM City attracts US$1.97 billion in FDI in eight months

Throughout the reviewed period, the southern city granted 762 new projects with registered capital of US$390.4 million, representing an increase of 59.1% in terms of the number of projects and 26.2% in the number of capital on-year.

The wholesale and retail sector along with repair of cars and motorcycles led the way in terms of FDI attraction with 313 projects capitalised at US$124.6 million, followed by professional, scientific and technological activities with 199 projects valued at US$84.3 million. This is along with construction with four projects worth US$54.2 million and processing and manufacturing industry with 12 projects capitalised at US$50 million.

Singapore topped the list of countries pouring investment into the southern metropolis with registered capital reaching US$157.4 million, accounting for 40.3% of newly-registered capital.

The Republic of Korea ranked second with US$56 million, making up 14.3% of the figure, whilst the Netherlands had US$39.4 million, accounting for 10.1%.

Taiwan (China) had the highest adjusted capital in the reviewed period with US$216.4 million, accounting for 37.2% of adjusted registered capital.

According to information given by the Foreign Investment Agency under the Ministry of Planning and Investment, as of August 20, 2023, the country lured nearly US$18.15 billion in FDI during eight-month period, up 8.2% on-year./.