FDI flow into HCM City surges 50% in first nine months
Foreign direct investment (FDI) in Ho Chi Minh City rose sharply in the last nine months, with US$5.47 billion poured into the southern economic hub over the period, up 50% year on year.
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The property sector received 20.2% of the FDI capital.
The FDI flow mostly came from the Republic of Korea (28.1%), Singapore (25.7%), Norway (11%) and Japan (10%), according to the municipal People’s Committee.
Between January and September, new and additional domestic capital registered in HCM City hit nearly VND673.49 trillion (US$28.66 billion), up 11.2% from a year earlier. The figure included more than VND372.43 trillion (US$15.85 billion) in 30,600 new businesses and VND301 trillion (US$12.8 billion) added to existing firms.
Regarding the continuous increase of capital poured into the property market, insiders predicted the sector will witness an even stronger capital influx in the remaining months of 2018.
