FDI enterprises believe in the potential and development orientation of Ho Chi Minh City
Speaking to the press on the sidelines of the workshop on the super urban area of Ho Chi Minh City on October 30, Vice President of the European Business Association in Vietnam ( EuroCham), Mr. Erick Contreras, affirmed that the orientation of Ho Chi Minh City to become an International Financial Center will open up a new position for Vietnam - not only a place to attract capital flows, but also a center for managing and coordinating capital flows in the region. He believes that a transparent and efficient financial center will become a "launching pad" for innovation in green finance, contributing to promoting sustainable growth.
EuroCham affirmed: "Promoting FDI is not only about attracting investment, but also attracting high-quality investment". With a dynamic economy and strategic location, Ho Chi Minh City has great potential to become a successful international financial center of Vietnam, if it continues to improve transparency in policies and efficiency in management and implementation.
Mr. Thue Quist Thomasen - Chairman of the Business Association of Northern European countries (NordCham), commented that Ho Chi Minh City's development vision has many similarities with the green, smart and sustainable urban model of Northern Europe.
He proposed that Ho Chi Minh City establish a "fast-paced" for green - digital investment projects, with specialized support in English to shorten approval time. According to Mr. Thue Quist Thomasen, renewable energy is the "gateway" to attract Nordic FDI capital, so Ho Chi Minh City needs to expand green energy capacity, upgrade power grid infrastructure and issue clear regulations on direct power purchase and sale contracts, as well as the virtual contract (PPA) model.
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Key areas to improve the investment environment
Mr. Okabe Mitsutoshi - representative of the Japan External Trade Organization (JETRO) in Ho Chi Minh City, recommended that the city soon implement measures to improve procedures for establishing enterprises, importing goods, granting labor licenses and visas.
Other foreign business associations also believe that Ho Chi Minh City has a great opportunity to make a breakthrough if it promotes administrative reform and improves the investment environment. The city is recommended to continue to simplify procedures, increase transparency and legal predictability.
Many businesses are interested in developing the International Financial Center (IFC), believing that Ho Chi Minh City can become a regional competitive financial destination if there is a flexible mechanism and follows international standards, focusing on green finance, FinTech and innovation.
Propose to promote key infrastructure projects such as metro, airport, seaport and expand public transport according to the TOD model. In addition, Ho Chi Minh City needs to invest heavily in training high-quality human resources according to international standards, accelerating digital transformation, supporting technology enterprises and perfecting the legal framework on network security and data to build a strong digital ecosystem.
