BVI Keeps its Place in the Top List of Foreign Investors in HCM City

Ho Chi Minh City officials have reported on a four-fold increase in foreign direct investments in the city's economy. This year HCM City has so far licensed 215 foreign invested projects valued at US$1.37 billion. These figures include 163 wholly foreign-invested projects, with a combined investment capital of about US$768 million, 49 joint-venture projects with US$589 million, and three co-operative contracts that are worth over US$14 million.

The results confirmed strong positions of the British Virgin Islands, which were among the first five foreign investors' countries in Ho Chi Minh City during the first seven months of the year 2006. In accordance to the seven month results, the British Virgin Islands invested into the 7 projects, with US$36,5 million. Currently, being the investor of 10 projects, BVI rank between Taiwan, with 16 projects, and Hong Kong with 4.

First places in the list of foreign investors are occupied by the closest neighbours of Vietnam - the Republic of Korea, with 51 projects valued at US$102,7 million, and Japan with 37 projects.

The largest amount of projects is in the industrial sector, followed by the sector of real estate development and consultation services. Other sectors that gained popularity among the investors are the construction sector and the transport sector.

Ho Chi Minh City also licensed 102 operating foreign-invested projects to increase investment capital; so far the total new and added investment in the city this year has reached over US$2 billion, 3,4 times over the corresponding period last year.

Now there are 2,014 foreign invested projects operating in the city with a combined investment of nearly US$13.9 billion, increases of 230 projects and US$1.87 billion against 2005.