Foreign businesses hope Ho Chi Minh City creates a more positive legal environment

Foreign businesses hope Ho Chi Minh City creates a more positive legal environment

 

Investors interested in creating a regulatory system that is fair, transparent, predictable and efficient, values ​​innovation…


People's Committee of Ho Chi Minh City.

At the meeting with the Foreign Business Association in 2022, organized by the People's Committee of Ho Chi Minh City on the evening of May 20, 2022, many representatives of business associations gave suggestions for the city to accelerate development after the pandemic. Covid-19.


HIGH VALUE MANUFACTURING AREA

Vietnam, especially Ho Chi Minh City and the southern economic region, remains attractive for investment in high-value manufacturing due to its proximity to source and consumer markets, Ms. Mary Tarnowka, Executive Director of the American Chamber of Commerce (AmCham), said.



Accordingly, AmCham members look forward to further growth in the supply chain in Vietnam by strengthening cooperation with local small and medium manufacturers, including through digital transformation and enhancement programs. capacity building, cooperation to facilitate digital transformation and cashless economy.



Ms. Mary Tarnowka, AmCham CEO: “AmCham supports HCMC's plans to strengthen the financial market and develop HCMC into a regional and international Financial Center".


“The issue that Ho Chi Minh City needs to focus on is ensuring a more positive regulatory environment, not only to attract new investment but also to grow existing investment. Investors are interested in creating a fair, transparent, predictable and efficient regulatory system that values ​​innovation,” said Mary Tarnowka.



On the side of the European Chamber of Commerce (EuroCham), Mr. Jean Jacques Bouflet, Vice President of EuroCham, saw opportunities for cooperation in the fields of industry, digital transformation, and transport infrastructure.


“HCMC considers the use of digital signatures for all administrative documents and processes. Due to the current reality, not all processes are allowed to use digital signatures at enterprises, while digital signatures have the same legal value in signing documents related to customs documents. import and export”, suggested Mr. Jean Jacques Bouflet.


Mr. Hirai Shinji, Chief Representative of JETRO office, and Vice President of Japan Business Association in Ho Chi Minh City, believes that Ho Chi Minh City is and will be the focus of investment attraction of foreign businesses. Because according to a recent JETRO survey, the most attractive point in Vietnam's investment environment is its economic growth potential and market size.



Meeting with Foreign Business Association in 2022

As for Korean businesses and investors, they want Ho Chi Minh City to upgrade its logistics infrastructure to a higher level.


Mr. Shon Young IL, Chairman of the Korea Association of Commerce and Industry in Central and South Vietnam (KoCham), said that artificial intelligence can be applied in operating the transportation system instead of the traditional traffic system. best; expanding inter-regional highways to facilitate the circulation of goods for businesses.


Another issue that Korean investors in Ho Chi Minh City are interested in is the growth of component manufacturing companies in the city and the southern region. If the city has a policy to nurture the component manufacturing industry more actively, the economic effect will quickly be realized.


Mr. Shon Young IL also added that, in order to restore diversity and dynamism, Ho Chi Minh City, besides enhancing people-to-people exchanges, strongly attracts foreign investment in the cultural industry sector. , which is the heart of the fourth industry, should also be considered.
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