AloTrip

Where do you travel?

trustpilot

HCM City attracts most FDI in Vietnam in first 10 months

Wed, 29 Oct 2014. Last updated Fri, 08 May 2015 13:49

Related stories

By October 2014, HCM City approved investment certificates for many foreign investors in Vietnam. And, Ho Chi Minh becomes the leading city appealing most FDI in Vietnam.

At a meeting on economy and society in October, the Chairman of Ho Chi Minh City, Mr. Le Hoang Quan confirmed that as of Oct 27, Ho Chi Minh City is leading province in the country on appealing FDI in Vietnam, with the total capital of US $2.9 billion. In October alone, the total capital of FDI in Ho Chi Minh City reached over US $2.9 billion, increasing 97.7 % compared with the previous year. Thus, Ho Chi Minh City is the city attracting the most investment in Vietnam. These are positive economic - social results of the city reported at the conference in the morning of October 27. Speaking at the conference, Mr. Le Hong Quan, Chairman of Ho Chi Minh City People's Committee, said that as of October 20, 2014, there were 332 FDI projects approved by the People's Committee of Ho Chi Minh City with a total investment capital of 2.7 billion dollars. Particularly in October, the city People's Committee granted investment certificates "Samsung CE Complex" for Samsung Electronics Corporation with a total investment of 1.4 billion dollars. This project is the second largest investment in Saigon Hi-Tech Park. Previously, there was a project of over US $ 1 billion of Intel Corporation in 2006. In addition, there are 107 projects with a total capital raised over US $ 270 million. Thus, the total investment and registered capital raised in October reached US $ 2.9 billion, an increase of 97.6% over the same period.

Intel Corporation in SHTP

According to Mr. Le Hong Quan, the new investment projects are mainly focused on the field of industrial engineering and high technology. This is also the policy of the Ho Chi Minh City on attracting investment in high-tech engineering, training development, and human resources to meet the needs of industrial development towards industrialization and modernization, and to formalize existing targets of becoming an industrialized country by 2020 of Vietnam. As of October 20, 332 new FDI projects in HCM City were granted certificates of registration with the total investment of 2.7 billion dollars. Compared to the same period last year fell by 8.5% but the number of projects increased to nearly 215% of the registered capital. In addition, there are 107 projects with a total capital raised over US $ 270 million. Thus, the total investment and registered capital raised in October reached US $ 2.9 billion, an increase of 97.6% over the same period.

In terms of investment sectors, the industrial sector accounts investment capital most with 39 projects and investment capital of over US $ 1.64 billion, accounting for 61.6% of total new capital. In the second place, it is the real estate sector with 10 projects and investment capital of nearly US $ 588 million. In terms of investment partner, Singapore is the leading investor with 47 projects with total capital of over US $1.7 billion. Ranking after Singapore is British Virgin Islands with 7 projects and investment capital of nearly US $ 346 million. The third place is Japan with 71 projects and investment capital of nearly US $ 218 million. Notably, in October, the city awarded investment certificate for "Samsung CE Complex Project" with a total investment of US $ 1.4 billion of Samsung Electronics Corporation in Saigon High-Tech Park, accounting for 52.5% of the total registered capital of the new license. This project is the second largest investment in the Hi-Tech Park. Previously, there was a project of over US $ 1 billion of Intel Corporation in 2006.

Samsung Electronics gets license for 1.4 billion USD project

Directing the transfer of existing FDI projects in 14 industrial parks and export processing zones in HCM City, Chairman Le Hoang Quan requested relevant agencies, particularly the Board of Management in industrial parks and export processing zones in HCM City to consider and calculate to transform the existing industrial parks into high-tech industrial parks in Ho Chi Minh City. Current equipment and machinery in many businesses are largely outdated, which needs to change. Besides, it is necessary to study the mechanism of encouraging businesses to innovate equipment and modern machinery. Focusing on research and development of supporting industries, facilitating in the next few years to diversify import markets of raw materials, and replacing imported raw materials for production and business are necessary things to do. Currently, Ho Chi Minh City has established Kansai working group having function of supporting HCM City People's Committee in one-door consulting, receiving and returning the results to businesses in Japan's Kansai investment in the city. HCM City is a bridge between the Kansai area and businesses, local departments, and municipal People's Committee to address the requirements arising in the process of understanding and implementing projects of foreign investment in Vietnam.

