Foreign investors flock to invest in southern provinces and cities

Foreign investors have recently rushed to southern Vietnamese provinces and cities to look for investment opportunities and locations.

A view of HCM City. The HCM City People's Committee has organised a conference on investment promotion in the US. (Photo: VNA)

Last week, representatives of more than 40 German enterprises came to Dong Nai province to learn about potential investments there.

Alexander Ziehe, Chairman of the Association of German Enterprises in Vietnam, said he is very impressed with the open and professional environment that Dong Nai is creating for foreign businesses, including for German enterprises, Dau tu (Investment) newspaper reported.

Meanwhile, since the beginning of the year, Dong Nai has also welcomed representatives of business associations from the Republic of Korea (
RoK), Japan and India to learn about the investment environment. Investors have shown interest in developing projects in the province.

These include Harbor Star Engineering Global Group (RoK)'s urban, commercial, service, entertainment and logistics projects around Long Thanh Airport, and Aeon Mall Group (Japan)'s shopping centre in Bien Hoa city, with a total investment of more than 6 trillion VND.

US investors have also revealed plans for three high-tech projects in the fields of advanced optics, measurement and semiconductor manufacturing that would be built by Coherent Group, as well as plans by TWG Group to construct smart urban areas.

Meanwhile, a group of foreign investors have also met with the authorities of Binh Duong province to outline plans for expansion of their investments in this province.

At the meeting, Yeh Ming Yuh, general director of Polytex Far Eastern Vietnam Co., Ltd., announced a plan to expand investment in Binh Duong to 1.54 billion USD.

Warburg Pincus Group (US) has also proposed to develop a cross-border e-commerce centre project in the province.

Binh Duong is also a major potential choice for AP Moller Maersk Group (Denmark) to invest in a large-scale logistics centre. Meanwhile, Tokyu Group (Japan) is researching and surveying locations to invest in semiconductor technology there.

HCM City has also received investment attention from several high-tech giants. In particular, delegations from NVIDIA Group (US) have come to the southern hub to find a location for an artificial intelligence (AI) research, development and training centre, and another location for partial production of a graphics processing unit (GPU) for supercomputers.

Other US giants have also suggested investment projects in HCM City, including Smart Tech Group's battery factory with a capital of 340-850 million USD, and an Evolution Group (under Warburg Pincus Investment Fund) data centre in the City's High-Tech Park.

Meanwhile, some southern localities have organised investment promotion programmes abroad to call for more foreign investment.

The HCM City People's Committee has organised a conference in the US promoting investment in the metropolis. At the conference, a series of agreements and memorandums of understanding were signed between the city and US partners.

In response to HCM City's investment invitation, in mid-November 2024, a delegation of leading US investment funds came to the city to discuss an IPO and the building of a financial centre in the southern hub.

More than 30 US businesses are scheduled to arrive in HCM City early next year to implement their signed agreements.

Long An province also held a trade and investment promotion conference in Europe from November 11 to 21. Provincial leaders worked with large corporations in France, Belgium and Germany in the fields of transportation, energy and industry, including France's Sotelanche Freysinet Group.

A provincial investment promotion delegation also attended the Vietnam capital symposium in Frankfurt, Germany to connect with European enterprises investing in green transformation projects in Vietnam.

Previously, Binh Duong and Dong Nai provinces also organised a series of investment promotion conferences in their key markets, including Japan, the RoK and China.

Proactively researching investors' needs has helped Binh Duong come up with a suitable list of investment projects, so investment promotion activities are very effective, said Mai Hung Dung, Vice Chairman of the Binh Duong provincial People's Committee./.

(Source:VNA)