Ho Chi Minh City has drawn 497.5 million USD of foreign direct investment (FDI) in the first three months of this year, up 22.4% year on year, according to the city’s Statistics Office.
HCM City(VNA) – Ho Chi Minh City has drawn 497.5 million USD of foreign directinvestment (FDI) in the first three months of this year, up 22.4% year on year,according to the city’s Statistics Office.
The office reportedthat in the first quarter of this year, the city issued new investment licencesto 216 projects worth 133.2 million USD, a rise of 30% over the same periodlast year, mostly in construction sector (53.7 million USD).
Singapore remained theleading investor in the city with 47 projects with a total capital of 86.7million USD, accounting for 65.4% of the total FDI the cityattracted in the period.
Hong Kong (China) camesecond with 15 projects worth 9.5 million USD, accounting for 7.1%, and Japanwith 19 projects worth 9.0 million USD.
At the same time,investors also injected additional 87.1 million USD into 37 underway projects. Ofthe total, 35.5 million USD, or 40.8%, came from the Republic of Korea.
Meanwhile, 468 sharepurchase deals involving foreign investors were conducted with a total value of277.3 million USD, down 5.9% year on year.
According to the ForeignInvestment Agency under the Ministry of Planning and Investment, in the firstquarter of this year, HCM City continued to lead localities nationwide in FDIattraction, showing the attractiveness of the local business environment amidthe instability in the world economy.
To date, the city hashosted 11,598 valid FDI projects worth over 56.4 billion USD, the highestnumbers among localities nationwide./.
Although Vietnam always eyes to attract investors from US and Europe, intra-Asian investors are so important to the country, especially since foreign direct investment (FDI) is slowing down globally due to the COVID-19 pandemic’s impacts and geopolitical conflicts.
The northern port city of Hai Phong continued ranking among the top localities in attracting foreign direct investment (FDI) in the first quarter of 2023.
Leaders and people of Ho Chi Minh City always value promoting cooperation with Cuba in various areas, Chairman of the municipal People’s Committee Phan Van Mai told visiting Cuban Minister of Construction Rene Antonio Mesa Villafana during a local reception on March 29.
Foreign small- and medium-sized enterprises (SMEs) are paying much attention to Vietnam, given the fact that the number of under-1-million USD projects accounted for nearly 70% of the total number of foreign-invested projects registered in Vietnam in the first three months of this year.
A flight to quality will remain a key theme in the HCM City office market in 2023 as both foreign and domestic companies are setting ambitious net-zero targets to comply with environmental, social and corporate governance (ESG) regulations, experts said.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
A view of HCM City (Photo: VNA) 
