Ho Chi Minh City’s FDI firms rise 41% in five years, employ over a quarter of workforce

The city had 964,490 operating economic establishments, non-public administrative and public service units, associations, non-governmental organizations, and religious and belief establishments, employing a total of 5.82 million workers.

The number of FDI enterprises grew by an average of 7.1 percent annually during the 2020-25 period. This was the fastest growth rate among the three types of enterprises.

According to the statistics agency, the increase further demonstrates the appeal of Ho Chi Minh City's investment environment while reflecting foreign investors' efforts to shift supply chains and expand production and business operations.

Although FDI enterprises account for only around 1.5 percent of all operating establishments in the city, they employ over a quarter of the city's total workforce.

This highlights the high concentration of employment in the FDI sector, particularly in manufacturing, processing and supporting industries.

In addition to expanding in terms of the number of businesses and workers, the FDI sector also has significantly larger capital and revenue scales.

In 2025, the average capital of an FDI enterprise reached VND391.4 billion (US$14.9 million), about 10 times the average of VND39.2 billion ($1.5 million) for non-state enterprises, and ranking second only to state-owned enterprises.

In terms of business performance, FDI enterprises generated net revenue of VND3.9 quadrillion ($148.3 billion), up 65.6 percent from 2020, equivalent to an average annual growth rate of 10.6 percent during the 2020-25 period.

Meanwhile, the non-state enterprise sector continued to dominate in terms of the number of enterprises, with over 282,400 businesses, accounting for 95.2 percent of all operating enterprises.

The number grew 16.2 percent from 2020, or an average annual growth rate of 3 percent.

This sector generated approximately VND7.4 quadrillion ($282 billion) in net revenue, up 43.3 percent over the five-year period.