Double Increase in Attracting FDI Capital In Ho Chi Minh City
Official information on Vietnam's FDI attraction in 2017 has been announced at the Conference on implementing plan of socio-economic development and budget estimate in 2018 held by Ho Chi Minh city's People's Committee.
Investment in Vietnam - Specifically, total capital attracted through the form of capital contribution, purchase of share, purchase of capital contribution in domestic enterprises reached US$ 6.38 billion, up nearly 2 times over the same period. In particular, the certificate of investment registration has been newly licensed for 803 projects with total registered capital of US$ 2.34 billion; 194 projects increased capital with total of US$ 962.63 million.
The city also approved 2,276 cases of foreign investors carrying out procedures to contribute capital, purchase shares and buy back capital contributed by domestic enterprises, with a total registered capital of US$ 3.68 billion.
According to the HCM City People's Committee, FDI projects are granted new licenses if classified by occupations/ sectors: Most registered capital is real estate business (43.4%) with US$ 1.01 billion; followed by processing industry (24.2%) with US$ 567.93 million; professional activities, science and technology (13.8%) with 322.83 million; wholesale, retail, auto repair, motorbike (9.4%) with US$ 220, 49 million, and so on.
Up to now, there are 7,372 FDI projects in Ho Chi Minh with total registered capital of nearly US$ 45 billion.
At the conference, Ho Chi Minh City set 20 important targets for socio-economic development in 2018, in which the GRDP strives to reach 8.3 - 8.5% compared to 2017 (8.25% ).
To complete the above objectives, the City will focus on effective implementation of Conclusion No. 21 of the Politburo, Resolution No. 54 of the National Assembly on the pilot mechanisms and special policies for the development of Ho Chi Minh City.
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