AsemconnectVietnam - According to the data from the Foreign Investment Department, under the Ministry of Planning and Investment, Ho Chi Minh City led the top of 10 localities attracting the most foreign investment (FDI) in 2023.

Specifically, by the end of 2023, Vietnam has attracted 39,140 foreign direct investment (FDI) projects, with a total registered capital of 468.917 billion USD. Among them, 10 top localities in attracting FDI include: Ho Chi Minh City, Hanoi, Binh Duong, Dong Nai, Ba Ria - Vung Tau, Hai Phong, Bac Ninh, Thanh Hoa, Long An and Quang Ninh.
Ho Chi Minh City was leading the list of top 10 localities in attracting the largest FDI with 12,398 projects, and a total registered capital of 57.632 billion USD, accounting for 31.67% of the total number of FDI projects in the country and nearly 13% of the total registered capital.
In 2024, with many outstanding policy mechanisms, Ho Chi Minh City will take advantage of the opportunity to receive investment from many countries around the world. Thereby, the city will have the conditions to accelerate the economic transition process, contributing to Vietnam's structural transformation towards a more modern, greener, cleaner and more productive direction. In particular, with Resolution 98 on piloting a number of specific mechanisms and policies, Ho Chi Minh City can apply many preferential investment policies.
Recently, the People's Committee of Ho Chi Minh City issued a decision approving the Project to improve the efficiency of attracting FDI capital in Ho Chi Minh City for the period 2023-2025, vision to 2030.
Accordingly, Ho Chi Minh City increases the proportion of FDI with high added value, ensuring fast, sustainable economic growth, having a positive FDI spillover effect on the private economic sector and contributing to promote the city’s economic growth in the 2023 – 2025 period, with a vision to 2030.
At the same time, Ho Chi Minh City also focuses on industries with high added value, using a lot of knowledge, less labor intensive, using advanced technology, new technology, high technology of the 5th industrial revolution, modern management, high added value, positive spillover effects, connecting global production and supply. The city also pays attention to expanding markets, taking advantage of capital, technology, management knowledge, and corporate culture of the FDI sector.
Besides, the city also improves the efficiency and comprehensive quality in attracting and using FDI capital flows, increasing the contribution rate of the FDI sector in economic and social development, corresponding to the advantages and supports. The proportion of businesses using advanced technology, modern management, environmental protection, and aiming for high technology increased by 50%/year.
To achieve the above goal, Ho Chi Minh City implements solutions to improve the efficiency of attracting FDI investment in the period 2023-2025, with a vision to 2030. Specifically, the city will complete the development planning of industries and fields as well as improve infrastructure to attract FDI investment.
At the same time, the city will also complete policy mechanisms to encourage FDI attraction in the city. In particular, it will comprehensively reform the current incentive policy framework and shift to incentives based on results, work efficiency, and post-investment support for completed projects. At the same time, the city will improve mechanisms and policies to create new incentives to attract and use FDI in industrial parks, export processing zones, economic zones, high-tech zones, and high-tech agricultural zones; and review and recommend to the Central Government the mechanisms and regulations that still have problems and need to be resolved in order to implement legal regulations in accordance with international practices.
On the other hand, the city will maximally review administrative procedures and business investment conditions to ensure maintaining trust and increasing sustainable business investment. In particular, the city continues to promote administrative reform, perfect the legal system, mechanisms and policies in accordance with the requirements of international economic integration.
Besides, the city also develops a plan to attract FDI investment targeting multinational and transnational corporations; innovate investment promotion work to attract FDI; improve the quality of human resources and enhance exchange and dialogue with foreign investors.
CK
Source: VITIC/haiquanonline.com.vn