Ho Chi Minh City lures over 3 billion USD in FDI in 11 months

Ho Chi Minh City attracted more than 3 billion USD in foreign direct investment (FDI) in the first 11 months of 2023, down 12.9% year-on-year, the city’s Statistics Office has announced.

In the reviewed period, the country's economic locomotive granted investment certificates for 1,090 new projects with a combined registered capital of 573.5 million USD, marking increases of 35.1% in the number of projects and 20.1% in capital over the same period last year.

Of the projects, 462 were in wholesale, retail, and repair of automobiles and motorbikes with registered capital totaling 218.9 million USD, accounting for 38.2% of the newly registered capital.

Among the nations and territories pouring capital into the city, Singapore ranked first with 184 projects and a total registered capital of 170.1 million USD, accounting for 29.7% of the newly registered capital.

It was followed by Japan with 95 projects and 81.2 million USD, accounting for 14.2%, and India with 40 projects and 62.2 million USD or 10.8%.

Regarding the adjustment of registered capital, 281 projects received a total additional 601.7 million USD.

Meanwhile, foreign investors conducted 2,099 transactions of capital contributions to or purchases of shares at domestic companies in the period, with a total value of 1.9 billion USD, up 26.7% year on year.

As of November 20, the city had 12,300 valid FDI projects with aggregate investment capital of 82.95 billion USD.