Foreign firms eye services industry in HCM City
21/08/2007 -- 10:27 PM
HCM City (VNA) - Ho Chi Minh City has so far this year granted licences for 257 foreign-invested projects with a combined investment of 830.7 million USD. However 132 of the new businesses centre on the services and entertainment industry.The newly-licensed projects have shown a shift in investment interest by foreign investors from industry manufacturing to services, said one economist.
Real estate development and consultation services drew 118 FDI projects with a combined investment of 521.5 million USD, transportation 11 projects with an investment of 2.1 million USD, culture and sports 3 projects at 47.3 million USD, industrial services had 85 projects start up at a cost of 224.8 million USD and construction brought new 30 projects to the city to the tune on 31.2 million USD.
Foreign investors making their mark in the nation’s largest economic hub from the Republic of Korea which ranks first with 88 projects capitalised at 472.7 million USD, followed by Japan with 30 projects capitalised at 14.5 million USD, Taiwan with 23 projects and 27.7 million USD, and Singapore with 21 projects and 176.4 million USD.
British Virgin Islands registered firms poured 110.6 milion USD into 14 projects and the US invested 7.6 million USD in 13 projects.
HCM City now boasts 2,416 valid foreign invested projects capitalised at almost 15.5 billion USD.--Enditem
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