Thursday, May 30,2024 - 4:56 GMT+7  Việt Nam EngLish 

Ho Chi Minh City still to be good FDI attractor in 2024 

 Thursday, February 1,2024

AsemconnectVietnam - The year 2024 is forecast to continue to be a successful year for Vietnam in general and Ho Chi Minh City in attracting foreign investment (FDI) as it continues to lead the country in the number of newly granted FDI projects.

According to the data just announced by the Foreign Investment Agency (Ministry of Planning and Investment), in the first month of 2024, registered FDI capital (including new grant, adjustment and capital contribution, share purchase, capital contribution) into Vietnam reached more than 2.36 billion USD, an increase of more than 40.2% over the same period last year. Regarding investment capital structure, the total newly registered capital reached more than 2 billion USD, an increase of 66.9% over the same period last year. The number of new projects increased rapidly (190 projects, an increase of 24.2%), and there were also large-scale investment projects.
The Foreign Investment Department said that FDI projects still focus heavily on provinces and cities that have many advantages in attracting foreign investment (good infrastructure, stable human resources, reform efforts, administrative procedures and dynamism in investment promotion, etc) such as: Ho Chi Minh City, Hanoi, Ba Ria - Vung Tau, Bac Giang, Bac Ninh, Dong Nai, Hai Phong. Totally, these 7 localities accounted for 72.1% of new projects and 82.5% of the country's capital in January of 2024.
In particular, Ho Chi Minh City leads the country in both the number of new projects (accounting for 42.1%) and capital contributions and share purchases (accounting for 78.2%) in the first month of 2024.
Looking back at 2023, Ho Chi Minh City has also taken the lead in the top 10 localities attracting the largest FDI with 12,398 projects, with 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.
Mr. Hua Quoc Hung, Head of the Management Board of Ho Chi Minh City Industrial and Export Processing Zones (Hepza), said that attracting investment focuses on domestic and foreign high-tech projects with large investment capital. 2023 was the first year attracting investment in Ho Chi Minh City’s industrial parks to reach over 1 billion USD, a sharp increase compared to the figure of about 480 million – 800 million USD per year in previous years.
In 2024, Hepza sets a target of attracting 550 million USD in investment capital, with an average investment rate of 8.5 million USD/ha.
In the context of the boom of the 4.0 industrial revolution, it is necessary to restructure industrial parks and export processing zones to switch to high-tech industries and fields with high labor productivity and high knowledge content.
Accordingly, in 2024, Hepza will complete the pilot conversion project of 5 Export Processing Zones and Industrial Parks. Specifically, Tan Thuan Export Processing Park (District 7) will transform in the direction of attracting projects in the high-tech field; Cat Lai Industrial Park (Thu Duc City) converted into logistics industrial park; Tan Binh Industrial Park (Tan Phu – Binh Tan) is invested according to the high-tech industrial park model; Binh Chieu Industrial Park (Thu Duc City) partially transformed towards industrial services.
CK
Source: VITIC/ haiquanonline.com.vn

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