HCMC attracts huge capital for foreign investment projects

Ho Chi Minh City has attracted a large sum of capital for foreign direct investments (FDI) in 2007 to become one of the country's premiere FDI destinations.

A report from HCMC's Statistics Bureau said more than 460 foreign investment projects were licensed this year, an increase of 62.5 percent in terms of the number of projects and 40.1 percent in terms of their typical value.

The city has seen an expansion of foreign investment projects in 2007 with addition capital of US$310.9 million being put into projects, increasing the total FDI capital in the region to about $2.6 billion, a rise of 16 percent compared with 2006.

Foreign investors favored real estate and consultancy services which obtained 53.3 percent of their capital, the report said, adding that industrial parks attracted about 6.5 percent and hi-tech parks about 6.2 percent of their total investment.

There are about 2,610 licensed FDI projects underway in the city worth a total of $16.55 billion.

Industries account for 40 percent of these while 23.4 percent are involved in real estate and consultancy services.

Thanhnien

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