HCMC: FDI inflow centers on garment and textile sector

VGP – Industrial parks and processing zones in Ho Chi Minh City (HCMC) absorbed nearly US$ 265 million of FDI in the first half of 2014, of which 82% came to the garment and textile sector.

July 16, 2014 2:17 PM GMT+7

Illustration photo

The HCMC Industrial and Export Processing Zone Management Board reported that the city lured a total of US$ 333.47 million in investment capital in the first six months (meeting over 60% of the year's target). The figure posted a year-on-year increase of 55.49%.

In the January-June period, domestic investment valued over VND 1.4 trillion, up 1.2% against the same period last year with 37 newly-licensed projects.

Meanwhile, the city attracted US$ 264.67 million in FDI, representing a year-on-year increase of 80.69% with 19 newly-registered projects and 16 others increasing capital.

Noticeably, the FDI inflow focused on high-class fabric.

The management board also announced that they would establish two industrial parks specializing in auxiliary industries to serve the mechanic engineering, electronics and IT industries./.

By Kim Loan