Strategic investment attraction should be seen as a means, not an end: HCMC official
Vietnam and Ho Chi Minh City in particular need to look at attracting foreign investment as a means to realizing the goal of developing domestic industrial capacity, not just a short-term fix, said Nguyen Anh Thi, head of the Saigon Hi-Tech Park's (SHTP) management board.
Speaking at a Thursday conference on prospects and solutions to attract investors in the context of the global minimum tax (GMT) being applied and new trends in HCMC, the SHTP representative said that in the past the Vietnamese economy has relied heavily on foreign investment.
Industry lies at the center of every country's economic policy, so if Vietnam wants to develop an independent and autonomous economy, it must develop the domestic industry.
“Technological capacity and the presence of national high-tech parks are very important in attracting foreign investment, especially to key industries like semiconductors,” he noted.

Nguyen Anh Thi, head of the Saigon Hi-Tech Park's (SHTP) management board, speaks at a conference on prospects and solutions to attract investors in the context of the global minimum tax being applied and new trends in HCMC, March 14, 2024. Photo by The Investor/Kim Ngoc.
Citing the SHTP as an example, Thi said that the park is building two ecosystems associated with two stages of semiconductors in the short term: design and packaging. By the end of 2023, the SHTP had attracted $5 million of investment capital from Dutch company BE Semiconductor Industries N.V (Besi). This project is expected to promote the transfer of semiconductor chip packaging technology to HCMC in particular and Vietnam in general over the next 2-3 years, he added.
"We need to consider attracting strategic investment as a means, not an end. We must make strategic investors help us with improving technology transfer capacity and attracting investors to the supply chain," Thi stated.
The SHTP head noted that current investment attraction policies should revolve around people. If Vietnam wants to compete with other countries in the region, it must have a competitive personal income tax policy alongside other incentives.
“Vietnam’s six economic regions currently have different levels of development, leading to different mechanisms. Therefore, it is necessary to pilot this approach in leading localities like Ho Chi Minh City,” he said.
Noting 2024 is the first year that Vietnam will officially apply the GMT, he said that its implementation will create conditions to increase tax revenue from FDI enterprises, but will directly impact the country’s policies to attract foreign capital and its investment environment.
Pham Binh An, deputy director of the Ho Chi Minh City Institute for Development Studies, said that in the first two months of this year, Vietnam’s FDI commitments reached more than $4.29 billion, an increase of 38.6% over the same period in 2023. Domestic and foreign investors have been active in partnering with each other in catching up with new trends like emerging industries, new materials and energies, green and sustainable growth.
- Read More
Vietnam's stock market moving toward sustainability, professionalism: exec
The quality of investors in Vietnam has significantly improved as more and more investors start to adopt asset management strategies and disciplined investing, instead of merely engaging in short-term trading, said Nguyen Hoang Yen, chairwoman of Mirae Asset Securities.
Finance - Tue, July 8, 2025 | 11:40 pm GMT+7
Vietnam's credit growth hits record high since 2023
Vietnam’s total credit outstanding surpassed VND17.2 quadrillion (about $658.31 billion) in the first half of 2025, marking a 9.9% increase from the end of 2024 and a 19.3% rise year-on-year, the highest growth rate since 2023.
Banking - Tue, July 8, 2025 | 11:26 pm GMT+7
Foreign investors net buy for fifth consecutive session
Foreign investors' transactions on the Ho Chi Minh Stock Exchange (HoSE) continued to be a highlight as they net bought for the fifth consecutive session on Tuesday, to the tune of over VND7,679 billion ($293.88 million).
Finance - Tue, July 8, 2025 | 6:08 pm GMT+7
Northern Vietnam province opens bid for $2 bln tourism-casino complex project
Quang Ninh, a coastal province in northern Vietnam, is seeking investors for a large-scale tourism and casino complex valued at VND51.5 trillion ($2 billion) in its strategic Van Don Economic Zone.
Real Estate - Tue, July 8, 2025 | 4:37 pm GMT+7
The Investor to hold seminar on raising investor awareness towards stock market status upgrade
The Investor and its Vietnamese-language sister Nhadautu.vn will host a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on July 17.
Finance - Tue, July 8, 2025 | 4:02 pm GMT+7
Many uncertainties over exchange rates: Vietnam's central bank
There are many "unknowns" with monetary policy and exchange rates in the coming time, said Pham Chi Quang, director of the State Bank of Vietnam's (SBV) monetary policy department.
Banking - Tue, July 8, 2025 | 3:53 pm GMT+7
World's largest iron ore, nickel producer wants to expand business in Vietnam
Prime Minister Pham Minh Chinh has asked Vale Group, a multinational Brazilian corporation in the fields of metals, mining, and logistics, expand business in Vietnam.
Industries - Tue, July 8, 2025 | 1:52 pm GMT+7
Vietjet appoints new managing director
Vietjet Aviation Joint Stock Company (HOSE: VJC) has appointed Nguyen Thanh Son as its new managing director, succeeding Dinh Viet Phuong.
Companies - Tue, July 8, 2025 | 8:10 am GMT+7
First turbine rotor installed at expanded Hoa Binh hydropower plant in northern Vietnam
The rotor of the first turbine at the expanded Hoa Binh Hydropower Plant project was successfully installed on Sunday in Phu Tho province, formerly Hoa Binh province, northern Vietnam.
Companies - Tue, July 8, 2025 | 8:07 am GMT+7
Singapore heavily penalizes nine financial institutions for money laundering
The Monetary Authority of Singapore (MAS) has fined nine financial institutions SGD27.45 million ($21.55 million) for breaches related to the 2023 money laundering case involving more than SGD3 billion in assets.
Southeast Asia - Tue, July 8, 2025 | 7:58 am GMT+7
Foreign cash flows push VN-Index past 3-year peak
With positive sentiment from both domestic and foreign investors, VN-Index on Monday surpassed the 1,400 mark after more than three years. The last time the benchmark index reached this level was on April 19, 2022.
Finance - Tue, July 8, 2025 | 7:28 am GMT+7
Japan's Granja Fujikura eyes developing large-scale, high-tech agriculture in Vietnam
Granja Fujikura Group wishes to receive favorable conditions in Vietnam to develop large-scale, high-tech agriculture.
Economy - Mon, July 7, 2025 | 11:22 pm GMT+7
Vietnam's Maritime Bank plans 20% stock dividend payout
Vietnam Maritime Commercial Joint Stock Bank (MSB) plans to issue up to 520 million shares as stock dividends, equivalent to 20% of its outstanding shares at the record date.
Banking - Mon, July 7, 2025 | 5:30 pm GMT+7
Vietnam's shipping major Vinaship to pay first cash dividends after 14 years
Vinaship, a major shipping firm in Vietnam, plans to pay cash dividends for the first time in the past 14 years, at a total of approximately VND20.4 billion ($779,670).
Companies - Mon, July 7, 2025 | 4:36 pm GMT+7
Vietnam, Brazil eyes joint coffee exchange
Vietnam and Brazil will sign a food security agreement which includes plans to explore a joint coffee exchange and possibility of building a shared bilateral coffee brand.
Economy - Mon, July 7, 2025 | 4:02 pm GMT+7
Vietnamese property major Hoang Huy’s subsidiary plans new share issuance before HoSE listing
CRV Real Estate Group JSC, a member of Vietnam's major property developer Hoang Huy Group, has approved a plan to issue an additional 16.81 million shares to existing shareholders at a 40:1 ratio and the price of VND26,000 ($1) per share.
Companies - Mon, July 7, 2025 | 2:29 pm GMT+7