Ho Chi Minh City attracts over $3 billion in FDI in 11 months

Khanh Minh Monday | 12/04/2023 12:56

Photo by VNA.

Over $3 billion in FDI came to HCMC in the first 11 months of 2023. This is 12.9% less than the same time last year, according to the city's Statistics Office.

Over the past year, the country's economic engine gave investment certificates to 1,090 new projects with a total registered capital of $573.5 million. This is an increase of 35.1% in the number of projects and 20.1% in the amount of capital compared to the same time last year.

Out of the projects, 462 were in the wholesale, retail, and service of cars and motorcycles. They had a registered capital of $218.9 million, which was 38.2% of the new capital.

Singapore had the most projects with $184 million in registered capital, making up 29.7% of the newly registered capital. It was the most capital from a country or territory coming into the city.

Japan came in second with 95 projects and $81.2 million, or 14.2%. India came in third with 40 projects and $62.2 million, or 10.8%.

281 projects got an extra $601.7 million because of the change in registered capital.

During the same time period, foreign investors bought or contributed capital to 2,099 domestic businesses, worth a total of $1.9 billion. This is an increase of 26.7% year over year.

As of November 20, the city had 12,300 legally approved FDI projects worth a total of $82.95 billion.

Source: Nhân Dân