Ho Chi Minh City sees FDI surge in February - Ho Chi Minh City sees FDI surge in February - Website Ho Chi Minh City
Ho Chi Minh City attracted 506.3 million USD in investments this month, a 170.5 percent rise from the same period last year, according to the municipal Department of Planning and Investment.
During February, the city licensed 44 new projects with a total investment of 421 million USD, up 5.1 percent and 180 percent annually, respectively.
An additional 84.6 million USD was injected into 20 ongoing projects, an annual increase of 131 percent in capital and 53.9 percent in the number of projects.
Le Hoang Quan, Chairman of the municipal People’s Committee, attributed the commendable results to the city’s effective efforts in investment procedure and policy reform.
The impending completion of a number of industrial parks in the locality is expected to help the city lure further investment, he said.
Regarding domestic investment, Thai Van Re, Director of the municipal Department of Planning and Investment said growth was seen in both enterprises and investment with over 40 trillion VND (1.88 billion USD) invested in February.
As many as 3,826 companies were established with a total capital of 18.29 trillion VND (859.6 million USD), a surge of 58 percent and 34 percent, respectively. Meanwhile, 21.76 trillion VND (1.02 billion USD) went to 6,659 existing enterprises, he noted.
The Saigon Hi-Tech Park lured 82.6 million USD in the first two months of this year, raising the total investment in the park to over 4.25 billion USD, including 3.36 billion USD in FDI.
Thus far this year, foreign investors have invested 367 million USD in industrial parks and export processing zones across the city.