HCM City hosts seminar on attracting foreign investment

More than 200 foreign invested businesses gathered at a seminar on solutions to improve the investment environment in Ho Chi Minh City on April 26.

Over the past 20 years Ho Chi Minh City has led the country in foreign investment thanks to its policies to improve the investment environment. The city now has nearly 3,670 foreign direct investment (FDI) projects, mainly in trade, services, industrial processing and construction, with a total capital of nearly US$30 billion. It has restructured its economy significantly through FDI attraction and gained advanced technologies, learnt modern management methods and generated hundreds of jobs for local people.

Participants said that the city’s investment environment is currently quite good and a series of FDI projects have been implemented recently. They proposed some measures to further improve the environment including dealing with cumbersome administrative procedures, inadequate infrastructure, weak human resources and increasing social evils, which are barriers to foreign businesses that want to invest in the city.

Han Jae Jin, chairman of the Committee on Foreign Affairs of the Korean Chamber of Commerce and Industry, said Vietnam is the most attractive destination for investors from the Republic of Korea and more than 110,000 Koreans are currently working and studying in Vietnam. Vietnam should create a better business environment and pay more attention to improving human resources, logistical infrastructure and administrative procedures.

Vice Chairman of the Ho Chi Minh City People’s Committee, Nguyen Trung Tin, praised the foreign investors’ proposals and said the city will focus on key measures to attract more FDI projects such as improving the environment to attract capital for development, promoting investment in key fields, simplifying administrative procedures and calling on investment through build-operate-transfer (BOT), build-transfer (BT) and Public-Private Partnership (PPP) infrastructure projects. – VOV

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment

Posted by VBN on Apr 27 2011. Filed under Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry