HCM City reports 55.5 % drop in FDI in 2016
Foreign direct investment in Ho Chi Minh City has plummeted this year and there are no large projects on the cards.
The city statistics department said US$225.4 million worth FDI has been registered as of mid-February, down 55.5% year-on-year.
Nearly US$152 million of it will be in new projects, mostly in manufacturing, processing and trading.
Sources from the Department of Investment and Planning and industrial zone management said they have so far not licensed any large-scale projects.
The number of local companies incorporated this year has also fallen by 11% to 3,400.
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