Ho Chi Minh City absorbs 3.94 billion USD in FDI in 2022

Ho Chi Minh City absorbed about 3.94 billion USD in foreign direct investment (FDI) in 2022, up 5.4% year-on-year, according to the municipal People’s Committee.
Ho Chi Minh City attracts 3.94 billion USD in FDI in 2022
Illustrative image. (Photo: VNA)

The city's authorities granted new investment certificates to 893 projects in 2022 with total registered capital of 601.1 million USD, marking a decline of 12.5% compared to last year. Of the projects, 338 were invested in wholesale, retail, and repair of automobiles and motorbikes with registered capital of 176.9 million USD, accounting for 29.4% of the newly registered capital.

They were followed by the field of information and communication with 186 projects that posted registered capital of 139.3 million USD, accounting for 23.2%. There were 231 projects in specialised areas, science, and technology with registered capital of 107.5 million USD, accounting for 17.9%.

Among nations and territories pouring capital into the city this year, Singapore ranked first with 167 projects with total registered capital of 235.4 million USD, accounting for 39.2% of the newly registered capital.

It was followed by Japan with 86 projects and registered capital of 97.2 million USD, accounting for 16.2%, the Republic of Korea (RoK) with 122 projects and registered capital of 60.3 million USD, accounting for 10%.

Regarding the adjustment of registered capital, there were 192 projects with increased capital of 1.6 billion USD, up 42.4% over the previous year.

Singapore was the country with the highest adjusted capital in 2022 – over 1.18 billion USD, accounting for 73.7% of the adjusted registered capital.

A total of 2,411 investors made capital contributions, share purchase, and redemption of contributed capital. Their capital contributions reached nearly 1.74 billion USD, down 9.8% from last year. Singapore and the RoK saw high proportions of capital contribution, accounting for 47.5% and 16.9% respectively.

With the new projects in 2022, the total number of valid projects in the city until December 20, 2022, amounted to 11,273 projects with registered capital of 55.84 billion USD. Thereby, Ho Chi Minh City continues to lead the country in the number of valid projects.

To achieve those results, the city's authorities organised investment promotion activities in and outside the country to attract foreign investors to its key industries and key projects. The city also met with, asked for advice, and talk with investors.

The city organised 127 domestic and foreign trade and investment promotion activities, supported businesses to recover, develop markets, and connect businesses to businesses through fairs and exhibitions or programmes that connect businesses with retail groups and distribution systems.

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(Source: VNA)