The Ben Thanh - Suoi Tien urban railway project in Ho Chi Minh City is funded by Japan (Photo:dangcongsan.vn)

HCM City (VNA) – A new wave of Japanese investment is forecast to emerge in Ho Chi Minh City, Vo Van Hoan, Chief of the municipal People's Committee office, said during a press conference on April 4.

To assist the future capital flow, overhauling administrative procedures is the top priority, Hoan noted.

He said research is underway to establish a trade promotion centre supporting investors based on the application of the one-stop-shop mechanism.

According to the official, other tasks include promoting the role of business associations, boosting the performance of promotion agencies and encouraging start-ups.

Japan has thus far invested in 828 projects in the southern hub, with the total registered capital reaching approximately 2.7 billion USD.

The city has received 3 billion USD worth of Japanese official development assistance (ODA) for eight local projects.

In a recent visit to Japan, a delegation from Ho Chi Minh City asked for additional ODA to be granted to its environmental and metro projects.-VNA