FDI in­flows into HCM City shoots up

The Myanmar Times - - International Business -

HCM City has at­tracted US$3.23 bil­lion in for­eign di­rect in­vest­ment (FDI) in the first eight months of 2017, re­ported the mu­nic­i­pal Depart­ment of Plan­ning and In­vest­ment.

This is 1.57 times higher than the fig­ure in the same pe­riod last year.

One of the big­gest FDI projects cur­rently in HCM City is the Saigon Sil­i­con City Project, a re­search and de­vel­op­ment project and home to many of the world’s big­gest high-tech cor­po­ra­tions and technology start-up com­pa­nies.

The Saigon Sil­i­con City Park Joint Stock Com­pany has in­vested in the project and has signed a mem­o­ran­dum of co-op­er­a­tion with the US’ World Trade Cen­tre Utah to im­ple­ment the project.

Spread over an area of 52ha in the Saigon Hi-Tech Park (SHTP) with a to­tal in­vest­ment of about $40 mil­lion, the project is ex­pected to be­come a smart ur­ban area with ready-to-use in­fra­struc­ture and fa­cil­ity, at­tract­ing for­eign en­ter­prises.

Mean­while, the Repub­lic of Korea’s CJ Cҫu Tre Foods Joint Stock Com­pany was li­censed to in­vest in a $53.3 mil­lion project in HiӋp Phѭӟc In­dus­trial Park.

This is a food pro­cess­ing com­plex span­ning an area of 7.1ha, in­clud­ing a food pro­cess­ing fac­tory, a re­search and de­vel­op­ment cen­tre and a mod­ern food safety cen­tre.

To at­tract more FDI in the re­main­ing months of 2017, HCM City is de­ploy­ing mea­sures to de­velop four key in­dus­tries, namely man­u­fac­tur­ing en­gi­neer­ing, elec­tron­ics, chem­i­cal­rub­ber-plas­tics in­dus­try, and food pro­cess­ing. – Viet­nam News

Photo: Viet­nam News

Ho Chi Minh City has been a hotspot for FDI lately.

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