International investment flocks to Ho Chi Minh City despite pandemic

08 March, 2021
International investment flocks to Ho Chi Minh City despite pandemic
Vietnam’s southern organization hub of Ho Chi Minh City recorded $337.8 million of foreign investment through the first 8 weeks of 2021, with property attracting almost all of the funds, namely $145.1 million or 43 % of the total.

It was followed by investments into research and technology ($57.5 million, 17 per cent) and the digesting and manufacturing industry ($41 million, 12.1 per cent), Vietnam News Firm reported, discussing the country’s department of planning and expenditure.

Overall, the number of foreign direct expenditure stood at 70.3 % of the figure in the same period last year, the state-run firm said.

As the Covid-19 pandemic didn't deter investors from pushing funds into existing jobs, the city attracted only three new foreign investment projects worth $115 million in January and February, due to the wait-and-see approach of new investors in the united states amid the coronavirus crisis.

Up to 99.7 per cent of the brand new capital was funneled into property, with 29.6 % from Singapore and 70.1 % from the Netherlands.

Overall, from January 1 to February 20, the registered capital of 22 existing foreign-funded companies found in Ho Chi Minh City grew simply by $53.3 million.

Foreign investors also spent $169.5 million on capital contributions to or share obtain in local firms at that time, illustrating the upbeat sentiment about Vietnam’s monetary development once the pandemic subsides.
Source:
TAG(s):
Search - Nextnews24.com
Share On:
Nextnews24 - Archive