FDI flow slows down in southern hub
Of the newly licensed projects, four projects poured 35.5 million USD in industry and nine others invested 4.3 million USD in construction.
The trade sector attracted 14 projects capitalised at 41.1 million USD while the real estate business and consulting service sector saw 401.3 million USD pouring in 32 projects, including one 294 million USD project in residential area construction.
Investors from the Republic of Korea pumped a total of 100.8 million USD in 14 projects, while Singaporean businesses put 32.5 million USD in 13 projects. The British Virgin Island invested in two projects capitalised at 301.6 million USD.
Nineteen FDI projects were allowed to add 18.6 million USD in capital in the first quarter this year.
As a result, the city has 3,239 valid FDI projects with a total registered capital of 26.38 billion USD.
Also so far this year, HCM City has granted operation licences to 4,304 non-State businesses with a total registered capital of over 15 trillion VND. They include 284 private businesses, 557 joint stocks companies and more than 3,460 limited liability companies.
Comparing with the same period last year, the number of new enterprises surged by 54.4 percent but the total capital slid down by 45.6 percent.
Meanwhile, 93 foreign direct investment (FDI) projects were licensed nationwide in the first three months with a total registered capital of US$2.2 billion, according to the Ministry of Planning and Investment.
These figures equal to 48% and 44% in terms of the number of projects and the total capital compared to the same period last year.
34 projects were licensed to increase capital with the total supplemented capital of US$3.844 billion, equal to 61% in terms of the number of projects and 43% increase in terms of the total capital in comparison with the same period last year.
Foreign direct investment including the newly-registered and supplemented capital in the first quarter of 2009 hit more than US$6 billion, equal to 60% of the figure for the same quarter in 2008.
