Foreign investment in HCMC surges 4.2-fold

Nearly $9.8 billion came from 1,726 newly licensed projects, while existing projects added $5.7 billion in registered capital, according to the municipal statistics agency. Foreign investors also contributed more than $3.6 billion to domestic businesses through capital contributions and share purchases.

Nguyen Loc Ha, vice chairman of the HCMC People's Committee, said the city had attracted several major projects, including the Can Gio International Transshipment Port, with investment exceeding $4.9 billion, and a $2.1 billion AI Factory data center project.

"This is a positive sign of investors' interest and confidence in the city," he said at the Fortune Southeast Asia 500 Summit in HCMC.

Foreign investment has increased following the city's merger with Binh Duong and Ba Ria-Vung Tau provinces. The expanded city has more than 14 million residents and contributes approximately 23.5% of Vietnam's gross domestic product.

Downtown Ho Chi Minh City near the Saigon River in August 2026. Photo by VnExpress/Quynh Tran

Ha said the city has strengths in finance, trade, services and high-tech manufacturing, as well as access to international shipping routes through the Cai Mep-Thi Vai deepwater port complex.

HCMC is focusing on four areas to attract more investment: improving institutions and long-term planning; linking foreign investors with domestic supply chains; developing infrastructure and growth drivers such as the international financial center, free trade zones, logistics, AI and automation; and improving public services, transparency and support for businesses.

The city's economy also recorded growth in several areas during the first 10 months of the year. Industrial production rose 11% year-on-year, exports increased 10.9%, and retail sales of goods and consumer services grew 14.7%.

Public investment disbursement exceeded VND114.4 trillion ($4.48 billion), equivalent to 77.5% of the annual plan.

However, rising global fuel prices contributed to inflationary pressure, with the city's consumer price index increasing by an average of 4.78% during the period.

Business activity remained challenging. From the beginning of the year through Oct. 20, HCMC licensed more than 44,700 new businesses with combined registered capital of VND365.185 trillion.

The number of newly established businesses fell 6% year-on-year, while their registered capital dropped 58.1%.