FDI surges in Ho Chi Minh City, reaching nearly $2.9 billion in Q1

FDI surges in Ho Chi Minh City, reaching nearly $2.9 billion in Q1

In the first quarter, Ho Chi Minh City attracted nearly $2.9 billion in foreign direct investment, up 219 per cent on-year. This year, the city is prioritising high-tech and environmentally friendly projects.

The figures were shared by Nguyen Hoang Anh, deputy head of the General Policy Division at the Ho Chi Minh City Department of Finance, at a press briefing on the city’s socioeconomic performance on March 26.

"Despite significant impacts from global geopolitical volatility, the city’s economy has maintained growth momentum, supported by strong domestic consumption and robust FDI inflows," he said.

FDI attraction stood out as the brightest highlight in the city’s economy in the first quarter of 2026. Total registered FDI reached nearly $2.9 billion, marking a sharp 219 per cent increase compared to the same period in 2025.

According to Hoang Anh, this result stems from the city’s determined efforts to remove obstructions facing investment projects. To date, 738 out of 838 projects, including many foreign-led projects, have had obstacles resolved, unlocking more than $6.6 billion in investment capital and providing tangible resources for economic growth.

Recently, the Department of Finance issued Plan No.6824/KH-STC, setting a target of $11 billion in FDI inflows for 2026. Priority sectors include high-tech, high value-added, and environmentally friendly projects linked to innovation, research and development centres, data centres, strategic infrastructure, logistics, international finance, and eco-industrial parks.

In 2026, Ho Chi Minh City is shifting decisively from a reactive approach to a proactive, enabling model, committing to accompany businesses while accelerating the resolution of long-standing projects to unlock investment resources.

Alongside strong FDI inflows, domestic consumption continues as a key growth pillar, supporting the city’s high economic growth in the first quarter.

Total retail sales of goods and consumer service revenue in the first quarter are estimated at $19 billion, up 13.7 per cent on-year. Notably, the tourism sector remains a major growth driver, generating around $6 billion in revenue, equivalent to 45.4 per cent of the annual target.

“Despite significant challenges from the global context, Ho Chi Minh City remains steadfast in its spirit of innovation, proactivity, and action for the common good. The city is confident it can turn uncertainty into opportunity and reaffirm its role as a leading growth engine in the nation’s new era of development,” Hoang Anh said.

VIR