Both domestic and foreign investment in Ho Chi Minh City rose in the first four months, according to the city People’s Committee.

Unika Vietnam’s factory at the Tan Thuan Export Processing Zone in Ho Chi Minh City (Photo: SGGP)

Investment by domestic businesses was worth VND78.34 trillion (US$3.72 billion), 31 percent higher year-on-year.

While 7,622 companies were incorporated in the period with registered capital of VND42.55 trillion, 12,529 existing ones increased their capital by VND35.78 trillion.

Ninety eight foreign companies worth $701.4 million were licensed while 30 others increased their capital by $64 million. The total amount represented an increase of 120 percent over the same period last year.

Incentives are offered to foreign investors in high-tech industries and those with high value addition, the Ho Chi Minh City Export Processing and Industrial Zone Authority (Hepza) said.

They will aid with the construction of the Vietnam-Japan Techno Park in Hiep Phuoc Industrial Zone and assist Japanese investors seeking to learn about the park.

The Saigon Hi-Tech Park management said it would focus on attracting investors in supporting industries for chip manufacture.