HCM City expects new wave of US investors via TPP hinh anh 1A corner of Ho Chi Minh City (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City expects to welcome a new wave of investors from the United States once the Trans-Pacific Partnership (TPP) takes effect, Vice Chairman of the municipal People Committee Le Thanh Liem said on March 7.

Liem made the statement at a meeting between local authority, the US Consulate General in Ho Chi Minh City and the American Chamber of Commerce (AmCham).

The vice chairman hailed the active role of the AmCham and US businesses in the city’s socio-economic development.

He affirmed that the economic hub will continue its administrative reforms and improve the local business climate to facilitate foreign investors, including those from America.

The meeting provided an opportunity for the city’s authority to get feedback from the American firms and help them solve difficulties.

US Consul General Rena Bitter spoke highly of Ho Chi Minh City’s support to US firms over the past years. The US is willing to assist Vietnam in its global economic integration and help connect businesses from the two countries, she said.

The TPP and Vietnam’s soon-to-be effective free trade agreements will lure more US investors to the country, she noted, hoping for continued support from the city’s authority in the future.

According to the municipal Department of Planning and Investment, four new FDI projects from the US, worth more than 1.5 million USD, landed in Ho Chi Minh City in the first two months of 2016.

The US has had 321 operational FDI projects, worth 630 million USD, thus far, making it the 12 th largest foreign investors in the city.-VNA​