Vietnam Real Estate News

Foreign Investment Tumbles In HCMC   2009-11-03 - Vietnews

 Foreign investment in Ho Chi Minh City over the first ten months fell to $1.1 billion, a three-year low and down from last year’s $8.2 billion, according to the city’s Department of Planning and Investment.
There was no cash pumped into Thu Thiem and northwest Cu Chi, two new urban areas which had drawn serious investments in recent years.

Saigon Hi-tech Park brought in only three projects. Three export processing zones and 10 other industrial parks in the city combined to tack on a modest 13 projects.

It was more of the same story outside of the zones. Only 262 licenses were granted at a combined value of over $325 million - mainly in retail, import-export services and real estate investment.

According to HCMC’s Department of Planning and Investment, foreign investment to Vietnam has been bleak since last year.

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