Leaders of Ho Chi Minh City recently held a meeting with foreign-invested (FDI) businesses, calling on them to work side by side with the southern metropolis of Vietnam toward the goal of fast and sustainable development. The event on April 21 drew representatives of foreign businesses’ associations and nearly 200 FDI companies in HCM City. Secretary of the municipal Party Committee Nguyen Thien Nhan said over the past years, HCM City has made efforts to improve investment climate, step up administrative reforms, streamline procedures, increase transparency and boost IT application in the settlement of administrative procedures to enhance the attractiveness to foreign investment. As a result, the city attracted 6.6 billion USD in FDI in 2017, surging over 90 percent from the previous year. In the first quarter of 2018 alone, the figure stood at 1.37 billion USD, compared to 5.8 billion USD of the entire country. However, he said, HCM City is also facing an array of challenges typical of a big city such as outdated transport system, and overloading in infrastructure, hospitals, schools and housing due to rapid population growth. Meanwhile, heavy climate change impacts and risks of serious flooding have also negatively influenced local people’s life and… Read full this story
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