The Ho Chi Minh City Department of Finance announced on the afternoon of 2/4 that the city attracted nearly 2,9 billion USD in foreign investment during the first quarter. This figure represents a 220% increase compared to the same period last year. A highlight among these investments is the TikTok Shop Vietnam project, a newly registered venture from Singapore-based investor TikTok PTE. LTD, which brings 125 million USD into the information and communication sector.

This substantial investment follows discussions late last year between TikTok leaders and the Ho Chi Minh City People's Committee. The social media platform is considering converting three of its services from offshore to onshore providers at IFC Ho Chi Minh City. TikTok plans to establish three companies at IFC Ho Chi Minh City to manage operations related to: logistics services, digital payments, and digital commerce.

Outside the Saigon Marina IFC building, 8/2025. Photo: Quynh Tran

Beyond TikTok, other significant new projects include the Techtronic Tools Vietnam factory. Techtronic Industries Company Pte. Ltd (Singapore) invested 81 million USD in this facility, which operates within the manufacturing and processing industry.

Ho Chi Minh City also recorded several other notable foreign direct investment projects in Quarter I. In the capital increase category, MSD Animal Health Vietnam (Netherlands) added 80 million USD, SP Vietnam Ho Chi Minh City (Singapore) added 67 million USD, and Momogi Group Vietnam added over 55 million USD. The largest transaction in terms of capital contribution and share purchase involved an Indonesian investor injecting over 1,7 billion USD into VLD Investment and Finance Joint Stock Company. Additional investments came from South Korea, Singapore, and China, targeting finance, technology, and supporting industries.

The nearly 2,9 billion USD capital inflow in the first quarter demonstrates foreign investors' confidence in Ho Chi Minh City's business environment, amidst ongoing global economic fluctuations, according to the Department of Finance. The city aims to attract approximately 11 billion USD in foreign direct investment this year. Moving forward, Ho Chi Minh City prioritizes high-tech projects, innovation, data centers, logistics, and green growth. The city is also accelerating administrative reforms to maintain its momentum in attracting foreign capital.

Le Tuyet