Saigon (Ho Chi Minh City) has licensed foreign investors invested 6 billion U.S. dollars into the city through mergers and acquisitions (M&A) deals in 2018, the municipal authorities said on Tuesday.
Since 1988, foreign investors have been licensed to pump over 10 billion U.S. dollars into Ho Chi Minh City via M&A deals, accounting for 22 percent of total foreign direct investment in the city.
The city currently has 8,112 foreign-invested projects with total registered capital of nearly 45 billion U.S. dollars, said the municipal Department of Planning and Development.
In January, the country licensed 226 foreign-invested projects with total registered capital of 805 million U.S. dollars from over 20 countries and regions, posting respective year-on-year rises of 36.1 percent and 81.9 percent, according to the country’s Foreign Investment Agency.
Ho Chi Minh City is the most populous city in Vietnam with a population of 8.4 million (13 million in the metropolitan area) as of 2017. Located in southeast Vietnam, the metropolis surrounds the Saigon River and covers about 2,061 square km (796 square miles). Ho Chi Minh City is the financial centre of Vietnam and is classified as a Beta+ World City by Globalization and World Cities Research Network. It is home to the Ho Chi Minh City Stock Exchange, the largest stock exchange by total market capitalization in Vietnam and the headquarters of many national and international banks and companies.
Saigon of Vietnam chosen as the most alluring investment destination in Asia | Image source: gbs.com.vn
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