HCM City attracts over US$330 million in foreign investment

In the past two months, Ho Chi Minh City has granted licences to 29 foreign investment projects (FDI) worth US$333.4 million and five other projects to expand operation, a four-fold year-on-year increase.

Le Thanh Phong, vice director of the City Department of Planning and Investment says that the figure is much lower than the set target of attracting US$8.4 billion in FDI capital in 2010. The city has encouraged businesses to invest in added value fields, such as machinery, automation, bio-technology, information technology, and new materials, he added.

Hi-tech parks, such as Quang Trung Software Park, and industrial processing zones have listed projects to call for foreign investment with attractive incentives.

The city has quickly implemented land compensation and clearance for key zones, such as North-East Urban Area, the Thu Thiem New Urban Area, and the Cang Hiep Phuoc Urban Area to attract more investors.

Tags: invest in HCM city, invest in Vietnam, Vietnam FDI, Vietnam FDI attraction, Vietnam investment

Posted by VBN on Mar 7 2010. Filed under Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry