Ho Chi Minh City attracted 2.77 billion USD in foreign investment in the first five months of this year, with 46.7 percent of the capital poured into real estate.

Ho Chi Minh City attracted 2.77 billion USD in foreign investment
n the first five months of 2019 (Photo: VNA)

The figure was reported by Director of the city’s Department of Planning and Investment Le Thi Huynh Mai at a conference of the municipal People’s Committee on June 4 to review socio-economic performance in the January-May period. 

Mai also reported that 16,664 domestic firms were licensed in the period with total registered capital of over 265.6 trillion VND (11.33 billion USD), with 36.7 percent of the new firms operating in the real estate sector. 

Total revenues from retails and services in the five-month period amounted to 463.5 trillion VND, up 12.3 percent year on year. 

Budget collection totaled 165.2 trillion VND, accounting for 41.39 percent of estimates. 

Chairman of the municipal People’s Committee Nguyen Thanh Phong urged local officials to accelerate the processing of investment projects’ procedures for the projects to be deployed in schedule.

The conference discussed the pace of several major projects in the city, including the upgrade of Xuyen Tam canal, the flood control project invested by Trung Nam group, and the selection of investors for waste-to-energy project.