Ho Chi Minh City (VNA) – Ho Chi Minh City is reshaping its foreign direct investment (FDI) strategy, shifting from quantity-driven attraction towards a more selective approach focused on high technology, innovation, the digital economy, circular economy and green growth.
The southern economic hub attracted nearly 3.3 billion USD in FDI during the first four months of 2026, marking a sharp year-on-year increase of 227.1%. The total included 539 newly licensed projects with registered capital exceeding 791.8 million USD and 58 existing projects adding 259.3 million USD in supplementary investment.
FDI inflows are increasingly moving away from labour-intensive industries towards sectors with higher technological content and added value, including artificial intelligence (AI), data centres, logistics and advanced services.
Several major projects approved or expanded recently reflect this trend, such as the Nha Be Metrocity GS project with an additional 2.2 billion USD in capital, the Thu Thiem smart complex project with a further 1.2 billion USD, and a 2.1-billion-USD AI data centre project in Tan Phu Trung Industrial Park. The city is also seeing stronger interest from multinational technology, e-commerce and financial corporations.
The shift is in line with Ho Chi Minh City’s vision of becoming a regional financial centre, innovation hub and digital economy powerhouse in Southeast Asia. Beyond financial resources, FDI is expected to bring advanced technologies, modern management expertise and deeper integration into global value chains.
However, authorities acknowledge that the key challenge now lies not only in attracting investment pledges but also in accelerating the disbursement and implementation of projects to create factories, research facilities, jobs and real economic value.
A number of large-scale projects have experienced delays linked to land clearance, planning procedures and coordination issues among agencies. These obstacles continue to affect investor confidence and decisions on long-term expansion.
According to businesses, investors today are paying closer attention not only to tax incentives and land costs, but also to legal stability, policy consistency and administrative efficiency. As the global minimum tax regime takes effect and countries across the region introduce new-generation FDI incentives, governance quality is becoming a critical competitive advantage.
The city’s recently unveiled list of 250 investment projects for the 2026-2030 period demonstrates a more strategic effort to channel investment into priority sectors instead of focusing solely on headline capital figures.
Alongside institutional reforms, Ho Chi Minh City is also facing mounting pressure to upgrade infrastructure and develop a highly skilled workforce. Industries such as semiconductors, AI, digital finance and data centres require specialised talent capable of adapting quickly to technological change. Without sufficient human resources, the city may struggle to maintain its appeal for high-tech investment over the long term.
As global competition for FDI intensifies, Ho Chi Minh City is aiming to build a more transparent, stable and efficient investment climate while ensuring investment commitments translate into concrete projects, technology transfer and stronger economic competitiveness./.
