FDI into HCM City in Q1 drops 33% year-on-year
FDI into HCM City in Q1 drops 33% year-on-year
HCM City has attracted over US$1 billion worth of FDI as of March 20, a 33 per cent drop year-on-year, according to the HCM City Statistics Office.
During this period, the city had 290 new projects with total registered capital of $142.5 million. While the number of new projects increased by 14.2 per cent compared to last year, their combined value dropped by 50.7 per cent.
Around $80.8 million of capital was poured into existing projects, a 30.9 increase year-on-year.
Meanwhile, $829.3 million was invested in buying shares and capital contributions.
New investment in commerce accounted for over 60 per cent of the total new investment capital in new projects. Other industries included science and technology, information and media, construction, and processing.
Thirty-seven countries and territories invested in the city during the period, including Singapore, Hong Kong and Japan.
As of March 20, the city had over 9,400 FDI projects, with total registered capital of $47.5 billion.
As for domestic investment, as of March 15, the city saw over 8,100 new businesses with a total registered capital of VND95 trillion ($4 billion), a 30.7 per cent decrease in terms of capital year-on-year.
