HCM City in the midst of a business gold rush
22/08/2007 -- 6:25 PM
Ha Noi (VNA) – Viet Nam's largest city is a boomtown, with giddy investors being swept up in a whirlwind of confidence in the southern hub's business climate.Highlighting the economic bonanza was a recently released report by the municipitality's Department of Planning and Investment that found that close to 11,000 non-State businesses with a combined registered capital of 83 trillion VND (nearly 5.19 billion USD) were licensed within the first eight months of this year.
Of the newly established businesses, 1,710 were joint stock companies that accounted for up to 77.3 percent of total registered capital. August alone saw 1,737 new businesses whose registered capital exceeded 11.7 trillion VND (732 million USD), the largest number and capital investment in the city's over 300 year-old history.
HCMC is now home to 110,000 businesses, up from just 4,600 seven years ago, with a total registered capital of 415.2 trillion VND (26 billion USD).-Enditem
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