Vietnam - HCM City's Q1 FDI attraction drops 96.5pct year-on-year

From early this year to mid-March, HCM City granted license to 59 foreign direct investment (FDI) projects totalling $39 million, down 96.5 percent over last Q1, according to HCM City Statistics Bureau.

The capital scale of these projects was small. 15 of 59 newly-licensed FDI projects have investment capital of less than $100,000, of which, Archi Voice project has an investment capital of $12,200, project of S-CIE consulting firm is worth $15,000 and project of Planb Co is worth $20,000.

Regarding the investment model, there were 13 joint-venture projects valued at $6.7 million and 46 were 100 percent FDI projects worth $32.3 million.

Considering the fields, in the first quarter of this year, industry sector attracted seven projects worth $15.5 million, of which, project to build Vilube 2 plant has total investment of $10 million, accounting for 25.6 percent of the total investment.

Construction sector drew six projects worth $3.6 million, trade sector with 20 projects worth $12 million and real estate trading and consulting services sectors with 23 projects totalled $7.1 million.

Japan topped the list of the foreign investors in the period with $8 million for 15 projects, followed by Singapore with $4 million and Korea with $3.3 million.

HCM City also allowed 19 ongoing FDI projects to add $20.4 million capital in the period, decreasing 37.8 percent on year.

Thus, the total newly granted and raised FDI capital as of March 15 in HCM City reached $54.9 million.

VietBiz24

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