Ho Chi Minh City seeks South Korean investment in major projects

The city on November 5 held its 2026 Dialogue Conference between the city's leadership and South Korean businesses, introducing more than 200 key projects seeking investment to the South Korean business community. According to Pham Quang Nhat, director of the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), four groups among them align with the strengths of South Korean companies.

The first group covers electronics, semiconductors, and high technology at the Saigon Hi-Tech Park (SHTP). It includes projects for an electronics and semiconductor research, development, and training centre covering approximately 0.95 hectares; an electronic components and semiconductor manufacturing plant spanning around 0.52ha; and an innovation centre for biotechnology research and training of roughly 0.89ha.

The second group focuses on the development of next-generation industrial parks (IP) and supporting industries, with available land at Lai Hung IP (600ha) and Binh Duong Riverside IP (600ha), both oriented towards science and technology, chips and semiconductors. It also includes Pham Van Hai I IP (379ha), which prioritises high technology, and Pham Van Hai II IP (289ha), which focuses on precision engineering, machinery manufacturing and automation.

The third group covers urban transport infrastructure under the public-private partnership model, transit-oriented development, and seaport development.

Notable projects include Metro Line No.2 connecting Thu Dau Mot and Ho Chi Minh City (38.9km); the Thu Thiem–Long Thanh line (41.8km); and Metro Line No. 6 along the Inner Ring Road (53.8km) and connecting Tan Son Nhat International Airport with Long Thanh International Airport.

The portfolio also includes Long Son General Port which will be capable of accommodating vessels of up to 100,000 tonnes.

The fourth group focuses on urban development, housing and services for professionals and workers. Key projects include Go Gang Urban Area; Tan An 1B New Urban Area; Cu Lao Ben Dinh New Urban Area; Binh My Urban Area, and Saigon Safari Ecotourism Park.

“Thanks to the expanded development space, incorporating the former Binh Duong and Ba Ria-Vung Tau provinces, Ho Chi Minh City attracted $17.8 billion in foreign investment in the first nine months, against an annual target of $11 billion. This represented 162.4 per cent of the annual target and was 4.2 times higher than the figure recorded in the same period of 2025,” Nhat said.

Nguyen Cong Vinh, Vice Chairman of Ho Chi Minh City People’s Committee. Photo: ITPC

Speaking at the conference, Nguyen Cong Vinh, Vice Chairman of Ho Chi Minh City People’s Committee, emphasised that the city is home to the country’s largest Korean community, with many Korean nationals living, working and studying there, as well as more than 4,500 South Korean businesses operating in the city.

“To realise its goal of achieving double-digit economic growth and becoming a modern, world-class megacity in the region, the city is making full use of the institutional leverage provided by the Law on Urban Development, which took effect on October 1,” Vinh said.

The law grants the city expanded autonomy in organisational structure, finance, planning and investment attraction, including a regulatory sandbox mechanism for new technologies, products, and services. This is expected to provide a favourable legal framework for attracting strategic investment into semiconductors, AI, the digital economy, green transformation, clean energy, and the international financial centre, he added.

Jung Jung Tae, consul general of the Republic of Korea in Ho Chi Minh City, highly appreciated the city authorities and relevant agencies for their support and cooperation in fostering the development of the South Korean business community.

“Alongside attracting new investment, supporting existing businesses to ensure they can continue operating with confidence and expand their production activities is the most compelling message we can send to potential investors. This will also help drive the city towards its goal of achieving double-digit economic growth,” Tae said.

As of September 30, South Korea ranked first among 152 countries and territories in terms of the number of investment projects in Ho Chi Minh City, with more than 3,400 projects, and second in terms of registered investment capital, at more than $15.8 billion, according to ITPC.

South Korean investors at the 2026 Dialogue Conference in Ho Chi Minh City. Photo: ITPC

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