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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Friday, July 18, 2025

HCMC lacks industrial land for FDI projects

By Hung Le

Must read

HCMC – The city is running short of industrial land for big foreign direct investment (FDI) projects, said HCMC Chairman Phan Van Mai.

Speaking during a hybrid meeting with foreign investors chaired by Prime Minister Pham Minh Chinh late last week, Mai said the city now lacks large locations of industrial land for strategic investors.

With the global minimum corporate tax of 15% coming into force next year, tax incentives cannot apply. Therefore, HCMC is now expediting infrastructure projects, making more industrial land available by forming new industrial parks and adjusting the leasing prices of the existing ones.

He proposed the prime minister include two industrial parks, Pham Van Hai 1 and Pham Van Hai 2 in Binh Chanh District, in the city’s industrial park development plan.

HCMC requested the prime minister direct ministries and agencies to update national policy on FDI attraction given the global minimum tax.

In 2022, HCMC attracted US$4.33 billion in new FDI capital, of which US$2.8 billion, 65.7% of the total, came from hi-tech projects.

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