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Ho Chi Minh City welcomes initiatives from FDI firms

by NDO24 March 2019 Last updated at 08:39 AM

Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan meets FDI firms at the event
Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan meets FDI firms at the event

VTV.vn - Ho Chi Minh City will receive ideas from foreign direct investment (FDI) enterprises while improving its legal and policy framework to create a favourable and sustainable investment environment.

Politburo member and Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan made the remarks while chairing a meeting between the leaders of the city and FDI enterprises on March 23.

The event attracted the participation of 25 business associations and foreign organisations, in addition to nearly 200 FDI enterprises thatare operating in Ho Chi Minh City.

Secretary Nhan said that the meeting serves as an opportunity for the city authorities to discuss the results achieved and issues that need to be resolved. Meanwhile, the city leaders also wished to listen to suggestions and initiatives from FDI firms to jointly shape and build a city with a more complete legal framework and facilitative investment environment.

He affirmed that the FDI enterprise community has become stronger and one of the driving forces of the city’s economy.

“All capital invested in the economy not only brings about benefits to enterprises and investors but also shows the support of enterprises for the municipal administration’s efforts in making reforms and building a facilitative administrative system for the development of Ho Chi Minh City,” the Secretary noted.

Ho Chi Minh City posted total FDI capital of over US$7 billion in 2018, up 15% over 2017, raising the accumulated FDI capital to nearly US$45 billion.

The city attracted US$1.55 billion worth of FDI in the first three months of this year, equivalent to 120.4% of the same period in 2018 and accounting for 13% of the total FDI capital in Vietnam.

Secretary Nhan also mentioned several issues the city needs to deal with to continue to improve the business environment and competitiveness, including the renewal of the management method, the upgrade of infrastructure, improvements to public services, and others.

Representatives from FDI firms expressed their belief in investing in the city and their willingness to coordinate with the city to accelerate the progress of building a smart and creative city.

 

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