  • View
    2651
  • Share
    0
  • Comment
    0
  • 0
  • 0
  • 0
Investment in Hanoi attracts more foreign capital
Investment in Hanoi attracts more foreign capital

After Vietnam joined WTO, investment projects come to Vietnam more and more. Hanoi is one of the leading localities participating in appealing foreign investment in Northern Vietnam. Investment in Hanoi has gained significant achievement.

Australia has 320 investment projects in Vietnam
Australia has 320 investment projects in Vietnam

Up until now, Australia has 320 direct investment projects in Vietnam that are valid for a total registered investment capital of more than $ 1.65 billion US dollar. These projects are mostly in South Central Coast of Vietnam.

World press sees positive Vietnam economy outlook
World press sees positive Vietnam economy outlook

In a Russian newspaper, among "Asian tigers", Vietnam is appealing a great attention when entering international integration and remaining stability during crisis period. Vietnam economy is accessed to attract more investors in years to come.

Mekong Delta receives $23 million of investment from Korea
Mekong Delta receives $23 million of investment from Korea

South Korea has recently confirmed its investment in Mekong Delta by supporting local farmers in with the total amount up to $23.5 million. This investment is mainly used for upgrading modern machineries and training human resource.

FDI in Vietnam boosts in manufacturing and processing industry
FDI in Vietnam boosts in manufacturing and processing industry

According to the Foreign Investment Agency and Ministry of Planning and Investment, until November 2014, FDI in Vietnam increases 9,407 valid projects with the total registered capital of 138.5 billion dollars processing and manufacturing industry.

More FDI for Vietnam from US
More FDI for Vietnam from US

Vietnam is on the line of becoming a new tiger in Asian economy. With the support from other countries, especially US, in the future, the wish of Vietnam will come true. At present, apart from invesments from Korea, FDI for Vietnam from US is increased.

Vietnam and Russia hold conference of investment promotion
Vietnam and Russia hold conference of investment promotion

On May 20th, the conference of investment and commerce promotion between Vietnam and Russia was held in Ho Chi Minh City with the theme of “Hanoi – Moscow Center for Culture, Trade and Hotel: the commercial bridge between Vietnam and Russia.

Japan increases investment in finance and service in Vietnam
Japan increases investment in finance and service in Vietnam

In the downtrend of FDI in Vietnam, Japanese enterprises tend to pay more attention in the fields of retail, technology transfer, banking, finance and service in Vietnam instead of the manufacturing sector as before.

FDI in Ho Chi Minh continues sharply increases
FDI in Ho Chi Minh continues sharply increases

The significant increase of FDI in Ho Chi Minh in the early months 2014 has demonstrated the safe and attractive investment environment not only in Ho Chi Minh City but also in Vietnam.

Electronic industry in Vietnam attracts foreign investors
Electronic industry in Vietnam attracts foreign investors

According to Mr. Adam See, the Chairman of AIES (the Association of Electronic Industries in Singapore), the development of Electronic industry in Vietnam will be a phenomenon in the next years.

66 percent Japanese enterprises will expand business in Vietnam
66 percent Japanese enterprises will expand business in Vietnam

According to the survey on production and business activities of Japanese enterprises in Vietnam carried by Japan External Trade Organization (JETRO), approximately 66% Japanese enterprises still tends to expand business in Vietnam.

Vietnam economy predicted to increase 5.6 percent
Vietnam economy predicted to increase 5.6 percent

Recently, according to Ms. Victoria Kwakwa, National Director of World Bank in Vietnam, Vietnam economy is showing its good signals in its development. The growth rate of the country is predicted to increase up to 5.6% this year.

Vietnam investment environment - the best in SE Asia
Vietnam investment environment - the best in SE Asia

Vietnam investment environment is increasingly appealing more foreign investors, as advantages of cheap labor cost and attractive incentive policies. Many world leading investors pouring huge capitals in Vietnam are Samsung, Nokia, and Intel, etc.

Vietnam - Korea Free Trade Agreement signed
Vietnam - Korea Free Trade Agreement signed

The Vietnam - Korea Free Trade Agreement has been signed successfully between representatives of Vientam and South Korea on May 5. The agreement has a significant meaning in the development of Vietnam economy and society in the region.

Vietnam enterprises promoting trade in France
Vietnam enterprises promoting trade in France

On June 23rd, a delegation of representatives of Vietnam enterprises has a meeting with French counterparts to introduce and promote Vietnam market as well as to seek for business opportunities in France.

