Ho Chi Minh City leaders meet with local US firms, promise support


The city is committed to providing ideal conditions for the domestic and foreign business communities by developing infrastructure, institutional frameworks, human resources, and living environments said Phan Van Mai, chairman of HCM City's People's Committee. — Viet Nam News

HO CHI MINH CITY: The Ho Chi Minh City Investment and Trade Promotion Centre and the American Chamber of Commerce (AmCham) in Vietnam held a workshop on Tuesday to solicit US businesses’ feedback on difficulties in operating in Vietnam.

Speaking at the event, the chairman of the Ho Chi Minh City’s People’s Committee, Phan Van Mai, said the city is committed to providing ideal conditions for the domestic and foreign business communities by developing infrastructure, institutional frameworks, human resources, and living environments.

It is collecting opinions from local businesses, industry associations and economists on its foreign direct investment attraction efforts in 2023 to 2025, and aims to develop the city into a modern service-industrial hub, a frontrunner in the digital economy and an economic, financial, commercial, scientific and technological, and cultural hub in South-East Asia, he said.

He hoped US firms would share information with the city in the fields of capital market and financial services, digital economy and technology, manufacturing, supply chains and logistics, energy, healthcare and education to improve its business environment and propel growth.

The city would spell out the role of various agencies in mitigating difficulties faced by businesses, especially foreign, he said, adding that it is committed to creating a stable business environment, protecting the legitimate rights and interests of investors, and offering all possible support to US enterprises.

AmCham member companies offered feedback on various issues such as capital markets and financial services, healthcare and welfare, education, the digital economy, energy, taxation, and customs.

Greg Testerman, chairman of Amcham, had a positive outlook on Vietnam’s economic prospects and expressed his interest in sustainable finance.

He said foreign investors in Vietnam now demand higher environmental, social and governance (ESG) standards.

AmCham is committed to assisting borrowers in Vietnam to meet the necessary criteria to easily access loans from financial institutions that adhere to strict ESG standards, he said. — Viet Nam News/ANN

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