HCM City promotes trade, investment in Australia
(Photo: VNA)
Sydney (VNA) – Ho Chi Minh City’s business climate and business development strategies were introduced at an Investment-Trade-Tourism Promotion conference in Sydney, Australia on October 25.
The event, held by the city’s Investment and Trade Promotion Centre
(ITPC), was attended by Vietnamese Consul General to Sydney Hoang Minh Son,
representatives from the Australia-Vietnam Business Council and Vietnamese and
Australian investors in services, tourism, accommodation and real estate.
In his opening remarks, Son said that Vietnam and Australia have become important
trade partners, with bilateral trade doubling to 6 billion USD in 2017 from 3
billion USD in 2007.
Both sides boast huge potential for bilateral cooperation, he said, stressing
that Ho Chi Minh City will become an attractive destination for Australian
investors.
He noted that the Vietnamese Government and diplomatic agencies in Australia
create favourable conditions for ties between businesses and authorities of the
two countries. The conference served as a venue for enterprises from both sides
to seek cooperation opportunities, he stated.
For his part, ITPC Director Pham Thiet Hoa said that the city was the most
attractive destination in the country for foreign investment in 2016 with 836
new projects worth 3.42 billion USD, 14 percent of the nation’s total investment.
In the first nine months of 2017, the city continued to lead cities and
provinces nationwide in foreign direct investment with total registered capital
of 3.74 billion USD, he said.
The southern hub is working to improve administrative procedures, issue new
laws, give out initiatives and improve infrastructure to lure foreign
investment, he emphasised, adding that the city is prioritising investment in
mechanics, information and technology, pharmaceutical chemistry and food
processing.
Australian businesses’ queries on investment procedures, preferential policies
and measures to promote tourism were responded at the conference.
Similar promotion conferences will be held in Melbourne and New Zealand.-VNA