HCM CITY — HCM City has not only established friendly relations with 41 cities and provinces in other countries, but is also a member of many networks that link localities around the world, city authorities have said.

Addressing a delegation of Vietnamese representative agencies  in other countries yesterday, the chairman of the city People’s Committee, Nguyễn Thành Phong, said the city also has partner relations with the cities of Busan and Deagu (South Korea), Rotterdam (the Netherlands) and Yangon (Myanmar).

The city has thousands of FDI projects in various sectors, which have significantly contributed to the city’s socio-economic development.

Singapore is now the biggest investor in HCM City, followed by Malaysia, South Korea and Japan, according to Phong.

In the near future, when a number of free trade agreements come into effect, the city is expected to attract more FDI.

Phong said this would offer opportunities but also pose challenges.

HCM City would like Vietnamese diplomats abroad to provide information about its investment incentives and opportunities, he said.

It had given priority to infrastructure development, and planned to solicit international investment in major public transport and flood-control projects, he said.

It planned to speed up administrative reform and improve the investment environment to attract domestic and foreign investment, he added.

Dương Chí Dũng, head of the Ministry of Foreign Affairs’ Administration Department, said Vietnamese representative agencies in other countries would make greater efforts to help HCM City expand its links with localities in other countries and take full advantage of these international relations for its economic development.

According to the city People’s Committee, there are plans to strengthen co-operation with foreign localities in areas like transportation, environment, science and technology, agriculture and human resource development.

The city has called for investment in big environmental projects, including nine centres for monitoring the environment and climate change, which has affected the living standards of people in the southern provinces. — VNS