FDI attraction to Vietnam's HCM City hits over 2 bln $ in 2013

Foreign direct investment (FDI) inflows to Vietnam's southern economic hub Ho Chi Minh (HCM) City increased 52 percent in 2013, reaching over 2 billion U.S. dollars, reported the City's Department of Planning and Investment on its website on Tuesday. Of this, 1.05 billion dollars was invested in 477 new projects, an increase of 76.7 percent from the previous year, and another 305 million dollars went to 102 science and technology projects. Despite challenges facing the real estate sector, 147 million U. S. dollars was invested in 10 property projects. Meanwhile, 67 FDI projects, with a total registered capital of 436.7 million dollars, were relocated to other provinces and cities or shut down. There are 4,924 operational FDI projects in the city now, with a total registered capital of 33.5 billion dollars. Singapore accounted for the largest amount of investment in 2013, followed by Malaysia and South Korea. FDI attraction to Vietnam's HCM City hits over 2 bln USD in 2013