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VietNamNews

HCM City FDI soars over $2b on new projects

Update: January, 21/2014 - 08:59
Foreign direct investment in HCM City was up 52 per cent last year, reaching over $2 billion.— Photo tinhte
HCM CITY (VNS)  — Foreign direct investment in HCM City was up 52 per cent last year, reaching over $2 billion, according to the Department of Planning and Investment.

Of this, $1.05 billion was invested in 477 new projects, an increase of 76.7 per cent from the previous year. Some $305 million of this went to 102 science and technology projects.

Despite the many challenges facing the sector, $147 million was directed to 10 property projects. Also last year, 67 foreign projects, with a total registered capital of $436.7 million, were relocated to other provinces and cities or shut down.

There are 4,924 operational FDI projects in the city now, with a total registered capital of $33.5 billion. Singapore accounted for the largest amount of investment last year, followed by Malaysia and South Korea.— VNS

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