HCMC promotes ​economic diplomacy, calling for investment

In 2023, the working delegations led by Ho Chi Minh City leaders paid visits to many countries to promote economic diplomacy, lure investment to the city and learn from development experiences and exemplary models in socio-economic fields.

During the working trip to the People's Republic of China in November 2023, a high-ranking delegation from Ho Chi Minh City led by Member of the Politburo and Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen had a working session in Shanghai Municipal Committee of Finance and Shanghai Municipal Financial Regulatory Bureau. Ho Chi Minh City hoped that the Chinese side would share experiences in building regional and international financial centers.

During a working session in Guangzhou Knowledge City, Ho Chi Minh City expressed its expectation to enhance cooperation, especially in fields of science and high technology, especially cooperation between Thu Duc City and Huangpu District.

Ho Chi Minh City set a target of developing Thu Duc City into one of the important knowledge economic centers, science-technology and finance centers of both Ho Chi Minh City and Vietnam.

Right after the working session, a signing ceremony of the Memorandum of Understanding (MoU) on cooperation between the People’s Committee of Thu Duc City, Ho Chi Minh City and the People's Government of Huangpu District, Guangzhou City, Guangdong Province was held.

The MoU signing aims to promote experience exchange and cooperation in three fields of urban planning and development; smart city and digital transformation; establishment of information channels and exchanges between Thu Duc City and Huangpu District in order to create conditions and opportunities for exchange, cooperation, and business connections between the two localities.

Ho Chi Minh City possesses numerous potentials and advantages

The working visits have brought practical opportunities to promote major projects, scientific and technological development, innovative entrepreneurship as well as green and sustainable development that Ho Chi Minh City is pursuing.

At the end of September 2023, a working delegation led by Chairman of the People's Committee of Ho Chi Minh City Phan Van Mai visited and had working sessions in the Republic of Korea and Japan.

During the over-a-week-long trip, the city’s working delegation visited leading cities in Asia, where major businesses from the region and around the world are operating.

Chairman of the HCMC People’s Committee Phan Van Mai visits the Shibuya redevelopment area which is considered as a model for development in Tokyo.

At the meeting with local leaders and big enterprises from both countries, Chairman Mai shared the Resolution 98/2023/QH15 of the Vietnam National Assembly on the pilot implementation of special mechanisms and policies for the development of Ho Chi Minh City.

Besides, the city leader also called for businesses and investors from both countries to look for cooperation opportunities and promote new projects in Ho Chi Minh City.

Via each meeting, based on the strengths of each locality and the presence of each business, the Chairman of the Municipal People's Committee shared information and invited businesses to come to Ho Chi Minh City.

During a visit to Mitsubishi Electric Nagoya Works Company in Japan, which currently has over 7,500 employees and specializes in manufacturing chain products related to production automation, Chairman Mai called for the company to conduct research and extend more investment in Ho Chi Minh City, particularly in the field of semiconductor electronics industry being the company’s strength.

Chairman Phan Van Mai affirmed that Ho Chi Minh City is ready to welcome and support investors throughout their investment processes, comprising both new investment projects implementation and production expansion.

During a meeting with the leaders of the Korea Enterprises Federation (KEK) and nearly 30 Korean businesses, Chairman Mai emphasized that the leaders of Ho Chi Minh City committed to continuously improving the investment and business environment, as well as creating favorable living conditions.

In addition, the city is always ready to listen to and resolve any difficulties and obstacles faced by investors in order to make Ho Chi Minh City the best destination for foreign investors, including Korean enterprises.

Upon grasping the policies, potentials and strengths that Ho Chi Minh City offers, leaders of localities and many Japanese and Korean businesses expressed their willingness to expand their factories and invest in new fields in the city.

Representatives of the Korea Enterprises Federation and businesses expressed their satisfaction with the new mechanisms and policies implemented by Ho Chi Minh City.

Vice Chairman of Samsung Engineering Co., Ltd. Han Sangdeok shared that the company is prioritizing research and investment in the North Saigon Wastewater Treatment Plant project, aiming at building a modern and advanced urban wastewater treatment plant for Ho Chi Minh City through a public-private partnership (PPP) form.

Representatives of the Japan International Cooperation Agency (JICA) also agreed with the leader of Ho Chi Minh City to accelerate the completion of Metro Line No.1 in order to put it into commercial exploitation by 2024.

Besides, leaders of the JICA affirmed that the agency would be willing to support Ho Chi Minh City with all of its efforts to well implement the Metro Line No.1 project together with the second phase of the Ho Chi Minh City Water Environment Improvement Project which is in its final phases.

Japanese investors emphasized that Ho Chi Minh City had great potential and advantages for strong development in various areas, especially in urban transportation infrastructure, healthcare, education and so on. They expressed their desire to enhance cooperation and investment in Ho Chi Minh City in the coming time.

Cooperation promotion in various fields

The leader of Ho Chi Minh City also performed working visits to foreign countries in order to strengthen diplomatic relations and promote cooperation in various fields, including the field of economics.

Particularly, at the end of August 2023, Chairwoman of the Ho Chi Minh City People's Council Nguyen Thi Le led a delegation of HCMC visited and worked in Cuba and the United States.

Chairwoman of the HCMC People’s Council Nguyen Thi Le and members of the Ho Chi Minh City delegation at the working session with the government of New York City, the United States.

During the visits, Chairwoman Nguyen Thi Le met with leaders of localities and top businesses from both countries to exchange ideas and explore opportunities for cooperation in cultural, healthcare and education sectors.

During the working session with the Government of New York City, Chairwoman Nguyen Thi Le said that Ho Chi Minh City and New York City are economic and cultural centers of their countries. This would be a foundation to implement collaborative programs, mutually develop and share experiences in urban management, re-development and financial center development; models, ideas, and New York's experiences in building and managing financial centers.

Chairwoman Nguyen Thi Le expressed her confidence ahead the comprehensive cooperation between Ho Chi Minh City and New York City, especially in the economic and urban management sectors which would enhance connectivity and accessibility for businesses from both sides to potential markets.

Mr. Edward Mermelstein, New York City’s Commissioner for International Affairs affirmed that New York City is ready to share its experience in building an international financial center, in science and technology and high-quality human resource training with Ho Chi Minh City.

Additionally, he expressed his desire to connect entrepreneurs from both cities to strengthen trade exchanges.

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