HCM City calls for foreign investments

Ho Chi Minh City authorities, on August 31, held a meeting with foreign consuls general in the city to discuss orientations to develop the southern metropolis and joint works to increase foreign capital.

Speaking at the function, Chairman of the municipal People’s Committee Nguyen Thanh Phong stated HCM City is committed to improving the local business climate to welcome long-term operations of foreign investors.

Phong said the city wants to learn from experience of cities around the world in terms of growth and living quality, asking participating consuls general to share initiatives and collaboration to help tackle the municipal development challenges.

HCM City leaders presented the hub’s master planning for growth by 2020 and nine major projects as well as its progress of becoming a smart city.

They expected the consuls general to become bridges connecting potential foreign investors to the city’s projects.

Singaporean Consul-General Leow Siu Liu acknowledged the city’s efforts to ensure strong development and boost people’s living standards.

Expressing her delight at the local development planning and seven breakthrough programmes for 2016-2020, she stressed the consuls general will inform business associations and firms at home on investment opportunities in the city.

At the meeting, the authorities also fielded questions by the diplomats.

In the first half of 2017, the municipal Gross Regional Domestic Product grew 7.76%, up 7.47% from the same period last year. As of August, the city recorded US$22.8 billion in export revenue, an annual increase of 13.6 percent, and 650 new and extended FDI projects totalling US$1.4 billion.

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