HCM City (VNA) – Ho Chi Minh City attracted 574.71 million USD in foreign direct investment (FDI) in thefirst quarter of 2017, a year-on-year increase of 56.7 percent, according tothe municipal Department of Planning and Investment. 

The citygranted investment certificates to 141 projects with a total investment of 133million USD and 42 existing projects with a combined capital of over 89 millionUSD. Besides, it approved 401 foreign investors’ registration to contributecapital, purchase shares and buy back financial contributions from the city’sfirms to the tune of 352 million USD.

Malaysiatopped the city’s FDI sources with over 44 million USD (33.3 percent of thetotal), followed by Japan with 29 million USD (22 percent) and the Netherlandswith 16 million USD (12 percent). Information and communications sector was thetop sector, luring 51.77 million USD, or 38.7 percent, as much as 3.1 timesover the same period last year.

The municipalPlanning and Investment Department has launched an online investmentregistration system for foreign investors who want to contribute capital tofirms in the city. After five months of operation, the system received 432documents. The second phase of the programme will include other procedures.

Regardingdomestic investment, more than 7,900 new enterprises with a total registeredcapital of 99.4 trillion VND (4.3 billion USD) were licensed by the city, up 14and 61.7 percent respectively over corresponding figures last year.-VNA