HCM City authorities vow to facilitate British investment

Vice Chairman of the HCM City People’s Committee Le Thanh Liem. (Source: VNA) 

HCM City (VNA) – Ho Chi Minh City is resolved to improve its investment environment and create favourable conditions for foreign investors, including those from the United Kingdom, to do long-term business in the city, said a local official.

At a meeting with leaders of the UK Consulate General and the British Business Group in HCM City on December 13, Vice Chairman of the municipal People’s Committee Le Thanh Liem noted that, based on the growing Vietnam-UK strategic partnership, relations between HCM City and the UK is developing well, opening up new cooperation opportunities.

Liem affirmed that HCM City wants to continue cooperation with British investors during its development process, especially in building a smart city.

British Consul General in HCM City Ian Gibbons spoke highly of the municipal administration’s efforts to perfect its investment climate, thereby attracting more British enterprises.

During the meeting, the city’s officials and representatives of the British Business Group exchanged views on arrange of issues such as tax policy, infrastructure development and high-quality personnel training.

The UK currently ranks 12th among 79 countries and territories investing in HCM City, with 126 valid projects worth over 500 million USD.

Two-way trade between HCM City and the UK reached 755 million USD in the first 11 months of 2016.-VNA