Ho Chi Minh City to Announce Key Investment Projects to Foreign Corporations

Lately, Ho Chi Minh City Party Committee issued Directive No. 28-CT/TU, which states that the City will announce key investment projects to foreign corporations in the near future.

Tracy Dao

October 23, 2023 | 10:32

The Directive is to continue to improve the quality and effectiveness of foreign information work in the new situation.

The directive clearly states that Ho Chi Minh City will promote economic diplomacy activities, and introduce policies, development trends, and key investment projects of the city to attract foreign investors, businesses, and global economic corporations.

Agencies and units in the City focus on propagandizing, educating, fostering, and enhancing patriotism, national pride, and a sense of responsibility to protect and enhance the image of the nation and people for officials, party members, domestic people, and overseas Vietnamese community, especially the younger generation.

Accordingly, the City will continue to maintain and strengthen friendly and cooperative relations with the Front organization and people's organizations of traditional partner countries, especially neighboring countries and the ASEAN community.

Ho Chi Minh City to Announce Key Investment Projects to Foreign Corporations

Literary and art exchange festival between Ho Chi Minh City and Daegu city (Korea). (Photo: Ho Chi Minh City Party Committee)

Ho Chi Minh City will also strengthen the innovation of propaganda and foreign information activities, promoting the image of Vietnam and Ho Chi Minh City. It directed that the City People's Committee would develop a plan to organize propaganda activities to honor President Ho Chi Minh and Vietnamese celebrities honored by the world. This plan also focuses on introducing historical and traditional values, thereby promoting the images of the country, people, culture, and achievements of the Doi moi, the noble values and ideas of the Vietnamese people... in creative and diverse forms.

According to data from the Foreign Investment Agency (Ministry of Planning and Investment), in the first 7 months of 2023, Ho Chi Minh City is the leading area nationwide in terms of number of new projects (39.5%), number of project adjustments (24.7%) and capital contributions and share purchases (69%) by foreign investors.

Currently, Tan Thuan Export Processing Zone (Ho Chi Minh City) is the first export processing zone in the country with a high-tech park model that attracts the world's leading corporations such as Intel, Samsung, and Nidec to set up their factories. Some other prominent projects attracting foreign investment in Ho Chi Minh City include the smart complex in Functional Area No. 2A in Thu Thiem New Urban Area (investment capital of USD 885.85 million), the KNT ASIA project (investment capital of USD 215 million), Tech Mastery Vietnam Co., Ltd. (investment capital of USD 80 million).

Ho Chi Minh City is now building a project to attract FDI capital from strategic investors for the period 2023-2025 with a vision to 2030. It is expected that by 2025, the City will attract over 50 high-tech projects with at least one big-name high-tech corporation, with a total investment capital of at least USD 3 billion.

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Tracy Dao