HCM City (VNA)🉐 - The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the American Chamber of Commerce (AmCham) in Vietnam helda workshop on April 25 to acquire businesses’ feedback on socio-economiccooperation.

Speakingat the event, Chairman of the municipal People’s Committee Phan Van Mai said thecity is collecting opinions from local businesses, associations and economists ona scheme to improve the efficiency of its foreign direct investment attractionfor the 2023-2025 period with a vision to 2030. Itaims to build the city into a modern service-industry and industrial hub, a front-linerin digital economy and society; an economic, financial, commercial, scientific-technological,and cultural centre in Southeast Asia. Mai hoped that theUS firms would share information with the city in the fields of capital market and financial services, digitaleconomy and technology, manufacturing, supply chains and logistics, energy,health care and education to further improve its business environment and propeleconomic growth. Themunicipal authorities will specify the responsibilities of relevant agenciesfor dealing with difficulties faced by businesses, especially foreign enterprises, hesaid, adding that the city is committed to creating a stable business environment,protecting the legitimate rights and interests of investors, and offering allpossible support to US enterprises to do business stably, sustainably andeffectively there. AmCham Chairman GregoryTesterman, for his part, said Ho Chi Minh Cityhas overcome the most difficult period of the COVID-19 pandemic, creating trustamong the business community about the prospect of stable growth in thenext 3-5 years. However, challenges ahead remain due to the impacts ofeconomic recession trend in the US, North America, and Europe.

According to the official, the US business community is interested in Ho ChiMinh City's plan to attract investment in modern technology and innovation inThu Duc city, as well as a project on building a financial centre of the regionand the world. They hoped that the city will open up more opportunities forforeign investors to join in the financial market, thereby making more positivecontributions to sustainable growth.

⛎ AmCham also suggested the city continueimproving visa application process for entrepreneurs and investors to not missout on opportunities to attract foreign resources.

US ConsulGeneral in Ho Chi Minh City Susan Burns said AmCham in Vietnam is constantly growing withmore than 2,000 members investing billions of USD in the city at present. Inthe face of recession and conflict-related challenges, the city needs strong reform inall aspects to seize opportunities from the global investment shifting trend,thereby pushing its effective economic recovery and development, she said./.