HCM City (VNA) – Ho Chi Minh City is poised to attract🥀 a new wave o𝓰f investment from US enterprises, with numerous projects proposed in key sectors.
A recent highlight was the HCM City Autumn Forum 2024 organised in New York by the municipal authorities, which drew strong interest from US investors, particularly in the areas of technology, finance, and healthcare.
In his remarks, Chairman of the municipal People’s Committee Phan Van Mai said the city is willing to accompany US investors in their areas of interest and proposed making the forum an annual event.
This month, a delegation of leading US investment funds will visit the southern economic hub to co-host a conference on IPO strategies and provide insights into developing the city’s financial centre.
Philippe Ghanem, CEO and founder of SquaredFinancial, said it is a “ripe time” for HCM City to establish a new financial centre in Asia, as the city has all favourable conditions needed.
By early 2025, more than 30 US enterprises are expected to return to Vietnam to deploy signed agreements and expand links with the local business community.
Several high-profile investment projects from US firms have already been proposed. Smart Tech Group Vietnam, a subsidiary of US-based Smart Tech Group, has suggested investing 340-850 million USD to build a battery production plant for energy storage. The company is currently seeking a suitable site in the city.
Coteccons, a Vietnamese construction firm, has partnered with the US-based Eaton Corporation to propose building a data centre in the city's Saigon Hi-Tech Park.
Meanwhile, the Evolution Group, under the US investment firm Warburg Pincus, has submitted a proposal to the municipal authorities for a large-scale, 36 MW data centre in the same location, with an estimated investment of 305 million USD.
The US multinational corporation and technology company NVIDIA has shown keen interest in the city. In July, it dispatched multiple delegations to explore the local opportunities for establishing an AI research, development, and training centre, installing a supercomputer system, and partially relocating its GPU (graphics processing unit) manufacturing operations to Vietnam. Marvell Technology is also preparing to expand its chip design centres in the city./.
From this month until early 2025, representatives of leading US investment funds and over 30 businesses will visit Ho Chi Minh City to seek investment opportunities and implement signed agreement and reciprocal visits following a state-side visit from Vietnam.
Ho Chi Minh City and the US state of Indiana have the potential for cooperation in many fields, particularly industrial production, agriculture, education, and healthcare, said Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan at a meeting with US Senator from Indiana state Todd Young on March 29.
Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan on January 26 hosted a reception for Chairwoman of the House of Foreign Affairs Subcommittee on the Indo-Pacific Kim Young, who is leading a US congressional delegation to pay a working visit to the city.
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The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
