Over 300 enterprises consult HCMC on recovering growth momentum

The Investment Legal Support Forum 2023 was opened on December 12 with a participation of more than 300 domestic and foreign enterprises.

The People’s Committee of Ho Chi Minh City chaired the forum.

Mr. Pham Trung Kien, Deputy Director of Ho Chi Minh City Department of Planning and Investment shares the legal difficulties that investors are facing.

At the forum, domestic and foreign investors gave various opinions, mostly concentrating on issues of preferential policies, safe legal corridors for investment activities through public-private partnerships (PPP) form and attracting investors to green projects.

At the Investment Legal Support Forum 2023

Deputy Director of the Ho Chi Minh City Department of Planning and Investment Pham Trung Kien said that investment under public-private partnerships (PPP) form in the context of implementing Resolution No.98 would be a chance and challenge for both investors and city authorities.

Mr.Vo Van Hoan, Vice Chairman of Ho Chi Minh City People's Committee, record opinions about Ho Chi Minh City's development.

Accordingly, Vietnam has issued the PPP law and some other legal documents stipulating the investment form.

In Ho Chi Minh City, Resolution No.98 is an important legal base, creating favorable conditions for the city to proactively select, call for and implement feasible PPP projects. However, the implementation of PPP projects has faced difficulties and obstacles.

Both Government agencies and private sector are confused about choosing, and identifying the kinds of contracts comprising BOT, BTO, BLT, BTL, BOO, O&M, BT being suitable with each field and project. Therefore, the lack of guidance in detail and regulations stipulated in law and legal documents will make agencies and investors confused about PPP contracts.

As for policies for green investment attraction, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment Do Van Su said that Vietnam in general and Ho Chi Minh City in particular had to well prepare to meet the requirements of investors, especially in fields of green economy and circular economy. However, the legal framework related to green and circular economy concerning to energy and emission has not been regulated in detail and policies of the State are insufficient enough to lure investors.

With the proposals of investors and experts, Deputy Chairman of the People’s Committee of Ho Chi Minh City Vo Van Hoan highly appreciated the constructive opinions for HCMC’s growth.

The Resolution No.98 has been formed with special mechanisms for the city’s development in association with investment management, financial and budget management groups and land management to attract strategic investors.

In addition, the city has proactively established an expert team to effectively implement the break-through policies from the Resolution No.98. However, it is important to improve during the implementation process to make investors feel secure doing business in the city.

On the occasion, the city desired to receive more contributions and solutions to help the city effectively attract investment projects in semiconductor technology and green infrastructure which are considered as core factors to help maintain and restore growth momentum for the city in the upcoming time.

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