Illustrative image (Source: VNA)
HCM City (VNA) – Ho Chi Minh City is willing to address difficulties for foreign enterprises, including those from the Republic of Korea (RoK), Tat Thanh Cang, Vice Chairman of the municipal People’s Committee, said at a dialogue on business support for RoK enterprises held in the city on December 8.

The municipal authorities always consider the difficulties facing businesses as challenges in creating a clear and sound business and investment environment, he said.

HCM City is one of the localities leading in fostering the Vietnam-RoK strategic cooperative partnership, particularly in economics. As of November, the RoK was the city’s fourth biggest investor with 1,150 projects capitalising at 3.9 billion USD.

The City hopes to continue welcoming more RoK investors in the near future, he added.

Lee Dong Geun, executive Vice Chairman of the Korea Chamber of Commerce and Industry, affirmed that many RoK companies are considering Ho Chi Minh City an attractive destination for business and investment. The companies wish to contribute to the city’s sustainable economic development through experience sharing and technology transfer.

Lee spoke of the significance of the dialogue, saying it offered a chance for RoK investors to meet municipal authorities and get updated about the City’s new policies, and voice difficulties facing them during their operation.

The Vietnam-RoK free trade agreement, which was approved by the RoK Parliament on November 30, will open up more trade and investment opportunities for both sides. It is expected to help reach the target of 70 billion USD in two-way trade by 2020.

There are over 4,000 RoK companies operating across sectors in Vietnam.-VNA