FDI firms contribute ideas to promote growth in HCM City

An FDI firm in Ho Chi Minh City (Photo: VNA) HCM City (VNA) – Representatives from foreign-invested (FDI) enterprises in Ho Chi Minh City contributed their ideas and recommendations to spur growth in the city at a meeting with municipal leaders on March 23. Secretary of the city’s Party Committee Nguyen Thien Nhan hailed the development of the FDI sector in the city, which has become one of the growth drivers for the city. He reported that 1.55 billion USD had been poured into HCM City in the first three months of 2019, up 20.4 percent from the same period last year. The official said the new trend of technological development and globalisation has required the city’s administration to reform its management in order to create a favourable environment for business activities and innovation. Chairwoman of the American Chamber of Commerce in Vietnam (AmCham) Amanda Rasmussen said at the meeting that HCM City has made progress in facilitating business activities and goods circulation. However, she said the frequent change of laws and regulations, including taxation policies and tax rates, is causing difficulties to foreign investors, as it affects their business and investment plans. Vice Chairman of the European Chamber… Read full this story

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