HCM City expects new wave of US investment via TPP
Ho Chi Minh City are working to catch a new wave of investment from the United States as the Trans-Pacific Partnership (TPP) was sealed early this year.
The Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City. (Photo: VNA)
Hanoi (VNA) – Ho Chi Minh City are w��orking to catch a nꦰew wave of investment from the United States as the Trans-Pacific Partnership (TPP) was sealed early this year.
Statistics by the municipal Department of Planning and Investment show that the city lured 26 foreign direct investment (FDI) projects, worth 135.4 million USD, from the US last year.
Bigger numbers are expected this year as Vietnam remains among three priority markets for future business expansion of US companies in ASEAN, according to the ASEAN Business Outlook Survey in 2016 by the US Chamber of Commerce (AmCham) in Singapore. About 31 percent of respondents region-wide indicated their plans to expand in the country.
The US pumped more than 630 million USD into 321 FDI projects in Ho Chi Minh City, making it the twelfth largest out of 74 countries and territories investing in the city.
US investment mainly focuses on projects in real estate, banking, services and technology.
A group of US investors, including Steelman Partners, Cantor Fitzgerald and Weidner Resorts Vietnam met with the city’s authority in early May to seek an investment permit for a 4-billion-USD complex of shopping and office buildings in the Thu Thiem New Urban Area.
They are among many others who are looking for investment opportunity in the southern economic hub.
To translate the potential into reality, the city has put effort into administrative reforms, particularly in terms of business registration.
Since May 19, it only takes a company four days to be granted a business registration certificate.-VNA
There is room for agricultural cooperation between Ho Chi Minh City and the United States, especially in high-tech agriculture, according to municipal Party Committee Secretary Dinh La Thang.
Foreign direct investment (FDI) capital poured into industrial zones (IZs) has rapidly increased recently, bringing large profits for infrastructure development companies.
Several US groups delivered their intention to develop a large-scale project in the Thu Thiem new urban area in Ho Chi Minh City during their meeting with the Chairman of the city People’s Committee.
The Government has approved a report on the Trans-Pacific Partnership (TPP) so as to submit the deal to the 14th National Assembly for ratification at its first session scheduled for this July.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City. (Photo: VNA)
