A view of HCM City seen from the Sài Gòn River. — VNA/VNS Photo Hồng Đạt

HCM CITY — Following the official announcement of its administrative restructuring, HCM City has entered a new phase of development, further solidifying its position as a dynamic and attractive destination for high-quality investment.

Foreign business associations in Việt Nam have expressed strong support for the new mega-urban model, affirming their readiness to accompany the city on its path of transformation.

The American Chamber of Commerce in Vietnam (AmCham), one of the country’s largest business organisations, currently represents over 550 corporate members and more than 2,000 business representatives.

Travis Mitchell, executive director of AmCham Vietnam in HCM City, said the city's administrative restructuring “presents a unique opportunity for significant potential of development and investment.”

He said the American business community has high expectations for a more streamlined and responsive administrative system, along with simplified tax and customs procedures, which would help optimise exports, enhance operational efficiency, and reduce costs.

Improved port infrastructure and logistics connectivity are also anticipated to strengthen supply chains - a key factor in improving overall competitiveness.

“The new HCM City would foster a more transparent, business-friendly environment, helping to boost partnerships, enhance regional cooperation, and create long-term value for all stakeholders," he said.

Similarly, Thibaut Giroux, president of the French Chamber of Commerce and Industry in Vietnam (CCIFV), said many CCIFV members are engaged in sectors aligned with the city’s development priorities.

In healthcare, companies like Sanofi and Biocodex are investing in local production and improving access to medical services.

In the infrastructure and industrial services sectors, Aden Services and Idec Group Asia are contributing to the modernisation of manufacturing facilities and complex asset management.

Artelia is supporting sustainable planning and urban mobility, further aligning with the city’s growth strategy.

Giroux proposed organising business missions to France to explore new opportunities and suggested encouraging more on-site visits to Việt Nam, particularly to emerging destinations such as Côn Đảo, which is envisioned as a major tourism hub.

Long-term commitment

British businesses have also shown keen interest in the evolving development landscape of HCM City.

According to Consul General Alexandra Smith, UK firms are contributing in a range of critical sectors.

“AstraZeneca has pledged US$360 million by 2030, while GSK, Reckitt and TPP are expanding healthcare solutions,” she said.

British expertise is also playing a role in offshore wind planning, green finance, and net-zero strategies.

Financial institutions such as HSBC, Standard Chartered and Prudential are promoting sustainable finance and inclusive growth.

As demand for UK-standard education continues to rise, institutions including British University Vietnam, Oxford University Press, the Association of Chartered Certified Accountants (ACCA), and the Institute of Chartered Accountants in England and Wales (ICAEW) are expanding operations in Việt Nam.

Popular British consumer brands such as Dyson, Jo Malone and Mini Cooper are gaining traction among Vietnamese consumers.

In addition, UK firms are increasingly involved in major infrastructure projects, offering legal, design, and consulting expertise.

The UK Government’s recently launched 10-year modern industrial strategy highlights innovation and global investment.

“Seven out of eight priority sectors in the UK’s strategy are already present and thriving in UK–Vietnam trade relations,” she said.

The UK Export Finance (UKEF) agency has also earmarked up to £5 billion (nearly US$6.86 billion) to support projects in Việt Nam, particularly in energy, infrastructure, and transport - with a strong focus on the southern economic hub.

The HCM City People's Committee chairman Nguyễn Văn Được (right) receives Kume Kunihide, newly appointed chairman of the Japanese Business Association in HCM City. — Photo www.sggp.org.vn

Supporting infrastructure, community development

Japan remains one of the city’s most active and long-standing partners.

As of June 2025, the Japanese Business Association of HCM City (JCCH) - the third largest globally after those in Shanghai and Bangkok - has 1,077 member companies.

By the end of 2024, Japan ranked third among 127 countries and territories investing in HCM City, with total capital of $8.53 billion. That year alone, Japan was the second-largest investor, initiating 103 projects worth $87.5 million.

Major Japanese-funded initiatives include Metro Line No.1, Chợ Rẫy Hospital, and environmental improvements in the Tàu Hủ - Bến Nghé and Đôi - Tẻ canal systems, all of which contribute to sustainable urban development.

Beyond economic cooperation, JCCH continues to support social programmes such as waste collection campaigns, cultural exchanges with Vietnamese students, and charity visits to welfare centres.

Kume Kunihide, chairman of JCCH, said: “Việt Nam’s historic merger would be expected to contribute to enhancing administrative efficiency and policy implementation, fostering sustainable economic growth in the southern region, and improving people's livelihoods.”

This also contributes to further strengthening the comprehensive strategic partnership between Vietnam and Japan. — VNS