HCM City reports twelve-fold year-on-year increase in FDI influx

Ho Chi Minh City has over the first seven months licensed 271 foreign invested projects worth more than 7.71 billion USD, 12 times higher than the total FDI volume of the same period last year.

The figure marks a two-decade record for the period since the Foreign Investment Law took effect in 1988.

Over the recent months, the city has actively deployed measures to cope with the increasing inflation and develop the economy.

In addition, it continues to work to improve investment climate, and accelerate administrative reform in investment licensing procedures. It also sought domestic and foreign capital sources to upgrade transport facilities, seaports, and telecoms services to facilitate the implementation of investment projects.

As a result, foreign investors have chosen the city for their multi-billion USD projects, such as the 3.5 billion USD Berjaya International University project, and the TECO software park project valued 1.2 billion USD.

HCM City now has 2,908 valid projects with a total capital of 24.91 billion USD.

VNA

>   Vietnam urged to boost exports and domestic production (23/07/2008)

>   Vietnam imports more salt to cope with first shortage in decades (23/07/2008)

>   Commercial centres head overseas (23/07/2008)

>   Vietnam to import 200,000 tonnes of salt (23/07/2008)

>   Household economic production needs to be reformed (23/07/2008)

>   HCM City secures a record low of CPI in July (23/07/2008)

>   A long-term solution needed (23/07/2008)

>   Many more new projects in southcentral province (23/07/2008)

>   Hai Phong lures $1 billion in FDI (23/07/2008)

>   Multi-billion USD projects pour into Vietnam (23/07/2008)