Hanoi (VNA) - Ho Chi Minh City has nearly achieved its 2026 target of attracting 11 billion USD in foreign direct investment (FDI), underlining the city’s growing attractiveness to international investors and its increasingly important role as an economic hub.

Major projects continue to flow in

According to the municipal Department of Finance, the southern city attracted nearly 2.9 billion USD in FDI in the first quarter of 2026, up 220% year-on-year. It is expected to draw an additional 8.9 billion USD in the second quarter, enabling it to fulfil its annual target of 11 billion USD.

By the end of April, total registered FDI had already reached 3.3 billion USD. The city is aiming to attract a further 2 billion USD during the third and fourth quarters of the year.

During the period, 644 newly licensed foreign-invested projects were granted investment registration certificates with total registered capital exceeding 800 million USD. Another 65 previously licensed projects increased their investment capital by nearly 272 million USD.

Ho Chi Minh City also approved 641 cases involving foreign investors contributing capital, purchasing shares or acquiring capital stakes in domestic enterprises, with total registered capital contributions equivalent to nearly 2.3 billion USD.

A number of large-scale projects have significantly contributed to the city’s strong FDI performance. Among them is the Can Gio international transshipment port project, with total investment capital of 4.9 billion USD.

The project is being jointly implemented by the Vietnam Maritime Corporation (VIMC), Saigon Port Joint Stock Company and Terminal Investment Limited Holding S.A, a member of MSC – the world’s largest shipping line headquartered in Switzerland. The consortium received official investor approval in April.

Other notable projects include the Nha Be Metrocity GS project, which increased its investment capital by 2.2 billion USD; the smart complex project in Functional Area No. 2a of the Thu Thiem New Urban Area, which added around 1.2 billion USD in investment capital; and an artificial intelligence (AI) data centre project at Tan Phu Trung Industrial Park, with registered investment capital of approximately 2.1 billion USD.

From the perspective of investors, many foreign businesses have expressed confidence in Ho Chi Minh City’s new investment attraction policies.

Kume Kunihide, Chairman of the Japanese Chamber of Commerce and Industry in Ho Chi Minh City (JCCH), said Japanese enterprises continue to regard Vietnam, particularly Ho Chi Minh City, as a leading investment destination.

Positive results derived by proactive policies

Director of the Ho Chi Minh City Department of Finance Hoang Vu Thanh said the department, as the city’s key advisory body on FDI attraction, issued its 2026 FDI attraction plan as early as March.

He noted that detailed planning, together with strong support from city leaders and relevant departments, has enabled investment procedures and inter-agency consultations to be processed rapidly and efficiently.

According to Thanh, some major projects have had their procedures completed within just one month despite their large investment value.

However, he stressed that the will prioritise attracting multinational corporations and strategic investors possessing core technologies, advanced management capabilities and strong innovation capacity, particularly in high technology, innovation, data centres, logistics, seaports, supporting industries, international finance and green growth.

The city is also reforming investment promotion activities by tailoring approaches to specific markets, investor groups and projects, while strengthening post-investment support to improve the conversion rate from investor interest to actual investment, he said.

The official added that stronger linkages will be fostered between foreign-invested enterprises and domestic businesses in order to develop supply chains and enhance the spillover effects of foreign capital flows.

Meanwhile, Cao Thi Phi Van, Deputy Director of the city's Investment and Trade Promotion Centre (ITPC), said the city’s advantages in market scale, business ecosystems, logistics infrastructure, innovation and international connectivity have remained key factors supporting FDI attraction.

She expressed confidence that with the implementation of special mechanisms and plans to develop a Vietnam International Financial Centre, Ho Chi Minh City will continue to serve as a strategic destination for high-quality investment flows./.