Illustrative image (Photo: VNA) HCM City (VNA) - Foreign investment in Ho Chi Minh City has totalled 2.37billion USD this year, including new and additional capital and sharepurchases, down 32.9 percent year-on-year.
There were598 new projects with registered capital of 355.9 million USD, down 11.8percent in volume and 48.3 percent in value. Some 113 projects added capital of209.2 million USD.
More than 2,400purchases of shares were made by foreign investors, worth more than 1.81 billionUSD, down 27.8 percent year-on-year.
The tradesector led in terms of registered capital in the first seven months, with 624.1million USD, accounting for 26.2 percent of the total. It was followed by realestate, with 441.6 million USD, or 18.6 percent, manufacturing and processing315.6 million USD, or 13.3 percent, information and communications 149.4million USD, or 6.3 percent, and construction 113.1 million USD, or 4.8percent.
Investorsfrom 104 countries and territories have registered new projects, added capital,or purchased shares this year. Singapore led the way, with 570.1 million USD, or24 percent of the total, then the Republic of Korea with 357.9 million USD, or15.1 percent, Japan 331.1 million USD, or 13.9 percent, the Cayman Islands261.9 million USD, or 11 percent, the British Virgin Islands 137.6 million USD,or 5.8 percent, and the Netherlands 118 million USD, or 5 percent.
In order tobecome a popular destination among foreign investors post-pandemic, Director ofthe municipal Department of Planning and Investment Le Thi Huynh Mai said thecity will focus on upgrading infrastructure, allocating capital to keytransportation projects, and stepping up the progress of construction works.
It will alsoaccelerate administrative reform and the building of several industrial parks(IPs), including a hi-tech IP on 380 ha in Binh Chanh district.
Accordingto Savills Vietnam’s June global survey, Vietnam still leads in attracting globalcorporations thanks to its low costs and modern manufacturing facilities.
In 2019, the city attracted 8.3 billion USD worth of foreign investment, with its labour productivity being nearly three times that of the whole country (299.8 million VND per person, an increase of 6.8 percent over 2018).
Meanwhile, the total number of international visitors to the city reached 8.5 million, a year-on-year increase of 14 percent with revenues up by 14.5 percent over 2018
The local gross regional domestic product (GRDP) reached more than 1.34 quadrillion VND, an 8.32 percent increase year-on-year.
Before the outbreak of COVID-19, the city set a target of achieving a growth rate of 8.5 percent for GRDP in 2020, with total private investment accounting for 35 percent of GRDP.
This year, HCM City also aims to have 44,000 new businesses, creating 135,000 new jobs.
The city has more than 74 recognised science and technology businesses out of around 200 nationwide. Ninety percent of enterprises in HCM City are micro- or small-sized enterprises and lack the financial and human resources for R&D.
The city has approved a science and technology market development programme, which targets increasing the value of science and technology products and services by 15 percent annually in the next five years and 20 percent in the case of key technologies./.
There were598 new projects with registered capital of 355.9 million USD, down 11.8percent in volume and 48.3 percent in value. Some 113 projects added capital of209.2 million USD.
More than 2,400purchases of shares were made by foreign investors, worth more than 1.81 billionUSD, down 27.8 percent year-on-year.
The tradesector led in terms of registered capital in the first seven months, with 624.1million USD, accounting for 26.2 percent of the total. It was followed by realestate, with 441.6 million USD, or 18.6 percent, manufacturing and processing315.6 million USD, or 13.3 percent, information and communications 149.4million USD, or 6.3 percent, and construction 113.1 million USD, or 4.8percent.
Investorsfrom 104 countries and territories have registered new projects, added capital,or purchased shares this year. Singapore led the way, with 570.1 million USD, or24 percent of the total, then the Republic of Korea with 357.9 million USD, or15.1 percent, Japan 331.1 million USD, or 13.9 percent, the Cayman Islands261.9 million USD, or 11 percent, the British Virgin Islands 137.6 million USD,or 5.8 percent, and the Netherlands 118 million USD, or 5 percent.
In order tobecome a popular destination among foreign investors post-pandemic, Director ofthe municipal Department of Planning and Investment Le Thi Huynh Mai said thecity will focus on upgrading infrastructure, allocating capital to keytransportation projects, and stepping up the progress of construction works.
It will alsoaccelerate administrative reform and the building of several industrial parks(IPs), including a hi-tech IP on 380 ha in Binh Chanh district.
Accordingto Savills Vietnam’s June global survey, Vietnam still leads in attracting globalcorporations thanks to its low costs and modern manufacturing facilities.
Ho Chi Minh City is the largest city in Vietnam and the economic hub of the southern region. Accounting for 0.6 percent of Vietnam’s total land area and about 9 percent of the country’s population, it is part of the southern key economic zone, which also comprises Dong Nai, Ba Ria - Vung Tau, Binh Duong, Long An, Tay Ninh and Binh Phuoc provinces. In the southern economic hub, over 3,000 projects across all sectors are supported by foreign capital, while the number of registered enterprises has exceeded 100,000.
In 2019, the city attracted 8.3 billion USD worth of foreign investment, with its labour productivity being nearly three times that of the whole country (299.8 million VND per person, an increase of 6.8 percent over 2018).
Meanwhile, the total number of international visitors to the city reached 8.5 million, a year-on-year increase of 14 percent with revenues up by 14.5 percent over 2018
The local gross regional domestic product (GRDP) reached more than 1.34 quadrillion VND, an 8.32 percent increase year-on-year.
Before the outbreak of COVID-19, the city set a target of achieving a growth rate of 8.5 percent for GRDP in 2020, with total private investment accounting for 35 percent of GRDP.
This year, HCM City also aims to have 44,000 new businesses, creating 135,000 new jobs.
The city has more than 74 recognised science and technology businesses out of around 200 nationwide. Ninety percent of enterprises in HCM City are micro- or small-sized enterprises and lack the financial and human resources for R&D.
The city has approved a science and technology market development programme, which targets increasing the value of science and technology products and services by 15 percent annually in the next five years and 20 percent in the case of key technologies./.
VNA
