Ho Chi Minh City’s FDI inflows surge to $9.8 billion in January-July

Notably, the city attracted 467 science and technology projects with total registered capital exceeding $557.7 million, city authorities said at a socio-economic conference on Wednesday.

These included 224 newly licensed projects worth $22.8 million, 27 capital expansion projects totaling $179.7 million, and 216 capital contribution and share acquisition transactions valued at $355.2 million.

The city also reported positive growth across several key economic indicators, with total retail sales and service revenue reaching VND1,133.7 trillion ($43.3 billion), up 13.3 percent year-on-year.

Tourism revenue rose 55.3 percent to more than VND237.4 trillion ($9.1 billion).

State budget revenue in the city reached VND575.463 trillion ($22.1 billion), fulfilling 71.6 percent of the annual target and rising 21 percent year-on-year.

The city has allocated more than VND147.6 trillion ($5.6 billion) for public investment in 2026, equivalent to the full amount assigned by the prime minister.

By the end of July, the city had disbursed about VND63.8 trillion ($2.4 billion), or 43.2 percent of the annual plan.

Local authorities said they have completed public consultations on its 2025-50 master plan and are continuing work on urban railway planning, transit-oriented development (TOD) projects, regional connectivity, and procedures for key infrastructure projects.

Speaking at the conference, Nguyen Van Duoc, chairman of the Ho Chi Minh City People’s Committee, said the city must maintain strong growth momentum to achieve its economic targets for the year.

He noted that the city aims to record growth of at least 11 percent in the third quarter and 11.8 percent in the fourth quarter, while addressing challenges including a trade imbalance as imports continue to outpace exports.

The chairman also called for closer attention to public and private investment, land clearance, education, healthcare, and school infrastructure.

Looking ahead, Ho Chi Minh City aims to meet and exceed its target of attracting $11 billion in FDI this year by improving the investment climate, accelerating public investment disbursement, removing bottlenecks related to land and planning, and supporting private-sector growth, innovation, digital transformation, and green development.