HCMC Offers Best Conditions to Attract Investment

Ho Chi Minh City has always given priority to investment attraction for hi-tech industries or high-quality products, etc. in recent years. To attract more investment capital, the largest economic centre of Vietnam should focus on reforming administrative procedures and improving the quality of human resources, said specialists attending a recent seminar on “Reviews and solutions to HCM City investment environment.”

 

Mr Nguyen Trung Chinh, Vice Chair of HCM City, said: "In the past years, HCM City’s economy has been intensively restructured and this proved that the city’s investment attraction has achieved optimistic results and investment projects are more selective. In the coming time, the city will foster human resource training, improve infrastructure system, traffic networks and administrative procedures to create a more favourable investment climate to attract investors and connect [components of] the southern key economic zone.”

 

Mr Chistopher, Vice President of European Chamber of Commerce in Vietnam (Eurocham), said many European companies expressed their keen interests in HCM City because it is a very good investment environment. The city is the economic and export centre of Vietnam.

 

Participants at the seminar spoke high of the city’s social and economic development as well as its investment environment in recent years and expressed belief that the development will be stronger in the future. However, they also urged the city to give more emphasis to scientific and technological development and legal basis.

 

Besides, foreign business associations, Vietnamese enterprises and businesspeople reflected bureaucracy in administrative procedures, investment procedures and tax incentives, complex customs procedures, time-consuming import and export clearance, insufficient infrastructure, human resources, insufficient electricity, or expensive electricity, etc. If these clogs are solved, HCM City will be a star in investment attraction.