LOCALITIES REPORT BREAKTHROUGH RESULTS IN FDI IN FIRST NINE MONTHS

Many localities surpassed FDI full-year targets in just nine months thanks to administrative reforms and strong investment promotion.

Localities report breakthrough results in FDI after nine months. Photo: Piaggio Vietnam

After the first nine months, many localities across the country reported breakthrough foreign direct investment (FDI) results that exceeded targets.

In Ho Chi Minh City, total registered capital reached $17.2 billion in the first nine months, up 4.2 times from the same period last year. The figure included more than $9.35 billion in newly registered capital and over $4.9 billion in additional capital for existing projects. Foreign investors also registered more than $2.9 billion through capital contributions and share purchases.

One of the most notable projects is a $2.1 billion FDI data centre project at Tan Phu Trung Industrial Park, aimed at developing high-performance computing infrastructure for AI and big-data processing. Meanwhile, the Vinh Lap Industrial Park Phase 1 project was approved by Ho Chi Minh City People’s Committee, including approval of the investor. The project covers an area of 497 hectares with registered capital of $379.69 million.

Thai Nguyen province continued to make its mark by attracting nearly $8 billion in 24 newly registered and additional-capital projects, resulting in an average capital of $333.2 million per project - the highest level among cities and provinces nationwide.

Other localities, namely Phu Tho, Bac Ninh, Quang Ninh, Thanh Hoa, Nghe An, and Danang, also surpassed their 2026 FDI attraction goals after only the first three quarters of the year.

“The breakthrough results come from efforts in both on-site and overseas investment promotion activities. Provincial leaders have set up hotlines to receive information 24/7 regarding pending issues and licensing procedures. As a result, many foreign investors received their investment certificates within 24 hours,” said Chu Van Khanh, director of the Investment Consulting and Promotion Centre under Thai Nguyen Department of Finance.

“The second highlight is the reduction of administrative procedures. In the first nine months, the province reduced and cut 60 per cent of procedures, higher than the national average of 30 per cent. In addition, officials worked overtime to support investors,” he said.

Danang has also made efforts to support investors seeking investment opportunities in the city.

“At Danang Investment Promotion Centre, we have the slogan ‘One Stop, One Service,’ meaning that we act as an intermediary party to work with the people’s committee, departments, and relevant agencies to find solutions for investors’ pending issues. Investors then receive the results at the centre’s office,” said Tran Quoc An, deputy director of the Danang Investment Promotion Agency. “We are developing an AI-integrated database that includes data on both foreign and domestic investors. The system will collect and analyse information on these entities and automatically connect them with one another. In addition, the city is completing logistics infrastructure and training programmes to meet the stricter requirements of investors.”

Along with investment promotion and administrative procedure reduction, Danang Department of Science and Technology is seeking feedback on a draft resolution outlining support for key digital technology projects, semiconductor investments, AI data centres, and chip design companies.

Building on these achievements, localities will continue promoting new projects while accelerating follow-up procedures and focusing on resolving obstacles for already licensed projects, to create further breakthroughs in the fourth quarter and for the whole year.

Quang Ninh city is a case in point. It has identified several tasks for the remaining months of the year, including accelerating revenue collection from import and export activities, land clearance, handling slow-moving projects, and disbursing certain capital sources.

In the fourth quarter, the city will launch a high-intensity emulation campaign titled “90 days and nights of intense effort,” focusing on completing key tasks such as supporting businesses, accelerating project progress, and boosting industrial production, trade, services, tourism, import-export, and logistics. Simultaneously, Quang Ninh will continue to boost digital transformation and innovation, efficiently exploit land and natural resources, and prepare new key projects.

Meanwhile, Ho Chi Minh City is focusing on improving the investment and business environment, accelerating administrative procedure reforms, and developing policies to attract, encourage, and support investors.

“After the Urban Development Law took effect on October 1, the city has been developing policies to engage, encourage, and support investors, including preferential policies to draw foreign investors into sectors consistent with the city’s development orientation. In addition, the city is focusing on developing infrastructure and preparing the necessary conditions regarding location and planning so that investors can quickly implement projects when needed,” said Quach Ngoc Tuan, deputy director of Ho Chi Minh City Department of Finance.

At the same time, Ho Chi Minh City Department of Finance continues to coordinate with departments, agencies, management boards, and localities to monitor and expedite the processing of dossiers for key projects, while supporting existing investors in expanding their operations and resolving difficulties related to investment procedures and project implementation conditions.

Along with attracting new projects, Ho Chi Minh City is also focusing on project implementation progress, disbursement, and operation, as well as increasing linkages between foreign-invested and domestic enterprises in the supply of goods and services and human resource training.

Source: VIR