FDI into HCM City quintuples in 2008
15:10 | 04/01/2009
VGP - Despite the global financial crisis, FDI in Hồ Chí Minh City hit US $8.65 billion in 2008, 5 times higher than that of the previous year.

Foreign-invested schools and hospital have been built in HCM City

 Over the past 20 years, the city has attracted more than 3,100 projects worth of US $25.5 billion, in which US $8 billion was obtained in 2008.

Real estate projects have numbered 786 (accounting for 25% of the total number of projects) valuing US $6.9 billion (27% of the total investment capital). The figures for service sector were 921 projects (29%) and US $11 billion (43%).

The city has mobilized a large volume of investment in science, hi-tech, education and healthcare, with such large-scale projects as the international university urban quarter (US $3.5 billion), Teco Software Park (US $1.2 billion) and the Hi-tech Healthcare Center (US $400 million).

To date, nearly US $10 billion of FDI capital has been disbursed, accounting for 37% of the registered capital.

The Municipal People’s Committee said that FDI projects have helped to improve people’s living standards, develop infrastructure in export-processing zones and reclaiming 3,500 ha of fallow or salt-contaminated lands into industrial parks and public works.

Foreign-invested schools and hospitals were built in the city.

The proportion of the FDI sector in the city’s total export value increased from 10.3% in 1995 to 27% in 2007-08.

The year 2009 is predicted to be a period of difficulties and challenges resulted from the globally expanding economic recession. Thus, the city pledged to offer more investment incentives, boost up administrative reforms, and popularize the “on-stop shop” mechanism to facilitate production and business activities. The city also plans to stimulate urban infrastructure projects and speed up capital disbursement.

The FDI influx into the city this year is assured to remain high.

By Ngọc Vân

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