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Business Environment

Ho Chi Minh City is located in a special geographical position, converging many favorable conditions for the economic development. Since olden time, the City has been a key strategic area of the South, a dense and prosperous trade center of exchange with foreigners.

Ho Chi Minh City at A Glance - 2015

  • Area: 2,095 km2
  • Administrative structure: 24 districts
  • Population: 8,224.4 thousand, up 1.69% against 2014

 

2014

2015

1. GDP growth rate (%)

9.59

9.85

·         Agriculture-Forestry-Fisheries (%)

5.90

5.87

·         Industry and Construction (%)

7.19

8.07

·         Services (%)

11.31

11.11

2. Index of Industrial Production (IIP) %

7.0

7.9

3. Exports (million US$)

 

30,588.2

·         Export growth rate (%)

8.8

-2.4

4. Imports (million US$)

 

33,752.3

·         Import growth rate (%)

 

9.4

5. Foreign investment (million US$)

2,842.8

2,810.3

6. State revenue (billion VN$)

255,020

280,767

7. State expenditure (billion VN$)

43,986

59,735

 

Top trading partners of Ho Chi Minh City in 2015

 

Export

Import

Value (billion USD)

Share (%)

Compared to 2014 (%)

Value (billion USD)

Share (%)

Compared to 2014 (%)

Total

27,274.9

100.0

93.5

29,449.8

100.0

114.9

United States                                   

4,960.6

18.2

111.8

1,327.7

4.5

97.7

China

3,928.0

14.4

110.3

6,487.3

22.0

126.7

Japan 

3.087.6

11.3

73.2

2,194.9

7.5

124,2

Malaysia

1,366.4

5.0

86.2

1,429.8

4.9

120.8

Hong Kong                                      

1,220.1

4.5

153.4

1,541.5

5.2

111.7

South Korea                                    

1,142.5

4.2

66.1

2,005.0

6.8

110.5

Singapore 

1,098.2

4.0

97.8

2,660.3

9.0

71.9

Germany

964.6

3.5

115.2

765.6

2.6

116.1

Australia 

854.9

3.1

38.7

334.5

1.1

117.4

Netherlands                                        

766.0

2.8

179.0

304.1

1.0

102.7

United Kingdom                                 

648.9

2.4

116.5

226.9

0.8

123.9

Philippines

589.3

2.2

80.3

153.4

0.5

195.6

Thailand 

572.5

2.1

66.1

1,877.0

6.4

131.3

Indonesia                                            

464.5

1.7

106.4

629.3

2.1

137.2

France

422.1

1.5

102.0

327.5

1.1

117.9

Taiwan 

397.8

1.5

47.7

1,591.7

5.4

90.7

Cambodia      

364.9

1.3

169.7

45.1

0.2

118.7

Italy  

290.7

1.1

107.4

278.7

0.9

107.8

Belgium 

285.4

1.0

104.6

338.6

1.1

229.9

India                                                   

284.6

1.0

108.6

549.6

1.9

109.2

Canada  

281.6

1.0

120.8

154.2

0.5

158.1

Spain                                                  

275.3

1.0

99.3

153.4

0.5

235.5

Russia                                                 

151.1

0.6

80.4

94.1

0.3

93.4

Switzerland

32.4

0.1

34.5

90.4

0.3

66.4

 

Top exported commodities of Ho Chi Minh City in 2015

No

 

2015 (million USD)

Change vs 2014 (%)

1

Textiles and garments

5,297.0

101.9

2

Computers, electrical products, spare parts and components thereof

4,580.8

159

3

Footwear

2,484.5

107.7

4

Rice

1,179.8

90.6

5

Fishery products

682.4

89.2

6

Rubber

613.6

93.2

7

Bags, pockets, wallets, suitcases, hats and umbrellas

458.8

98.5

8

Wood and wooden products

455.9

88.3

9

Coffee

544.1

73.4

10

Pepper

525.4

100

 

Top imported commodities of Ho Chi Minh City in 2015

No

 

2015 (million USD)

Change vs 2014 (%)

1

Computers, electrical products, parts and components thereof

4,728.8

145.5

2

Fabrics

2,405.4

104.1

3

Plastic materials

1,537.6

94.8

4

Iron and steel

1,382

85.5

5

Pharmaceutical products

1,261.4

122.7

6

Chemical products

906

99.9

7

Textile, garment and footwear materials

837.7

103.3

8

Petroleum products

612

119.8

9

Chemicals

575.6

99.9

10

Paper

492

100.1

 

Foreign direct investment in Ho Chi Minh City - 2015

Form of investment

Number of projects

Registered capital (million US$)

100% foreign capital

455

1.244,1

Joint venture

98

1.560,3

Contractual business

2

5,9

Total foreign investment

555

2.810,3

 

Top investors in Ho Chi Minh City - 2015

No

 

Number of projects

Investment capital (million USD)

1

United Kingdom

10

1,202.6

2

S. Korea

120

465.1

3

British Virgin Islands

25

370.3

4

Singapore

83

140.8

5

United States

23

135.1

6

Japan

96

65.9

7

Hong Kong

24

51.6

8

Seychelles

1

50

9

China

22

34.4

10

Taiwan

16

6.7

 

Foreign direct investment by industry - 2015

Industry

Number of projects

Registered capital (million US$)

Industrial manufacturing

63

767,4

Construction

31

67,3

Commerce

165

167,3

Science-Technology

125

169,4

Real estate

13

1.497,6

ICT

86

32,1

Transport, logistics...

30

25,8

 Source: Statistics Office of Ho Chi Minh City

An Economic Hub of the Nation

  • The 9-million-people City is the biggest economic center of Vietnam
  • Center of the Southern Key Economic Zone (50% of the country’s GDP, and 60% of the country’s FDI)
  • Contributing 20% of the country’s GDP
  • 100,000 companies (30% of Vietnam) registered in Ho Chi Minh City.
  • The best infrastructure:
    • Tan Son Nhat Airport: the biggest airport of the country, connect to 20 countries, 12.5 million passengers in 2008
    • Saigon Ports: the biggest port system of the country, 54.2 million tons in 2008
    • 1 high tech park, 2 software parks, 3 export processing zones, and 12 industrial parks
  • First stock market, 47 foreign bank branches
  • 3,000 foreign representative offices from 60 countries
  • 41 universities, 29 colleges and 34 professional secondary with 500,000 students
Business-friendly Government
  • One stop shops for investors: DPI, ITPC
  • E-government:
    • Business registration on line
    • Dialog On-line: 42 government authorities responsible for answering any enquiry from businesses within 5 working days
  • Reduction of procedures waiting time.
  • Face-to-face meetings with foreign investors, business consultants and attorneys regularly and per request.

Ho Chi Minh City by 2020

  • Government target: HCMC will turn into a 10-million population metropolitan characterized by hi-tech industries, high end services and scientific - technological research facilities catching up regional level
  • GDP/capita US 6,000; economic structure : 60.4 % service, 39.2 % industry
  • Housing demand: from 11.5 m2/person currently to 17 m2/person by 2020
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