178 million USD invested into Ho Chi Minh City

Chairman of the HCM City People's Committee Le Hoang Quan (third from left) presents investment licences to the firms (Photo: VNA)

The southern metropolis Ho Chi Minh City has granted investment licences to a firm from the UK and a firm from the Republic of Korea (RoK) for an expected investment of 178 million USD.

An affiliate of the UK’s Gain Lucky Corporation, the Worldon Vietnam in Cu Chi district specialises in designing and manufacturing hi-end apparel and will increase its capital in the country to 300 million USD from 140 million USD.

Meanwhile, the apparel producer Nobland Vietnam under the RoK’s Nobland International Inc, registers a capital hike from 43 million USD to 61 million USD, which will be used to scale up its operation and generate jobs for over 8,000 workers.

Addressing the approval ceremony on January 14, Deputy Chairman of the municipal People’s Committee Tat Thang Cang vowed full support for investors by streamlining bureaucracy, fine-tuning legal regulations, and upgrading infrastructure.

Last year, the city drew 3.2 billion USD in both new and increasing capital investments, with processing and industrial zones hosting 523 foreign projects worth nearly 5 billion USD.

VNA