HCM City works on facilitating foreign capital influx
Ho Chi Minh City authorities have freshly assigned tasks of stimulating foreign investment attraction, with the municipal Department of Information and Communications asked to suggest measures drawing tech firms into local software and semiconductors sectors.
In 2023, the metropolis posted nearly 5.9 billion USD worth of foreign direct investment, up nearly 50% year-on-year. (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City authoritieshave freshly assigned tasks of stimulating foreign investment attraction, withthe municipal Department of Information and Communications asked to suggestmeasures drawing tech firms into local software and semiconductors sectors.
The Department of Planning and Investment, meanwhile, istasked with joining the implementation of steps to attract direct foreign capitaland making recommendations of selective criteria for foreign-funded projects inthe southern economic hub.
The Department of Industry and Trade is set to proposepolicies assisting the development of potential supporting industries, whilethe Department of Natural Resources and Environment comes up with ways totackle shortcomings for effective use of land sources.
Human resources preparations, tax policy recommendations, tradepromotion, and business climate improvement are also among the key tasks assignedto relevant departments, agencies, and units.
In 2023, the metropolis posted nearly 5.9 billion USD worthof foreign direct investment, up nearly 50% year-on-year./.
Money sent from Asian countries made up 50% of the total overseas remittances to Ho Chi Minh City last year, Vietnam’s largest economic hub, a massive 144% spike year-on-year.
The People’s Committee of Ho Chi Minh City has issued a plan to implement policies supporting innovative startup projects in the city in the 2024-2028 period, which is expected to benefit nearly 2,000 projects.
Ho Chi Minh City's Saigon Hi-Tech Park (SHTP) and Siemens Electronic Design Automation (Siemens EDA), a segment of Siemens Digital Industries Software, on February 27 signed a memorandum of understanding (MoU) on cooperation in personnel training in the semiconductor chip industry in Vietnam.
Ho Chi Minh City's tourism industry has recorded positive signs as many international travelers have chosen the metropolis as part of their journeys in early 2024.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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
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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.
In 2023, the metropolis posted nearly 5.9 billion USD worth of foreign direct investment, up nearly 50% year-on-year. (Photo: VNA) 
