HO CHI MINH CITY: HCM City attracted US$19.1 billion in foreign direct investment (FDI) in the first 10 months of 2026, exceeding its full-year target by 73.9 per cent, as it steps up efforts to attract international investors in high technology, strategic infrastructure, finance, logistics and green energy.
Speaking at the HCM City Investment Cooperation Forum 2026 on Nov 2, Nguyen Loc Ha (pic), standing vice chairman of the municipal People's Committee, said the city had several fundamental advantages for attracting a new generation of investors, including a large consumer market, a dynamic business community, developed financial and commercial services and an expanded industrial and maritime economic base.
He said the city sought long-term partners capable of bringing not only capital but also advanced technology, international management standards and opportunities for human resource development.
The city has more than 22,036 active FDI projects, with total registered capital exceeding $157.4 billion, maintaining its position as Vietnam's leading destination for foreign investment.
Its expanded development space, following the administrative merger with Binh Duong and Ba Ria–Vung Tau, is creating new opportunities to connect financial and service centres with modern industrial zones, deep-water ports and international logistics networks.
The enlarged economic area brings together financial services, innovation, manufacturing and maritime infrastructure within a more integrated development space.
This creates favourable conditions for investors to establish links across research, production, trade and regional supply chains.
The city is also leveraging special institutional mechanisms and new development models, including the Vietnam International Financial Centre (VIFC) and a proposed free trade zone, to improve its investment environment and strengthen its international competitiveness.
HCM City aims to achieve double-digit economic growth in the coming years and become a major economic, financial and service centre in Asia by 2045.
Its investment priorities include strategic infrastructure, high technology, finance, logistics, renewable energy and other industries with high added value.
The city is particularly interested in projects that bring advanced technologies, modern management practices and opportunities to develop its skilled workforce.
To support these ambitions, the city is applying a three-tier system of investment incentives, according to Phạm Quang Nhật, director of the city Investment and Trade Promotion Centre (ITPC).
The framework combines nationwide incentives, special mechanisms for strategic investors and preferential policies available in designated institutional development areas.
Under the incentives for eligible new projects in high technology, research and development (R&D) and semiconductor industries, corporate income tax is set at 10 per cent for 15 years, with a four-year tax exemption followed by a 50 per cent reduction in tax payable for the subsequent nine years.
Strategic investors can also benefit from priority customs procedures, workforce development support and assistance for research and development, alongside other incentives within the city's authority.
Meanwhile, eligible members operating in priority sectors of the VIFC in HCM City can enjoy a corporate income tax rate of 10 per cent for 30 years. Experts and managers working at the centre are eligible for personal income tax exemptions until the end of 2030.
Nhat said the three tiers were not mutually exclusive. Depending on the sector, investment scale and project location, investors could be considered for an appropriate combination of incentives in accordance with regulations.
ITPC is also strengthening its investor support mechanism, assigning dedicated contact points to individual investors and coordinating with relevant departments to provide procedural guidance, investment information, potential locations and business connections.
The centre will also receive feedback and address difficulties arising during project implementation, referring issues beyond its authority to the relevant agencies for consideration.
The forum also provided a platform for HCM City to strengthen engagement with multinational corporations and identify opportunities for practical cooperation.
Ahead of the event, the city had received more than 30 submissions covering eight groups of issues from multinational corporations in the Fortune network.
Their concerns included investment orientation, project implementation conditions, administrative procedures, infrastructure, land availability, workforce development and post-investment support.
The discussions were intended to help the city better understand investors' needs and translate their proposals into practical cooperation programmes and projects.
Their concerns included investment orientation, project implementation conditions, administrative procedures, infrastructure, land availability, workforce development and post-investment support.
The discussions were intended to help the city better understand investors' needs and translate proposals into practical cooperation programmes and projects.
Vietnam had 72 companies in the 2026 Fortune Southeast Asia 500 ranking, with combined revenue of about $177.9 billion based on 2025 financial data. Their revenue grew 10.5 per cent year on year – three times the regional average – accounting for around a quarter of the ranking’s total revenue growth.
Across the region, the 500 companies generated combined revenue of $1.88 trillion, up 3.4 per cent from the previous year, said Andrew Staples, editorial director of Fortune Asia. Việt Nam’s stronger growth highlights the rising presence of its businesses in the regional economy, as well as the need to expand production capacity, develop technology and build international partnerships.
Staples identified automation, electrification, energy management, advanced materials and resource-efficient manufacturing as areas with significant potential for cooperation between global corporations and Vietnamese businesses.
Closer links between international companies, domestic suppliers, universities and technical training institutions could help improve product quality, productivity and workforce skills, enabling Vietnamese enterprises to participate more deeply in global value chains.
Other potential areas include sourcing, imports, distribution and retail, as well as international capital mobilisation through equity investment, joint ventures and project financing associated with the VIFC.
Cooperation in logistics infrastructure, urban development and climate change adaptation was also highlighted as an important area for future investment.
At the forum's dialogue session, representatives of international business associations and corporations exchanged experience, assessed the local business environment and discussed prospects for expanding their operations in HCM City.
The city said it would continue strengthening direct engagement between local authorities, foreign investors and domestic enterprises, while improving coordination among relevant agencies to ensure that investment proposals could be followed up and developed into concrete projects.
Through these efforts, HCM City aims to attract more long-term, technology-intensive investment while creating opportunities for Vietnamese businesses to enhance their competitiveness and integrate more deeply into global production and supply chains. — Vietnam News/ANN
