Singapore was the biggest foreign investor in HCM City in terms of newly-registered projects and capital contribution for share purchases in the last five months, with 72 new projects worth $121.5 million.

According to the municipal Department of Statistics, Japan came second with  32 new projects totaling 16.5 million USD, making up 8.3% of the total.

In the January-May period, the southern economic hub saw 374 new projects with a combined capital of 199.8 million USD. Meanwhile, 403.3 million USD were added to 121 existing ones.

As many as 836 foreign investors poured 541.1 million USD into capital contribution and share purchase deals in the first five months, up 9.3% compared to the same period last year. Singapore and Cayman Islands had the highest proportion of capital contribution in the reviewed period, accounting for 53.6% and 11.5%, respectively.

In the first five months, HCM City saw 18,630 newly-established enterprises, up 7.8 year on year, with a total registered capital of 178.78 trillion VND (over 7.6 billion USD), down 21.2%.

From January 1, 1988, to May 20, 2023, HCM City recorded 11,734 valid foreign-invested projects with a total value of over 56.71 billion USD.

At the same time, 81.04 billion USD was added to operating ones and invested in capital contribution and share purchase deals.

VNA