On the afternoon of March 14, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai chaired a meeting between the city’s leaders and representative Foreign Business Associations, and outstanding businesses in the city.
At the meeting, representatives of Foreign Business Associations and local businesses highly appreciated the dynamic economy as well as the efforts of the city government in creating integration mechanisms and favorable conditions for the business environment of domestic and international enterprises.
Business units also proposed that the city soon have solutions to thoroughly improve the investment environment and more favorable policies; promote localization of supply chains, improve infrastructure and warehouse standards; improve transportation infrastructure; simplify work and business visa policies; establish a carbon credit market, build the framework to implement Resolution 98 and comprehensive policies for the city’s green development until 2023, with a vision until 2050.
In addition, it is also necessary to soon have effective support measures for small and medium-sized foreign-invested enterprises (FDI) investing in industrial production of raw materials and supporting equipment…
AmCham Chairman exchanges at the meeting. Photo: Ngo Tung.
Expressing optimism about the city’s prospects in 2024, Mr. Ramachandran A.S – Chairman of the American Chamber of Commerce in Vietnam (AmCham) – hopes to maintain current partnerships and create conditions for a business-friendly and attractive environment for trade, investment, innovation, and sustainable growth.
In the spirit of cooperation with the Ho Chi Minh City leaders, AmCham leaders proposed four areas and opportunities for both sides to implement, including: strengthening high-value production ecosystem; investing in infrastructure; expanding health care and physical activities; maintaining favorable policy environment.
Meanwhile, Ms. Do Thi Hong Duyen – a member of the Board of Directors of the German Business Association in Vietnam (GBA) – wants clear policies in the enforcement process and requested tools that are easy to apply for all types of businesses and comply with international accounting standards.
As evidence, Ms. Duyen said that recently the 10% tax incentive policy on value-added tax was reduced to 8%, but businesses still face difficulties in implementation due to unclear application categories, leading to incorrect application, tax debts, and fines.
Representatives of domestic businesses, Mr. Dang Van Thanh – Chairman of TTC Group’s Board of Directors – regarded that with Resolution 98 just issued by the National Assembly with many specific mechanisms, it is expected to create momentum for the development of Ho Chi Minh City in the near future. “On the new race track, we are conscious through cooperation, accompanying with our position, brand, and reputation to call for foreign investors to cooperate”, Mr. Thanh said.
TTC Chairman Dang Van Thanh shares at the dialogue session.
Cooperating to create new business opportunities
Listening to the sharing of businesses, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai highly appreciated the companionship and contributions of the business community, including FDI enterprises. He believed that the meeting was not only to listen and discuss solutions to overcome current difficulties, but through dialogue, the city and businesses would cooperate together to create new business opportunities, for businesses, for the city in particular, and for Vietnam in general.
Chairman of Ho Chi Minh City People’s Committee exchanges, presents souvenirs to representatives of foreign business associations. Photo: Ngo Tung
Information for FDI enterprises, the head of the Ho Chi Minh City government emphasized that in 2024, the city will focus intensively to achieve a growth target of 7.5 – 8%, with a focus on three growth drivers including investment, consumption, and export.
Regarding investment, the city will concentrate to ensure the disbursement of public investment meets the plan. Along with that, the city has just resolved difficulties, obstacles through dialogue while establishing a task force to settle difficulties, obstacles for FDI enterprises.
Deputy Chairman of Ho Chi Minh City People’s Committee Vo Van Hoan said that in 2023, the world economy situation is complex with many risks. In the country, Ho Chi Minh City also faces many unfavorable factors in the process of implementing economic and social development tasks, related to credit issues, corporate bonds, banking and especially some cases.
Thanks to the support of the Central Government, the efforts of the entire political system, the city resolutely coped with and overcame “adverse winds”, found bottlenecks and suitable solutions, resolved thoroughly issues related to disbursement of public investment, created conditions for foreign investors to come to the city. Accordingly, in 2023, Ho Chi Minh City continues to lead the country with nearly 6 billion USD in registered FDI capital, nearly 50% increase compared to 2022, accounting for 16% of the country’s total FDI capital.
