Singapore biggest foreign investor in HCM City

May 30, 2023 | 16:46

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Singapore was the biggest foreign investor in Ho Chi Minh City in terms of newly-registered projects and capital contribution for share purchases in the last five months, with 72 new projects worth 121.5 million USD, accounting for 60.8 per cent of the total capital of the new projects.

Singapore biggest foreign investor in HCM City

A view of HCM City (Photo: VNA)

HCM City - Singapore was the biggest foreign investor in Ho Chi Minh City in terms of newly-registered projects and capital contribution for share purchases in the last five months, with 72 new projects worth 121.5 million USD, accounting for 60.8 per cent of the total capital of the new projects.

According to the municipal Department of Statistics, Japan came second with 32 new projects totaling 16.5 million USD, making up 8.3 per cent of the total.

In the January-May period, the southern economic hub saw 374 new projects with a combined capital of 199.8 million USD. Meanwhile, 403.3 million USD were added to 121 existing ones.

As many as 836 foreign investors poured 541.1 million USD into capital contribution and share purchase deals in the first five months, up 9.3 per cent compared to the same period last year. Singapore and Cayman Islands had the highest proportion of capital contribution in the reviewed period, accounting for 53.6 per cent and 11.5 per cent, respectively.

In the first five months, HCM City saw 18,630 newly-established enterprises, up 7.8 year on year, with a total registered capital of 178.78 trillion VND (over 7.6 billion USD), down 21.2 per cent.

From January 1, 1988, to May 20, 2023, HCM City recorded 11,734 valid foreign-invested projects with a total value of over 56.71 billion USD.

At the same time, 81.04 billion USD was added to operating ones and invested in capital contribution and share purchase deals.

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Remittances to Ho Chi Minh City are expected to reach 7 billion USD in 2023, an annual increase of about 6-7 per cent.

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Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan on May 25 hosted a reception for Jagrup Brar, Minister of State for Trade at the Ministry of Jobs, Economic Development and Innovation in the Canadian province of British Columbia, where they discussed orientations to promote trade and investment cooperation.

By VNA

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