The 2024 Ho Chi Minh City - New York Fall Forum officially opened in New York City. This forum is dedicated to strengthening cooperative ties between HCMC and key US localities and sister cities, advancing the commitments and agreements established as the two countries upgraded their relationship to a strategic partnership.
On October 31, a delegation from HCMC, led by Mr. Phan Van Mai, Member of the Party Central Committee, Deputy Secretary of the City Party Committee, and Chairman of the HCMC People's Committee, continued their agenda within the framework of the 2024 HCMC – US Fall Forum.
During this visit, the HCMC Chairman and delegation attended the opening ceremony of the HCMC – New York Fall Forum. Also in attendance were Vietnamese Ambassador to the US Nguyen Quoc Dung; Ambassador cum Head of the Permanent Mission of Vietnam to the United Nations Dang Hoang Giang; and more than 200 business representatives and speakers from both Vietnam and the US.
Calling for business collaboration
In his opening remarks, HCMC Chairman Phan Van Mai shared the city’s vision of transforming into a leading economic, financial, science-technology, cultural, and educational center in Southeast Asia, aiming by 2045 to stand among the world’s major cities. He emphasized that HCMC is eager to welcome partners from around the globe to help achieve these ambitious goals.
Chairman Phan Van Mai underscored the city’s commitment to “sustainable cooperation for shared prosperity,” inviting each investor to join not just as a partner but as a long-term companion on this journey. The city’s key areas of focus include developing modern, integrated infrastructure, accelerating digital transformation, promoting a green economy, and advancing high-tech industries. Especially, priority will be given to initiatives in renewable energy, innovative technology, and sustainable urban development.
Mr. Phan Van Mai urged local and international businesses, financial institutions, experts, researchers, and strategic investors to join efforts in developing HCMC into an attractive destination and a hub for groundbreaking ideas and innovations.
“Our city will thrive in this new era, marking a period of growth for Vietnam and standing as a dynamic testament to the success of the comprehensive strategic partnership between Vietnam and the US,” emphasized Chairman Phan Van Mai.
Removing institutional barriers to attract investors
Under the theme “Overview of US Policy in Reshaping the Global Value Chain,” US experts offered the forum in-depth insights into seven new American policies, examining the opportunities and challenges for Vietnamese businesses investing in the US and for attracting American investors to Vietnam.
Mr. Jake Siewert, Managing Director and Head of Global Public Policy and Political Risk at Warburg Pincus, noted the strong and steady progress in US-Vietnam relations. As global value chains undergo shifts, he highlighted several of Vietnam’s advantages, including a skilled workforce that is relatively affordable compared to other countries.
Regarding logistics and global trade connectivity, Siewert praised Vietnam’s infrastructure, emphasizing that its current connectivity is well-suited for business. However, he stressed that Vietnam needs well-defined strategies to capitalize on this wave of investment and attract sustained investor interest.
Mr. Sam Van, Senior Advisor to the Board at RKTech, welcomed the visit from the HCMC delegation, noting that the goal is not only to attract investment into Vietnam but also to explore pathways for investing in the US market. He emphasized the importance of creating a transparent, stable environment for investors and developing solutions that position Vietnam and Southeast Asia as top global investment destinations.
Mr. Vu Tu Thanh, Deputy Executive Director of the US-ASEAN Business Council (USABC), highlighted the need for both Vietnam and the US to advance rapidly in alignment with global trends. He observed that Vietnamese businesses are increasingly well-equipped to capture opportunities in foreign markets. He urged regulatory bodies to introduce policies that support businesses, particularly by addressing institutional “bottlenecks”—the “core challenge of all challenges.”
The Chairman of the HCMC People’s Committee expressed his appreciation for the insights shared by the experts. Mr. Phan Van Mai highlighted that the leadership of HCMC recognizes that innovation—both within the city and throughout Vietnam—combined with international collaboration, will be key to driving development.
He emphasized that while refining institutional frameworks is essential, effective implementation is equally vital.
“We are committed to making improvements in the near future and welcome suggestions and innovative ideas from associations and businesses. These contributions will provide us with the additional momentum needed for breakthrough development,” HCMC Chairman stated.
