FDI in HCMC up 67.5% in 11 months

Ho Chi Minh City (HCMC) lured over $1.92 billion in foreign direct investment (FDI) in the first 11 months, up 67.5 per cent against the same period last year, according to the municipal Department of Planning and Investment.

Korean group Lotte just pours $100 million in building its second trade center in District 11, Ho Chi Minh City

Nearly $1.7 billion came from 331 new FDI projects licensed in the period, up 110 per cent, and the rest was the additional capital of 85 ongoing projects.

According to the department, a large amount of FDI was poured into projects relating to real estates, trade centers and industrial production.

Korean group Lotte spent $100 million on building its second trade center in District 11.Meanwhile, Nidec Copal Precision Vietnam, affiliated to Japanese group Nidec, is investing $70 million in the HCMC Hi-Tech Zone to produce compact motors and their components.

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