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Ho Chi Minh City has been making waves with its recent bold reforms, aimed at creating a more attractive investment environment. One key initiative, reintroduced in 2024, is the one-stop mechanism at industrial and high-tech parks, designed to streamline investment procedures for businesses.
This efficient approach has paid off, according to the Management Board of the Saigon Hi-Tech Park (SHTP). They report a significant reduction in the time needed for investment procedures, now taking just six to four months, a far cry from the previous two-year wait.
Alongside procedural improvements, the city is also investing heavily in inter-regional transport and digital infrastructure, further enhancing its appeal.
These advancements have not gone unnoticed by high-tech giants. NVIDIA, Marvell, Hyosung, and Evolution Data Centers Group are among those increasing their investments in Ho Chi Minh City. NVIDIA, in particular, has shown great interest in the city’s potential, sending regular delegations and holding working sessions with local leaders.
NVIDIA’s Vice President, Keith Strier, highlighted the city’s strength in its vast pool of IT engineers, approximately one million strong. This, coupled with the enhanced training capacity of Ho Chi Minh City National University, ensures a robust talent pipeline for the AI sector.
Ho Chi Minh City also boasts a thriving ecosystem of IT and semiconductor companies, well-positioned to integrate and support the rapidly growing AI industry.
Foreign direct investment (FDI) in the city for the first quarter of the year reached US$567.2 million, reflecting a 23.4% increase year-on-year. With nearly US$59.1 billion in capital across 13,875 valid projects, Ho Chi Minh City remains the top choice for foreign investors in Vietnam.
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