HCM City recommended to further improve investment environment

HCM City (VNA) - Vietnam and Ho Chi Minh City in particular need to make changes and further accelerate administrative reforms in order to create a more attractive environment for foreign investors, President of the European Chamber of Commerce in Vietnam (EuroCham) Alain Cany has said.

Addressing a seminar hosted by the municipal People’s Committee on February 22 with representatives of 18 foreign business associations in the city, Cany said EuroCham recommended HCM City to further promote digital transformation in handling administrative procedures, and pay attention to boosting sustainable and green development by measures to support and prioritise businesses using green and environmentally friendly energy.

It is necessary for the city to enhance investment in synchronously developing public transport systems to achieve the goal of reducing the use of private vehicles, he added.

Sharing Cany’s opinions, Seck Yee Chung, Vice President of the Singaporean Business Association in HCM City, said Vietnam and HCM City in particular should  work harder on improving the investment and business environment.

James Ollen, Managing Director of the American Chamber of Commerce in Vietnam (AmCham) in HCM City, said the southern hub’s authorities need to have policies to develop high technology and industries with high-added values, improve local supply chains, develop digital economy services, and develop lifelong education.

HCM City should also have a consistent policy on simplifying administrative procedures related to visa issuance for foreigners, he noted.

Meanwhile, Angus Liew Bing Fooi, Director of the Malaysian Chamber of Commerce in Vietnam, recommended HCM City to have specific and preferential policies to support  businesses operating in the fields of green development and environmental protection.

In his speech,  Chairman of the municipal People's Committee Phan Van Mai affirmed that the city is focusing on improving the investment environment, clarifying the administrative responsibilities of agencies and the public duties of each public servant.

The city will pay heed to speeding up digital transformation in connection with improving the investment environment, thus creating the most favorable conditions for businesses, he said.

Basic activities of the local authorities are expected to be operated on a digital platform by 2025, Mai said, adding that the city has officially implemented digital economic development and increase the proportion of the digital economy in its economy in 2023.

HCM City hopes to receive support, and learn from experience from foreign investors and businesses in the scheme, he said.

The city has been focusing on developing transport infrastructure, Mai said, noting that financial investment for transportation accounts for about 50% -70% of the short term investment, focusing on metro, inner-city and inter-regional traffic routes./.