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  Foreign Investment

HCM City: big increase in foreign investment

Ho Chi Minh City licensed 80 foreign-invested projects, totally capitalised at 670.2 million USD, in the first four months of this year, representing a 6.3 time increase from the same period last year.

Of the projects, including 32 in processing, 28 in property trading and consultancy, and two in healthcare, 67 are wholly foreign investments and 13 are joint ventures.

Investors from Hong Kong took the lead in terms of capital poured into the city, with 605 million USD. They were followed by the Korean, with 24 million USD, the Japanese, with 22.6 million USD; the British Virgin Islands, 4.8 million USD; Singapore, 2 million USD; and Taiwan, 1.9 million USD.

In the four-month period, with 28 projects being licensed to expand their investment capital by 49.5 million USD and three others to reduce their investment capital by 43.9 million USD, the city posted a total foreign investment of 719.7 million USD as compared to 139.7 million USD of the same period last year.

The city has to date had a total of 1,980 foreign-invested projects, capitalised at 12.9 billion USD.

It also boasted a project to build a polyclinic in Phnom Penh, Cambodia, with a total investment 10.5 million USD, to which the Vietnamese partner contributes 7.3 million USD.

Communist Party of Vietnam - (24/04/2006)

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