A corner of Ho Chi Minh City. (Photo: VNA)
The figure was reported by Director of the city’s Department of Planning and Investment Le Thi Huynh Mai at a conference of the municipal People’s Committee on June 4 to review socio-economic performance in the January-May period.
Mai also reported that 16,664 domestic firms were licensed in the period with total registered capital of over 265.6 trillion VND (11.33 billion USD), surging by 43.2% year-on-year, with 36.7 percent of the new firms operating in the real estate sector.
Total revenues from retails and services in the five-month period amounted to 463.5 trillion VND, up 12.3 percent year on year.
Budget collection totaled 165.2 trillion VND, accounting for 41.39 percent of estimates.
There were 451 newly-licensed projects with a total capital of 472.16 million USD, up 22.6 percent in terms of the number and 9.2 percent in terms of the investment.
Ho Chi Minh City attracted 2.77 billion USD in foreign investment in the first five months of 2019. (Photo: VNA)
The property sector took the lead in foreign direct investment (FDI) attraction in HCMC in the first five months, with capital rising by 46.7% over the year-ago period.
The second position belonged to science and technology, making up 23.4% of the total investment in the city, followed by retail and wholesale as well as automobile and motorbike repair, representing 16.8%, while manufacturing and processing accounted for 5.3% of the total.
The five-month period also saw the city attract over US$214 million in additional capital for 102 operational foreign-invested projects, up 35.8% in value and 27.5% in volume, year-on-year.
During the period, the city allowed more than 1,700 foreign investors to buy stakes in domestic firms with a combined value of 2.08 billion USD, up 33.3 percent in volume and 64.3 percent in value.
Capital contribution and share purchases by foreign investors through mergers and acquisitions (M&As) in HCMC amounted to some US$2.08 billion during the period, up a whopping 64.3% year-on-year.
The total registered and additional capital of domestic enterprises surpassed 348.46 trillion VND (15.1 billion USD), up 4.6 percent year-on-year.
Chairman of the municipal People’s Committee Nguyen Thanh Phong urged local officials to accelerate the processing of investment projects’ procedures for the projects to be deployed in schedule.
The conference discussed the pace of several major projects in the city, including the upgrade of Xuyen Tam canal, the flood control project invested by Trung Nam group, and the selection of investors for waste-to-energy project.
