HO CHI MINH CITY, Feb 19, 2019, NDO/VNA. As a popular investment channel for foreign investors in recent times, mergers and acquisitions (M&A) secured Ho Chi Minh City US$6 billion in foreign direct investment (FDI) projects in 2018, reported the Nhan Dan Online.
At a recent conference held in the southern largest economic hub, Vice Chairman of the municipal People’s Committee Le Thanh Liem said nearly 3,300 foreign investors were granted approval to register some US$6 billion in investment in the city through M&A deals.
To date, registered capital via M&A is reckoned at more than US$10 billion, 22% of total foreign investment poured into the city since 1988.
Last year, municipal authorities licensed 1,060 new projects valued at more than US$800 million and adjusted capital for 244 projects with increasing capital worth in excess of US$800 million. The city now has 8,112 foreign-invested projects with total registered capital of nearly US$45 billion.
FDI firms have made considerable contributions to the city’s development, especially in logistics and retail sales.