GBA Solutions Proposed to Improve Investment Environment in HCMC

HCMC, 14 March 2024 – The German Business Association (GBA) Board Member, Ms. Duyen Do and Executive Director Ms. Quynh Anh Le attended the meeting with municipal officials hosted by the HCMC Trade and Investment Promotion Center (ITPC).

The presiding delegation included the Chairman and Vice-chairman of the HCMC People’s Committee, the Director of the HCMC Trade and Investment Promotion Center (ITPC), the Director of the HCMC Department of Planning and Investment (DPI), the Director of the HCMC Department of Foreign Affairs (DoFA), and representatives from 16 foreign associations and domestic businesses.

To boost the city’s economic prosperity, the GBA exchanged the following suggestions during the meeting:

1/ Investment Environment Improvement: The city should enhance the investment climate by digitizing public management and liberalizing cross-border financing to create a transparent, efficient legal environment that accelerates investment.

2/ Policy Clarity and Global Standards: Policies, such as the 8% tax incentive, require clearer guidelines and alignment with international standards to simplify implementation and benefit businesses.

3/ Supply Chain and Production Support: It is proposed to reform education, promote local supply chains, improve infrastructure and logistics, transition to clean energy, and boost high-tech investments and R&D.

4/ Transport Infrastructure Investment: Prioritizing transport infrastructure is crucial for sustainable growth, reducing congestion, and improving access to industrial parks and airports to enhance business operations and quality of life.

5/ Visa Policy Simplification: Streamlining work and business visa policies will attract qualified foreign professionals, promoting trade, investment, and economic development in Vietnam.

Click here>>> for the full speech of the GBA in English and Vietnamese.

Social Economic of Ho Chi Minh City in 2023 – Resolution No. 98/2023/Qh15 of The National Assembly” document presented by the Department of Planning and Investment in ENG here>>> | in VIE here>>>

The GBA expresses gratitude to Mr. Phan Van Mai, Mr. Vo Van Hoan, and the ITPC for their support, highlighting the significance of President Steinmeier’s visit as a milestone in German-Vietnamese relations. The GBA is committed to fostering development and a favorable business climate, advocating for members’ interests, and facilitating progress with Vietnamese partners.

Upcoming is the “Green Growth” seminar on March 28, organized by the GBA in collaboration with the ITPC and UOB, focusing on investment promotion and sustainable development. This reflects the GBA’s dedication to open dialogue and shared aspirations for growth and prosperity. Click here>>> for more details.