FDI flows surge in HCM City in February

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During February, the city licensed 44 new projects with a total investment of US$421 million, up 5.1% and 180% annually, respectively.

An additional US$84.6 million was injected into 20 ongoing projects, an annual increase of 131% in capital and 53.9% in the number of projects.

Chairman of the municipal People’s Committee Le Hoang Quan attributed the commendable results to the city’s effective efforts in investment procedure and policy reform.

The impending completion of a number of industrial parks in the locality is expected to help the city lure further investment, he said.

Regarding domestic investment, Thai Van Re, Director of the municipal Department of Planning and Investment said growth was seen in both enterprises and investment with over VND40 trillion (US$1.88 billion) invested in February.

As many as 3,826 companies were established with a total capital of VND18.29 trillion (US$859.6 million), a surge of 58% and 34%, respectively. Meanwhile, VND21.76 trillion (US$1.02 billion) went to 6,659 existing enterprises, he noted.

The Saigon Hi-Tech Park lured US$82.6 million in the first two months of this year, raising the total investment in the park to over US$4.25 billion, including US$3.36 billion in FDI.

Thus far this year, foreign investors have invested US$367 million in industrial parks and export processing zones across the city./VNA./.