The southern economic hub of Ho Chi Minh City attracted more 4.69 billion USD in foreign direct investment (FDI) in the first seven months of 2018, a year-on-year rise of 70.5 percent.
A corner of Ho Chi Minh City (Photo: VNA)
According to the municipal Department of Planning and Investment,
the city granted new investment licenses to 553 projects worth 508.25 million
USD in the period under review. Besides, it also allowed 148 existing projects
to increase capital by 453.38 million USD, a respective year-on-year increase
of 27.6 percent and 13.3 percent.
Local authorities also approved 1,628 foreign investors to carry out procedures
to contribute capital, purchase shares, and buy back capital of 3.73 billion
USD contributed by domestic enterprises.
The Republic of Korea made up the lion’s share of foreign investment in HMC
City with 30 percent, followed by Singapore (22 percent), Norway (13.8
percent), and Japan (10.4 percent).
Investment was mainly poured into real estate (47.6 percent), science and
technology (19.5 percent), wholesale and retail and repair of automobiles,
motorcycles and other vehicles (8.1 percent), processing and manufacturing
industry (7.7 percent), accommodation and catering services (4.2 percent).
In the January-July period, the city granted establishment licenses to 24,303
new domestic businesses with a total registered capital of 315 trillion VND
(13.4 million USD), an annual rise of 5.8 percent and 6 percent respectively.
Source: VNA
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
