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.