Business

Clock ticking for southern localities to fulfil FDI attraction targets

While some southern localities have fulfilled their targets for FDI attraction, the clock is ticking for many others to complete their goals since there are only 1.5 months left to the end of 2023.
Clock ticking for southern localities to fulfil FDI attraction targets ảnh 1The clock is ticking for many southern localities to complete their FDI attraction goals. (Photo: VNA)
Hanoi (VNA) – While some southern localities have fulfilledtheir targets for FDI attraction, the clock is ticking for many others to completetheir goals since there are only 1.5 months left to the end of 2023.

With low supply of industrial land, Ho Chi Minh City did not set ambitioustargets in luring foreign capital.

According to the Ho Chi Minh City Export Processing and Industrial ZonesAuthority (HEPZA), foreign investors funneled nearly 950 million USD into thesouthern hub’s industrial parks during January – October, or 172% of the yearlyplan. Of the total, some 184 million USD was poured into the city in October, ayear-on-year rise of 28%.

Dong Nai, another FDI magnet, realised its attraction target right in Septemberafter drawing 120 foreign-invested projects worth nearly 940 million USD in thefirst nine months, surpassing the yearly plan by around 34%. The province has become more attractive to foreign enterprises thanks to itsfavourable geographical location, sound administrative reform and infrastructureupgrade.

Clock ticking for southern localities to fulfil FDI attraction targets ảnh 2With low supply of industrial land, Ho Chi Minh City does not set ambitious targets in luring foreign capital. (Photo: VNA)
In the meantime, others in the southern key economic region are racing againsttime to secure more foreign investment.

Some 1.3 billion USD in foreign capital was registered in Binh Duong, another industrial hub in the south, so far this year, or 70% of the set plan. However, the target of 1.8billion USD for the whole year is within reach of the province as many largecorporations have announced their plans to increase investment in thelocality.

In recent years, FDI attraction in Binh Duong has exceeded its set goals.According to statistics from the provincial People’s Committee, the provincegot 9.56 billion USD in foreign investment during 2020-2023, higher than itstarget of around 9 billion USD. By 2025, FDI attraction in the province isexpected to reach 13.2  billion USD.

Meanwhile, Director of Department of Planning and Investment of Ba Ria – Vung Tauprovince said the province is likely to fulfill 78% of its goal this year dueto global economic headwinds, sluggish progress on land auction and incompletetransport infrastructure.

Since many US and European firms have come to look into investment climate as wellas propose investment in the southern localities in recent time, FDI attractionin the region is said to scale up in the coming time./.
VNA
#FDI attraction #clock is ticking #ambitious targets #HCM City #HEPZA #Binh Duong #Dong Nai #Ba Ria - Vung Tau #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

Nine-month FDI attraction up 7.7%

Nine-month FDI attraction up 7.7%

Vietnam attracted nearly 20.21 billion USD in foreign direct investment (FDI) from the beginning of this year to September 20, up 7.7% year-on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Dong Nai’s FDI attraction surpasses yearly plan

Dong Nai’s FDI attraction surpasses yearly plan

The southern province of Dong Nai drew over 120 foreign-invested projects worth nearly 940 million USD in the first nine months of this year, surpassing the yearly plan by around 34%, said the Dong Nai Industrial Zones Authority (DIZA) on October 3.
Hai Phong’s FDI attraction growth tops 140%

Hai Phong’s FDI attraction growth tops 140%

The northern port city of Hai Phong reeled in more than 3 billion USD worth of foreign direct investment (FDI) in the past nine months, up over 140% year-on-year and exceeding the yearly plan by over 52%.

See more

A refilling station of Petrolimex (Photo: VNA)

Import tariffs on certain fuel products reduced to 0%

Rising tensions in the Middle East, particularly the conflict involving the US, Israel and Iran, have significantly affected the global energy market, especially shipping activity through the Strait of Hormuz – a strategic route for transporting crude oil from the region.

Fishermen raise the national flag before heading out to the sea to affirm Vietnam’s sovereignty over its seas and islands. (Photo: VNA)

Dong Thap promotes IUU awareness from start of fishing season

Gia Thuan commune, located in the eastern part of the province, is a key fishing locality with 563 fishing vessels, including 423 offshore boats and 140 nearshore vessels, producing an average annual catch of over 42,970 tonnes of seafood.

Industrial production surges in the first two months of 2026. (Photo: VNA)

Industrial production posts strong growth in first two months

According to the National Statistics Office (NSO) under the Ministry of Finance, the index of industrial production (IIP) in February was estimated to decrease 18.4% from the previous month but increase 1% year on year. Overall, in the January–February period, the IIP rose 10.4% compared with the same period last year.

A delegation from the Nghe An provincial People’s Committee inspects production and business activities at the VSIP Nghe An Industrial, Urban and Service Park. (Photo:nhandan.vn)

Nghe An steps up reforms to attract FDI

In 2025, the provincial People’s Committee licensed 25 new FDI projects and approved capital adjustments for 20 others, bringing the total newly registered and additional investment to more than 1 billion USD. Many large-scale projects in the Southeast Nghe An Economic Zone have already become operational, contributing to export growth, state budget revenues and job creation.

Nearly 35,500 enterprises are newly registered nationwide, with total registered capital reaching nearly 313.7 trillion VND and more than 167,500 registered workers. (Photo: VNA)

Nearly 35,500 new businesses set up in first two months

The enterprises registered combined capital of about 313.7 trillion VND and more than 167,500 employees. Compared with the same period last year, the number of new businesses surged by 70.7%, while registered capital rose by 36.1% and registered labour increased by 19.1%.

The yarn factory of Unitex Textile and Dyeing Company Limited applies new technology to optimise operations using an automated model. (Photo: VNA)

Resolution 68: International lessons for private sector development

A common feature in many successful economies is a fundamental shift in the perception of private enterprises. In countries such as Singapore, Germany, Republic of Korea (RoK) and China, private firms are viewed not mainly as entities requiring strict control but as development partners and key forces generating growth, jobs and innovation.

The production line of Regza Electronics Vietnam Co., Ltd. located in Dong Nai province. (Photo: VNA)

Vietnam’s overseas investment rises 2.3-fold in first two months

During the period, 36 new overseas projects were granted investment certificates with total registered capital from Vietnamese investors reaching 532.4 million USD, up 2.3 times compared to the same period last year. In addition, three projects adjusted their capital with an additional 7.8 million USD, 1.5 times higher than a year earlier.

Workers of PTSC Thanh Hoa check the system for crude oil imports. Vietnam saw strong increase in fuel imports in the first two months of this year. (Photo" VNA)

Vietnam records strong increase in fuel imports in two months

Statistics of Vietnam Customs showed that Vietnam spent more than 1.44 billion USD importing 2.18 million tonnes of petroleum products in the first two months of this year, representing a sharp increase of 31.4% and 43%, respectively, over the same period last year.