Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
HCM City attracts US$1.97 billion in FDI in eight months
Ho Chi Minh City attracted US$1.97 billion in foreign direct investment (FDI) during the eight months of the year, a fall of 27.2% against the same period from last year, according to the Ho Chi Minh City Statistical Office.
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| 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./.
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