HCM City welcomes new wave of US investments

The recent influx of US businesses actively pursuing investment opportunities in Ho Chi Minh City signals a growing wave of high-tech investment flowing into Vietnam’s economic powerhouse.

US enterprises propose a series of projects

A high-level delegation from the US’s Trump Organization recently met with the city’s leaders and conducted a fact-finding tour to the Thu Thiem area to identify a suitable location for the proposed Trump Tower project - a complex consisting of a shopping center, luxury apartments, a five-star hotel, and offices for lease.

Since the beginning of 2025, HCM City has welcomed and held working sessions with numerous US companies coming to seek investment opportunities and propose projects. According to the Management Board of the Saigon Hi-Tech Park (SHTP), over 10 delegations of domestic and foreign investors, many of them from the US, have visited the park so far this year. Notably, Omega is interested in the semiconductor sector, while Quantum Systems is exploring opportunities in biotechnology.

Recently, numerous US enterprises have proactively proposed large-scale projects in the city. For instance, Smart Tech Group has submitted a proposal to the municipal People's Committee to invest in a battery production plant for power storage on an area ranging from 10 to 50 hectares, with a total estimated investment of 340 to 850 million USD. The company hopes to launch the project in 2025 or as soon as land is allocated, cited VNA.

An overview of Intel Factory in Ho Chi Minh City's Saigon High-Tech Park (Source: baodautu.vn)

Notably, the data center sector, the SHTP has become a focal point for US technology firms. Evolution Group, a subsidiary of investment fund Warburg Pincus, has proposed a 36 MW data center project with a total investment of approximately 305 million USD. Meanwhile, Eaton Corporation has also submitted a proposal to the municipal People's Committee to develop a data center at the park.

In addition to receiving visiting delegations, from May 20 to 22, the SHTP Management Board conducted investment promotion activities in the US to introduce the city’s investment environment and incentives, particularly targeting potential investors in high-tech sectors.

A “golden” opportunity, but readiness needed

In the wave of US business investment into HCM City, the presence of NVIDIA - a global giant in the artificial intelligence (AI) industry - is particularly noteworthy. Following three rounds of meetings with the city in 2024, both sides are now finalising a comprehensive cooperation plan. Key areas include the establishment of an R&D center branch in the city; AI workforce development; implementation of the Jen-Hsun Huang Scholarship Program; AI training programs; and the construction of a high-performance computing center and a Center of Excellence (CoE) for AI.

According to the municipal Department of Science and Technology, the official signing of the cooperation agreement between HCM City and NVIDIA is expected to take place in early June, with the attendance of senior representatives from NVIDIA.

The continuous influx of investment proposals from US technology corporations is a positive signal, demonstrating HCM City’s strong appeal to high-quality capital, especially in technology and real estate sectors. However, to fully capture this new wave of investment, the city needs to continue improving the investment environment, upgrading infrastructure quality, and particularly enhancing the training of high-quality human resources - a key factor for advanced technology industries such as AI, semiconductors, and clean energy.

Through discussions with US investors, Professor Le Trong Thuy, Department Chair of Electrical Engineering Department at the US’s San Jose State University, noted that compared to many other localities in Vietnam, HCM City has greater advantages in terms of a specialized workforce, convenient transportation infrastructure, and a better investment environment.

Nevertheless, the ability to supply human resources meeting required standards remains a concern for US companies, Thuy said, adding that if HCM City can provide well-structured and professional training for its workforce to meet enterprise demands, it is highly likely that US investors will choose the city as their destination for investment in the semiconductor industry.

UNESCO honors Lang Son Geopark of Vietnam with global title

The United Nations Educational, Scientific and Cultural Organisation (UNESCO) held a ceremony to present certificates of recognition to newly designated UNESCO Global Geoparks, including Lang Son Geopark of Vietnam, at its headquarters in Paris on June 2.

It is the fourth UNESCO Global Geopark in Vietnam, after Dong Van Karst Plateau (recognized in 2010), Non Nuoc Cao Bang Geopark in 2018 and Dak Nong Geopark in 2020.

Lang Son Geopark was voted as a UNESCO Global Geopark during the 8th Asia–Pacific Geoparks Network Symposium in Cao Bang province, Vietnam, last September. The designation was approved by the UNESCO Global Geoparks Council after a thorough evaluation of the site's geological significance, conservation efforts, and community involvement.

The geopark covers 4,842.58 km², spanning 8 administrative units and accounting for 58% of the province's area and 78% of its population. It preserves important geological evidence of Earth's history over hundreds of millions of years, including records of ancient seas, volcanic activity, and ecosystem development.

The geopark features archaeological sites with traces of human presence dating back 30,000 to 470,000 years, showcasing the deep-rooted human history of the area, VOV reported.

At the Certification Presentation Ceremony in Paris on June 2. (Photo: VNA)

It is home to Tay and Nung ethnic communities with rich traditions. It also hosts landmarks like Bac Le Temple, a key site in the Mother Goddess worship practice, which is inscribed by UNESCO as Intangible Cultural Heritage of Humanity.

With around 200 caves and scenic waterfalls, Lang Son Geopark has strong potential for eco-tourism and adventure tourism development.

The designation of Lang Son Geopark as a UNESCO Global Geopark not only affirms its unique geological and cultural values but also offers new opportunities for sustainable tourism development, heritage conservation, and international cooperation

It is a major milestone that boosts Lang Son's visibility on the global tourism map and contributes to Vietnam's reputation for natural and cultural richness.

Deputy Prime Minister attends Nikkei Forum 30th Future of Asia

Deputy Prime Minister Nguyen Chi Dung called on Asian nations to pioneer the "renewal" of multilateral cooperation mechanisms and strengthen the free trade system based on the principle of “win-win".

Nguyen made that suggestion while addressing the Nikkei Forum 30th Future of Asia that took place in Tokyo, Japan, on May 30.

The Vietnamese official urged Asian nations to take the lead in promoting the development of science, technology, digital transformation, and innovation while enhancing inclusive development, placing people at the center, as the goal, the driving force, and the main actor of all policies.

Asian countries should lead in shaping new economic models, especially green transition and digital transformation and strengthening solidarity, cooperation, and mutual respect, he noted.

The Vietnamese official held that after nearly 40 years of implementing the Doi Moi (Renovation) policy, Vietnam has achieved remarkable and historically significant accomplishments, according to VGP.

Deputy Prime Minister Nguyen Chi Dung delivers his remarks at the Nikkei Forum 30th Future of Asia, Tokyo, Japan, May 30, 2025. Photo: VGP

From an underdeveloped and backward economy, the nation has risen to become the 32nd largest economy in the world and ranked among the top 20 countries in terms of trade volume and foreign direct investment (FDI) attraction, reiterated the Deputy Prime Minister.

In 2024, the country's GDP per capita reached US$4,700, approaching the threshold of upper-middle-income status, he said.

Japan is a top important partner and a sincere and trustworthy friend of Vietnam, said the Deputy Prime Minister, expressing his hope for receiving strong support, close cooperation, and effective companionship from Japan for Vietnam to achieve its development goals and advance into a new era of national growth.

All nations should join hands in solidarity and work together with unity and determination to overcome challenges for the sake of peace, cooperation, and shared prosperity in the region and around the world, suggested Nguyen.

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