HCM City ups the ante on FDI
(VOV) - HCM City has cumulatively attracted 5,300 foreign direct investment (FDI) projects and US$36 billion in pledged investment, city leaders announced at a March 4 meeting with foreign investors.
Last year investment in the city hit a record high US$2.88 billion, triple the amount in 2013 and the city led the nation in FDI attraction.
In the first two months of this year alone, the city has issued investment certificates totalling US$500 million, an on-year increase of 170%.
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Investors at the meeting suggested that the city should further improve transport infrastructure and improve human resource training to attract higher levels of FDI.
They also urged the city to accelerate administrative reforms to create an environment more conducive to investors, particularly in customs and tax regulations.
Alternatives to developing the support industry and new regulations on granting VISAs were also alternatives discussed.
FDI businesses committed to help the city develop more sustainably and to get more actively involved in community and civic affairs in the future.