Illustrative image (Source: VNA)
 
 Ho Chi Minh City (VNA) – Ho Chi Minh City will create favourable conditions for Hong Kong enterprises to invest in the city, particularly in urban infrastructure and transport, affirmed Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee.

As a major economic-social hub of Vietnam, Ho Chi Minh City needs cooperation and investment for its development from various sources, including foreign investors, Tuyen said at a reception on May 12 for a delegation of Hong Kong businesses, led by Chairman of the Hong Kong Trade Development Council Vincent Lo.

He also suggested Hong Kong firms and local agencies enhance share information and work together to seek a cooperation mechanism that suits Vietnam laws, conditions of the Hong Kong businesses and demands of the city, thus creating long-term relations that benefits both sides.

For his part, Vincent Lo affirmed that Hong Kong firms wish to establish close ties with the city in infrastructure field through investment, consultancy provision, construction and management of public transport, health care and education facilities.

They also want to contribute to development of the city through investment and technology exchange in tourism and commodity productions, he noted.

With 407 projects worth 2.5 billion USD on real estate and processing industry, Hong Kong businesses now rank seventh among countries and territories investing in Ho Chi Minh City. 

In the first four months of 2017, Hong Kong investors received licences for 16 new projects in the city with total value of 11 million USD, tripling the figure for the same period last year.-VNA