The Saigon Hi-tech Park in HCM City’s District 9. The city saw a 16.52 per cent drop in foreign investment in the first five months from the same period last year. — Photo vneconomy.vn

HCM CITY — HCM City received US$1.34 billion worth of FDI  in the first five months of this year, a 16.52 per cent decline year-on-year.

Of this $378.8 million went into 187 new projects, more than 52 per cent higher in terms of value despite a sharp fall in the number of projects, nearly all of it invested in trade and real estate areas.

Some $416 million was invested in 42 existing projects in manufacturing, technology and trade, triple the amount from last year.

The remaining $542.7 million went into mergers and acquisitions, a 56 per cent fall.

HCM City ranked second after Long An Province in terms of FDI, accounting for 9.6 per cent of total FDI. — VNS