International Day of Happiness organized nationwide
International Day of Happiness organized nationwide

International Day of Happiness on March 20 will be held countrywide for the first time by Ministry of Culture, Sports and Tourism in collaboration with a number of branches based on the scheme approved by the Prime Minister.

Over 1000 years old French church built on a volcano
Over 1000 years old French church built on a volcano

The French church, Saint-Michel d'Aiguilhe is a chapel in Aiguilhe, near Le Puy-en-Velay, France. The chapel is reached by 268 steps carved into the rock. It was built in 969 on a volcanic plug 85 metres high.

AgroViet 2014 attracts over 400 booths
AgroViet 2014 attracts over 400 booths

International Agriculture Expo 14th, aka AgroViet 2014 was kicked off on November 14 with the participation of many Vietnamese businesses. The expo is one of the most important event of Vietnam agriculture held annually to promulgate Vietnam products.

Times City Hanoi selling apartments of 1.9 billion VND
Times City Hanoi selling apartments of 1.9 billion VND

Vingroup begins selling apartments of 1.9 billion VND in luxury urban area Times City Hanoi since May 23rd. Times City is fully equipped with large-scale utilities according to international standards.

The conclusions of Vietnam - Korea Free Trade Agreement
The conclusions of Vietnam - Korea Free Trade Agreement

In the afternoon of December 10th, representatives of Vietnam Government and Korean Government signed the Memorandum of Agreement (MOA) to conclude negotiations of Vietnam - Korea Free Trade Agreement.

Landmark 81 – the highest building in Vietnam
Landmark 81 – the highest building in Vietnam

On December 13th, an 81-storey skyscraper named The Landmark 81, which belongs to luxury urban area Vinhomes Central Park was started construction by Vingroup. It is expected that this highest building in Vietnam will be inaugurated in 2017.

Starbucks Vietnam opens three stores in Hanoi
Starbucks Vietnam opens three stores in Hanoi

Starbucks will open its three coffee shops in Hanoi in the effort to conquer the demanding palates of residents in this city. According to a representative of Starbucks Vietnam, the first three stores will be opened in prime locations of Hanoi.

Ho Chi Minh City opens 2nd McDonalds restaurant
Ho Chi Minh City opens 2nd McDonalds restaurant

After the success of the first restaurant on Dien Bien Phu Street, District 1, McDonalds Ho Chi Minh City will open the second on May 16th. The new restaurant is located near Ben Thanh Market, on Tran Hung Dao Street.

Da Nang becoming the most worth-living city in Vietnam
Da Nang becoming the most worth-living city in Vietnam

39 years after the Vietnam Liberation Day, Da Nang has developed significantly in all aspects. More importantly, Da Nang City has leave impression on tourists and residents as the most worth-living city in Vietnam.

Vietnam economy forecasted to grow in 2014
Vietnam economy forecasted to grow in 2014

As global economy is having positive changes, Vietnam economy will be definitely boosted. It is expected to increase 5.6 percent in this 2014 thanks to the recovery of the United States and Eurozone in banking reforms.

Vietnamese middle class increases most rapidly in Asia
Vietnamese middle class increases most rapidly in Asia

According to a recent survey conducted by ANZ, it is reported that Vietnamese middle class increases most rapidly in Asia, about 2 million Vietnamese joining the middle-class of Vietnamese society every year.

Asia Park Da Nang begins forthcoming operations
Asia Park Da Nang begins forthcoming operations

Sun Group Corporation recently has celebrated groundbreaking ceremony to construct Asia Park Da Nang cultural park and recreation on 2/9 street with a total investment of $ 200 million.

Thu Thiem new urban area of Ho Chi Minh City in future
Thu Thiem new urban area of Ho Chi Minh City in future

Ho Chi Minh City decided to expand center area including the whole Thu Thiem new urban area. There are accordingly some changes in Ho Chi Minh districts as well as the city urban area.

Ho Chi Minh Vincom Center will open Kids World
Ho Chi Minh Vincom Center will open Kids World

The second Kids World will be opened on Dong Khoi Street by Ho Chi Minh Vincom Center, on April 25th. With a scale of more than 5000 square meters, Kids World is expected to be the paradise for children.

Attractive activities for Children Day in Hanoi
Attractive activities for Children Day in Hanoi

June 1st has been chosen as the International Children’s Day since 1950. On this occasion annually, a large number of attractive activities for Children Day in Hanoi will be celebrated in several attractions and amusement parks across the city.