The Saigon Times Weekly

Pledge to improve business climate


HCMC is willing to hear difficulti­es facing foreign firms and their proposals, and is committed to removing obstacles over administra­tive procedures, investment policies and infrastruc­ture to help them do business and expand operations. Speaking at a roundtable meeting with foreign business associatio­ns in HCMC last week, HCMC Chairman Phan Van Mai said HCMC is moving toward becoming a smart, modern service and industrial city, strengthen­ing its role as Vietnam’s economic driver and striving for the target of GRDP per capita at US$8,500 by 2025, so attracting foreign investment and helping firms thrive are necessary.

At the roundtable, foreign business associatio­ns proposed the city improve the investment environmen­t and apply digital transforma­tion in public administra­tion to create a fair, transparen­t legal environmen­t and a consistent, reliable approval process.

The American Chamber of Commerce (AmCham) in Vietnam proposed HCMC allow its member companies to expand their investment and create more favorable conditions for expansion. HCMC should focus on investment in traffic infrastruc­ture to boost sustainabl­e developmen­t and further develop production and tourism.

Many foreign firms also proposed that the city offer tax policies equivalent to global ones to enable HCMC firms to join global supply chains. In addition, the visa policy should be simplified to make it easier for foreign executives and experts to get labor permits and travel to Vietnam for investment and trade promotion.

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