Ho Chi Minh City attracts over $3.8bn foreign investment in five months

According to Ho Chi Minh City Department of Finance, capital contributions, share acquisitions, and stake purchases accounted for the largest share of inflows at $2.33 billion.

Of the total, 783 new foreign-invested projects were licensed with combined registered capital of more than $1.09 billion, while 107 existing projects received additional capital injections worth $430.2 million.

Capital contributions, share purchases, and acquisitions of equity stakes continued to account for a significant proportion of the city's foreign investment inflows. During the first five months, there were 747 transactions involving foreign investors acquiring stakes in domestic enterprises, with total registered capital reaching more than $2.3 billion.

According to the department, several notable capital contribution and share acquisition transactions were recorded during the period. Among them, Indonesian investor Haryanto Sudarno Kusuma registered a capital contribution of more than $1.7 billion into VLD Investment and Finance JSC.

In addition, Momogi Group Vietnam Co., Ltd. registered a capital contribution of more than $64.3 million into Bibica Capital Co., Ltd. Meanwhile, Zeit Elevator Co., Ltd. invested more than $41.4 million in VGSI Elevator Co., Ltd.

Another notable transaction involved Kredivo Vietnam JSC, which registered a capital contribution of nearly $34.4 million into Timo Vietnam JSC. At the same time, Chinese investors Zhang Shuting and Yang Chao registered capital contributions totalling more than $20.2 million in HongYI Vietnam International Co., Ltd.

According to data from Grant Thornton Vietnam, alongside newly licensed foreign-invested projects, the merger and acquisition market in Ho Chi Minh City and neighbouring localities continued to witness a number of significant transactions across sectors such as energy, logistics, healthcare, manufacturing, and tourism.

For example, in the healthcare sector, Dawn Medical Technologies, a medical technology commercialisation platform within the ecosystem of CBC Group, completed the acquisition of a controlling stake in Pinnacle Health.

Founded in 2015, Pinnacle Health has grown into one of Vietnam’s leading medical equipment distributors, offering integrated solutions spanning sales, marketing, and regulatory compliance support. The transaction marks CBC Group’s first expansion into the Southeast Asian medical technology market. The deal value was not disclosed.

In the logistics and infrastructure sector, CJ Logistics Hong Kong Holdings Limited signed an agreement to acquire the remaining 49.1 per cent stake in Gemadept Logistics Holding Co. Ltd. from Gemadept Corporation. Upon completion of the transaction, CJ Logistics Hong Kong Holdings Limited will increase its ownership to 100 per cent, transforming the company from a joint venture into a wholly owned subsidiary.

The move is expected to strengthen the group’s control over its Vietnamese operations and fully integrate the platform into its regional logistics network. The value of the transaction was not disclosed.

Meanwhile, in the manufacturing sector, Norwegian development finance institution Norfund invested $4 million in equity into Circular Plastics Vietnam through its Singapore-based parent company, Circular Plastics International, to support the expansion of a recycling facility in southern Vietnam.

The investment will help increase annual production capacity to 31,000 tonnes of PET flakes and 14,000 tonnes of food-grade recycled PET pellets, serving both the domestic market and export destinations in Europe.

Established in 2019 and operating in Vietnam since 2023, Circular Plastics Vietnam specialises in plastic recycling based on circular economy principles. Norfund, owned by the Norwegian government, focuses on making long-term investments in sustainable businesses across emerging markets.

In the tourism and hospitality sector, Suchad Chiaranussati, founder of Singapore-based SC Capital Partners, recently completed the acquisition of Serenity Holding Co., Ltd., the entity that directly operates the premium hospitality brand Fusion Hotel Group in Vietnam.

The transaction was completed in March, with the deal value remaining undisclosed.

The acquisition marks an important milestone in Fusion’s next phase of expansion, leveraging SC Capital Partners’ investment management platform and extensive industry expertise. Under the development plan, Fusion’s hospitality portfolio will be integrated with two other brands, HMJ (Japan) and Topotels (Indonesia).

The strategic alliance is expected to manage a portfolio of approximately 16,000 rooms across four key growth markets in Asia, supported by a team of more than 100 hospitality management professionals.

Ho Chi Minh City has set a target of attracting $11 billion in foreign direct investment (FDI) for the whole year. To achieve this goal, the city will continue to closely monitor and accelerate the implementation of key projects, particularly large-scale projects with significant capital commitments.

Priority will also be given to further administrative reforms, streamlining investment procedures, and enhancing coordination among relevant authorities and agencies to improve the overall investment environment and facilitate project execution.

Ho Chi Minh City at pivotal development stage Ho Chi Minh City is entering a pivotal stage of development, with institutional reforms, greater decentralisation and delegation of authority – and the ambition to establish Vietnam International Financial Centre – creating new opportunities and fresh challenges for the business community.

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