Phan Văn Mãi, Chairman of the municipal People's Committee, said that the city committee resolve obstacles for foreign enterprises Photo courtesy of HCM City's People Committee

HCM CITY — The People's Committee of HCM City held a meeting to resolve obstacles for foreign enterprises.

Đào Minh Chánh, Deputy Director of the Department of Planning and Investment, reported that by 2025 the city aims to be a modern, smart, service and industrial-oriented city, maintaining its role as the economic locomotive with a per capita GRDP reaching US$8,500. 

To achieve this goal, the city authority proposed five solutions.

The first solution is to develop the economy rapidly and sustainably by transforming its hi-tech parks, industrial parks, and export processing zones into centers for high technology, creativity, digital economy, green economy, and circular economy, and concentrate on high value-added products and stages that can join regional and global value chains.

The second solution is to focus on the synchronous development of economic sectors, promoting the private economic sector, building large enterprises with national and global brands. 

The third solution is to promote its role as a driving force and leader of public investment, combining capital sources from the private sector, foreign investment, sponsors, and international financial institutions.

The fourth solution is to improve the quality of planning, management, and implementation, develop urban sustainability, and promote the construction of modern infrastructure. 

Specifically, the city will complete the construction of national highways, which include completing and putting into operation urban railway line No.1 by 2024, and completing Ring Road No.3 by 2026 and Ring Road No.4 by 2030. In addition, the city will also invest in the HCM City-Mộc Bài Expressway and the HCM City-Chơn Thành Expressway, among other projects.

The fifth solution is to emphasize the development of culture, society, education and training, healthcare, and the improvement of people's quality of life.

James Ollen, Managing Director of the American Chamber of Commerce in Vietnam (AmCham) in HCM City, said the southern hub’s authorities need to have policies to develop high technology and industries with high-added values, improve local supply chains, develop digital economy services, and develop lifelong education. 

HCM City should also have a consistent policy on simplifying administrative procedures related to visa issuance for foreigners, he noted.

Chairman of the municipal People's Committee Phan Văn Mãi affirmed that the city is focusing on improving the investment environment, clarifying the administrative responsibilities of agencies and the public duties of each public servant. 

The city will pay heed to speeding up digital transformation in connection with improving the investment environment, thus creating the most favorable conditions for businesses, he said.

Basic activities of the local authorities are expected to be operated on a digital platform by 2025, Mãi said, adding that the city has officially implemented digital economic development and increased the proportion of the digital economy in its economy in 2023. VNS