HCM City tops nation in FDI attraction in first eight months
Ho Chi Minh City topped the country in foreign direct investment (FDI) attraction in the first eight months of 2022, accounting for 16.1% of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
HCM City (VNA) – Ho Chi Minh City topped the country in foreign direct investment (FDI) attraction in the first eight months of 2022, accounting for 16.1% of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
It lured some 2.71 billion USD worth of FDI in January-August, an increase of 24.4% against the same period last year.
About 309.4 million USD were channeled into 479 newly-registered FDI projects, up 17.6% and 24.1% year-on-year, respectively, during the period. Ninety-six existing projects received extra investment worth 1.47 billion USD, up 127.3% year-on-year.
Meanwhile, capital contributions and share purchases were down 19.7% 𓄧to 925.68 million USD.
A corner of Ho Chi Minh City (Photo: VNA)
The largest sum of FDI, or 39.91% of the total, was poured into information and communications. It was followed by wholesale-retail, auto and motor maintenance and repair (30.59%), science and technology (9.85%), and finance, banking and insurance (7.14%).
Singapore remained HCM City’s biggest investor, making up 37.68% of the total capital, followed by Japan (17.19%) and the Republic of Korea (13.45%).
According to the municipal People’s Committee, RoK-based Lotte Properties HCMC will begin construction of Thu Thiem Eco Smart City in Thu Thiem New Urban Area. The 5.5-ha project has a total investmen☂t of 12 trillion VND (512.38 million USD)./.
A series of cultural, sports and art programmes will be held in Ho Chi Minh City to celebrate the 77th anniversary of August Revolution (August 19) and National Day (September 2).
Ho Chi Minh City’s Department of Transport has proposed that the municipal People's Committee use electric vehicles for its bus rapid transit (BRT) system to emit less noise and reduce air pollution.
Ho Chi Minh City is seeking approval for an additional 120 trillion VND (5.13 billion USD) of public investment from the central government and the disbursement of previously approved public investment in order to speed up the progress of major public projects, said a municipal official.
Ho Chi Minh City is coordinating with the World Bank (WB) to develop a data management strategy, aiming to help the city better cultivate data for governance works, said Vo Thi Trung Trinh, Deputy Director of the municipal Department of Information and Communications on August 30.
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.
Illustrative image (Photo: VNA) 
A corner of Ho Chi Minh City (Photo: VNA) 
