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Inflow into Saigon shoot up to US$3.23 billion in foreign direct investment (FDI)

HCM City has attracted US$3.23 billion in foreign direct investment (FDI) in the first eight months of 2017, reported the municipal Department of Planning and Investment.

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HCM City has attracted US$3.23 billion in foreign direct investment (FDI) in the first eight months of 2017, reported the municipal Department of Planning and Investment.

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This is 1.57 times higher than the figure in the same period last year.

One of the biggest FDI projects currently in HCM City is the Saigon Silicon City Project, a research and development project and home to many of the world’s biggest high-tech corporations and technology start-up companies.

The Saigon Silicon City Park Joint Stock Company has invested in the project and has signed a memorandum of co-operation with the US’ World Trade Centre Utah to implement the project.

Spread over an area of 52ha in the Saigon Hi-Tech Park (SHTP) with a total investment of about $40 million, the project is expected to become a smart urban area with ready-to-use infrastructure and facility, attracting foreign enterprises.

Meanwhile, the Republic of Korea’s CJ Cầu Tre Foods Joint Stock Company was licensed to invest in a $53.3 million project in Hiệp Phước Industrial Park.

This is a food processing complex spanning an area of 7.1ha, including a food processing factory, a research and development centre and a modern food safety centre.

To attract more FDI in the remaining months of 2017, HCM City is deploying measures to develop four key industries, namely manufacturing engineering, electronics, chemical-rubber-plastics industry, and food processing. — VNS

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