HCM City’s leader vows favourable conditions for Korean investors

A conference between Ho Chi Minh City’s leaders and Korean businesses is held on August 16, aimed at removing difficulties and obstacles for Korean investors. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City’s authorities will improve the local investment environment and create favourable conditions for foreign enterprises, particularly those from the Republic of Korea (RoK), to do long-term business stably and effectively, a municipal official has said.

Speaking at a conference between HCM City’s leaders and Korean businesses on August 16, Chairman of the municipal People's Committee Phan Van Mai hoped that Korean investors would continue to pay due attention to and invest in projects in the city in the coming time for mutual benefits.

The RoK is currently one of HCM City’s largest trading partners, ranking fourth out of 120 countries and territories in terms of investment. 

Phan Van Mai, Chairman of the municipal People's Committee speaks at the event. (Photo: VNA) 

Korean investors have to date invested in 2,135 FDI projects worth more than 5.5 billion USD in the city, accounting for 9.6% of its total FDI.

Korean businesses invest in the city’s various sectors such as wholesale and retail, automobile repair, processing and manufacturing industries, science and technology, and information and communication.

The event, jointly organised by the HCM City Investment and Trade Promotion Centre (ITPC) and the RoK’s Consulate General in HCM City, aimed to remove difficulties and obstacles for Korean investors./.

VNA