HCMC – New foreign direct investments (FDI) in HCMC reached US$365.8 million in the first two months of this year, up by a sharp 87.1% versus the same period last year, according to the city’s Department of Finance.
At a press briefing on March 6, Do Quang Hung, head of the department’s General Affairs and Budget Management Division, highlighted the city’s economic growth.
Total retail sales of goods and services in January and February stood at VND212.72 trillion, up by 15.9% year-on-year. Meanwhile, the city’s export revenue was estimated at US$7.86 billion, up by 19.17%.
Regarding investment, HCMC issued investment registration certificates for 153 new projects, with total registered capital amounting to US$89.15 million.
Despite the surge in FDI, business formation showed signs of slowing. The number of newly established enterprises declined by 37.6%, while registered capital dropped by 47.9%. Additionally, the number of temporarily suspended enterprises rose by 12.3% year-on-year, equivalent to 15,800 businesses.
HCMC is set to launch several major infrastructure projects in the coming months. The city’s Transport Construction Investment Management Board announced that construction of the My Thuy Interchange Phase 3 will begin in March.
In April, land clearance will commence for key projects such as the HCMC-Moc Bai Expressway and sections of Beltway No. 2. The HC1 tunnel at the An Phu interchange is also scheduled for completion and operation, while the expansion of Duong Quang Ham Street is expected to be completed once power lines are relocated by March 31.
The city will complete and open the Tran Quoc Hoan – Cong Hoa road connection to Terminal T3 and a new access road to the Vietnam Buddhist Academy (Phase 1).
Authorities are also preparing to approve various components of the HCMC-Moc Bai Expressway Phase 1 project, covering public-private partnership investment, auxiliary roads, overpasses, and land clearance compensation.
