HCM City promotes trade, investment in key areas

Illustrative image (Souce: VNA)

HCM City (VNA) – The southern metropolis Ho Chi Minh City is becoming an attractive destination for many countries worldwide in term of investment, trade, tourism and cultural exchange, heard at a trade promotion conference in the locality on September 7.

According to Director of the city’s Investment and Trade Promotion Centre (ITPC) Pham Thiet Hoa, the conference asserted the city’s consistent viewpoint in bolstering trade and investment relations with partner cities and creating strong impressions on international enterprises and tourists.

HCM City is considered as the country’s economic locomotive. Since 1988, the city has had 6,268 valid foreign direct investment projects, with a combined registered capital of 40.8 billion USD.

The locality is offering numerous incentives to attract investment in services and industries with high technology and added value, he said.

Le Bich Loan from the Saigon Hi-Tech Park (SHTP) said that the park is calling for investment in several areas, including microelectronics, information technology, bio and nano tech, new energy, accuracy mechanics and automation. As of August 2016, the park had licensed 101 projects with total capital of 5.56 billion USD. Total export turnover of hi-tech products from its enterprises reached 17 billion USD.

Another key economic project of the city, the Quang Trung Software City (QTSC), is now home to 135 domestic and foreign businesses.

QTSC Director Nguyen Hai Long highlighted projects appealing for investment in the fields of software development, data centre, incubator centre, business process outsourcing (BPO), research and development (R&D), banking and insurance.

Potential projects in the areas of transportation, health and education were also introduced to domestic and foreign investors at the event.

Masayuki Inoue from Japan’s Osaka working delegation highly valued potential projects presented at the conference, adding that many Osaka enterprises wish to find trade and investment cooperation in Vietnam.

Ho Chi Minh City officially became a member of the Business Partner City (BPC) – Osaka in 1997.-VNA