HCM City calls on FDI firms to support local sustainable development

Leaders of Ho Chi Minh City recently held a meeting with foreign-invested (FDI) businesses, calling on them to work side by side with the southern metropolis of Vietnam toward the goal of fast and sustainable development.
HCM City calls on FDI firms to support local sustainable development ảnh 1Secretary of the municipal Party Committee Nguyen Thien Nhan speaks at the meeting between HCM City leaders and FDI firms on April 21 (Photo: VNA)

HCM City (VNA) – Leaders of Ho Chi Minh Cityrecently held a meeting with foreign-invested (FDI) businesses, calling on themto work side by side with the southern metropolis of Vietnam toward the goal offast and sustainable development.

The event on April 21 drew representatives offoreign businesses’ associations and nearly 200 FDI companies in HCM City.

Secretary of the municipal Party CommitteeNguyen Thien Nhan said over the past years, HCM City has made efforts toimprove investment climate, step up administrative reforms, streamlineprocedures, increase transparency and boost IT application in the settlement ofadministrative procedures to enhance the attractiveness to foreign investment.

As a result, the city attracted 6.6 billion USDin FDI in 2017, surging over 90 percent from the previous year. In the firstquarter of 2018 alone, the figure stood at 1.37 billion USD, compared to 5.8billion USD of the entire country.

However, he said, HCM City is also facing anarray of challenges typical of a big city such as outdated transport system,and overloading in infrastructure, hospitals, schools and housing due to rapidpopulation growth. Meanwhile, heavy climate change impacts and risks of seriousflooding have also negatively influenced local people’s life and businesses’activities.

Secretary Nhan called on FDI enterprises to takepart in key socio-economic development projects, noting that the city particularlyencourages them to suggest measures and share experience in building a smartcity.

He affirmed that HCM City considers businessesand people’s satisfaction as the meter of the development and efficiency of itsadministrative apparatus’ performance.

[Ho Chi Minh City tops nation in FDI attraction]

At the meeting, many FDI companies described HCMCity as a dynamic city with fast growth rate and a destination drawing foreigninvestors’ interest. However, they also said to attract foreign capital forfast and sustainable development and smart city building, the city will have totackle policy and human resources problems.

A representative of the European Chamber ofCommerce in Vietnam (EuroCham Vietnam) said European companies wants HCM Cityto put forth more open and transparent policies. The legal system regardinginvestment activities needs to be consistent in both theory and practice. It isalso necessary to improve the quality of human resources, not only manualworkers but also middle- and high-level manpower, in order to meet foreignbusinesses’ demand.

Sharing the same view, Saranya Skontanarak,Chairwoman of the Thai Business (Vietnam) Association, said manpowerquality not only affects the attractiveness to foreign investment but also servesas a decisive factor of smart city building success.

She added HCM City, and on a larger scale,Vietnam, no longer has labour cost advantages. Therefore, the city must havesolutions to promote labour productivity and quality. Building a smart cityrequires not only modern technology but also capable personnel to operate thesystem and enjoy the benefits it will generate.

Seck Yee Chung, Vice President of the SingaporeBusiness Group - HCM City Chapter, said HCM City and many other cities inVietnam want to build smart cities, which is a necessary step toward modernisingcities and solving hot issues pertaining to transport infrastructure,environment and database. 

Singapore is experienced in smart city buildingand technology-based development, and it is ready to help HCM City and Vietnam.However, he said, the country needs policies which are more open to investmentin technology services.-VNA
VNA

See more

Delegates mark the launch of the new shipping route on February 18. (Photo: VNA)

New shipping route linking China, Vietnam, India launched

The container shipping route connecting the ports of Beibu Gulf (China), Hai Phong (Vietnam) and Kolkata (India) is destined to become a key strategic trade axis, contributing to the sustainable growth of both the regional and Vietnamese maritime industries.

Ca Mau province Deputy Secretary Nguyen Ho Hai receives a gift from the Singaporean ambassador Jaya Ratnam at a meeting held on February 17 to enhance exports and cooperation. (Photo: tuoitre.vn)

Ca Mau wants more exports to, cooperation with Singapore

The southernmost province of Ca Mau wants to increase agricultural and fishery exports to Singapore and strengthen cooperation in several sectors, Deputy Secretary of its Party Committee, Nguyen Ho Hai has told Singaporean embassy officials.

Permanent Deputy Secretary of the municipal Party Committee Nguyen Thanh Nghi hosts a reception for Japanese Ambassador to Vietnam Ito Naoki on February 17. (Photo: www.sggp.org.vn)

HCM City looks to deepen ties with Japan

The city aims to deepen cooperation with Japan in key areas such as sustainable urban development, emissions reduction, climate change adaptation, innovation, digital transformation, supply chain resilience, supporting industries, healthcare, tourism, culture, workforce development, and people-to-people exchanges.

Workers process shrimp for export. (Photo: VNA)

Shrimp exports grow in the first month of 2025

Shrimp products recorded a strong 13%increase in export value in January 2025, reaching a total of 273.3 million USD. This growth accounted for 35.3% of Vietnam's total seafood export turnover, contributing significantly to the country's overall seafood export performance.

Vietnam imposes VAT on low-value imported goods

Vietnam imposes VAT on low-value imported goods

It is estimated that if low-value goods worth less than 1 million VND are subject to a 10% VAT rate, State budget revenue could increase by around 2.7 trillion VND (105.6 million USD).

Can Gio International Transit Port blueprint. (Photo: sggp.org.vn)

Can Gio port added to national seaport development plan

The Ministry of Transport has approved adjustments to policies, solutions, and resource allocations for the implementation of the national seaport system master plan for 2021-2030, with a vision to 2050. The Can Gio port is now part of the implementation roadmap.

Rice packaging at the factory of Loc Troi Group in An Giang province. (Photo: VNA)

Vietnam expected to export over 7.5 million tonnes of rice in 2025

MARD’s supply and demand report sent to the Ministry of Industry and Trade (MoIT) projects the Mekong Delta will cultivate 3.78 million hectares of rice, yielding more than 23.96 million tonnes. Of this, 15.08 million tonnes of commercial rice, equivalent to 7.54 million tonnes of husked rice, will be available for export.

Representatives from EzyRemit Worldwide and Sacombank-SBR at the meeting on February 17 in Sydney. (Photo: VNA)

Vietnamese, Australian firms promote comprehensive strategic cooperation

EzyRemit Worldwide, one of the leading fintech companies in Australia, and Sacombank-SBR of Vietnam discussed expanding cooperation and enhancing international money transfer and payment services between Vietnam and Australia, thereby providing more values for customers in both countries.