According to a report from the Ho Chi Minh City Department of Planning and Investment, as of January 20th, 2023, there were 50 newly granted foreign investment projects with a total registered capital of over $86.86 million.

There were also 20 projects licensed in previous years that adjusted their investment capital, with an additional capital of nearly $37.51 million.

Illustration (Source: Internet)

In addition, there were 139 cases of foreign investors completing procedures to contribute capital, purchase shares, or purchase capital contributions of domestic enterprises, with a registered capital contribution equivalent to $54.68 million.

Thus, in the first month of 2023 (up to January 20th), the total foreign investment capital, including new grants, increased investment capital, and capital contributions, share purchases, and acquisitions, reached over $179.04 million, equivalent to 173.78% of total foreign investment capital compared to the same period in 2022.

Of the newly granted projects, 44 were 100% foreign-funded, and 6 were joint ventures.

The investment of Singapore in Vietnam from 2019 until now (Source: VnExpress)

Singapore continued to lead the list of countries and territories with investment projects in Ho Chi Minh City, with 12 projects (24%), and an investment capital value of nearly $77 million (88.34%); Taiwan ranked second with 3 projects (6%) and an investment capital of over $3.2 million (3.72%); Hong Kong had 3 projects with an investment capital of over $2.2 million (2.56%)...

It is worth noting that the FDI capital flow has shifted towards decreasing the proportion of investment capital in real estate business, and increasing the proportion in professional, scientific, and technological activities; processing and manufacturing industries...

Regarding the contribution of FDI to Ho Chi Minh City's economy, in 2022, foreign direct investment capital accounted for over 13% of the total social investment capital; FDI regional budget revenue reached VND 78.112 trillion (US$3.4 billion), accounting for 17.07%, and import-export turnover was estimated to reach over $25 billion, accounting for 61% of the city's import-export turnover.

Mr. Pham Tuan Anh, Deputy Head of the Foreign Economic Department of the Ho Chi Minh City Department of Planning and Investment, stated that in 2023, the general situation may still be difficult, so it is unlikely that Ho Chi Minh City's FDI attraction will have a significant breakthrough compared to 2022.

However, if the economic and social situation becomes more stable, and inflation continues to be controlled, the FDI capital attracted by Ho Chi Minh City is expected to increase.

Source: Government News