Most recently, a delegation from the Trump Organization held talks with municipal officials and conducted a fact-finding tour of Thu Thiem to explore a location for the proposed Trump Tower project, a complex comprising a shopping mall, luxury apartments, a five-star hotel, and office space.

Since early 2025, the southern city has welcomed numerous US businesses seeking investment opportunities and proposing new projects.

According to the Saigon Hi-Tech Park (SHTP) Management Board, the park has received more than 10 delegations from both domestic and foreign investors this year, including several from the US.

Notably, Omega has shown interest in semiconductor technologies, while Quantum Systems is exploring opportunities in biotechnology.

Several major US corporations have put forward large-scale proposals. Smart Tech Group has submitted plans to the HCM City People’s Committee for a battery storage factory covering 10 to 50 hectares, with estimated capital ranging from US$340 million to US$850 million.

In the data center sector, Evolution, a member of Warburg Pincus, has proposed a 36 MW facility valued at US$305 million, while Eaton has also expressed interest in developing a data center in the hi-tech zone.

Alongside these engagements, SHTP officials conducted an investment promotion trip to the US from May 20 to 22, introducing the city’s investment environment and incentive policies, with a focus on attracting high-tech industries.

One of the most prominent developments is the anticipated co-operation between HCM City and NVIDIA, a global leader in artificial intelligence.

Following three rounds of meetings in 2024, the two sides are finalizing a comprehensive cooperation plan, including establishing a local R&D center, AI workforce development, the Jen-Hsun Huang scholarship program, AI training initiatives, and the creation of both a high-performance computing center and a Center of Excellence for AI.

Keith Strier, Vice President of NVIDIA, said HCM City has all the necessary conditions to develop its AI sector. He noted that the Vietnam National University in the city is well-positioned to supply talent for this industry, while the city already has an ecosystem of tech and semiconductor firms capable of moving quickly into AI.

However, to fully capitalize on this wave of investment, the southern metropolis must continue to ameliorate its business environment, upgrade infrastructure, and prioritize the development of a high-quality workforce, crucial to sectors such as AI, semiconductors, and clean energy.

Professor Le Trong Thuy of San Jose State University noted the city holds several advantages over other localities in Vietnam, including a more connected transport network, a more appealing investment climate, and a more skilled workforce.

Still, he cautioned that US investors remain concerned about whether the city can consistently supply talent that meets industry standards. “If HCM City can provide professional, well-trained human resources, it stands a strong chance of becoming a top destination for semiconductor investment,” he said.

Vietnamese trade mission sounds out business opportunities in United States

VOV.VN - A delegation of nearly 50 representatives from Vietnamese agencies, businesses, and agricultural associations is travelling to the United States to seek trade promotion opportunities and boost imports of key US agricultural products from June 1 - 7.