The event also saw the presence of Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc.
At the meeting, many opinions stated that there should be appropriate encouragement policies for domestic businesses with potential resources and dedication to contribute to infrastructure projects.
Dr. Tran Du Lich, Chairman of the Advisory Council for the Implementation of Resolution 98, suggested that the Government should allow tax deductions for businesses’ capital expenses invested in public utility projects. For example, if a business invests VND1,000 billion (US$39.13 billion) with a tax rate of 20 percent, the company would be deducted VND200 billion for its contribution to creating a community infrastructure. In addition, the city needs to have honoring and complimenting policies, material and spiritual incentives for Vietnamese businesses to effectively participate in large-scale projects such as the symphony, opera, and ballet theater project worth VND1,500 billion, Thu Thiem Park, or urban railways.
Chairman of Elisa Group, Nguyen Hai Linh, suggested that there should be a mechanism to receive and support sponsors, such as establishing a subcommittee to resolve administrative procedure difficulties. Additionally, the city should publicize a list of projects seeking sponsorship, making it easier for businesses to access.
Chairman of the HCMC Real Estate Association (HoREA), Le Hoang Chau, pointed out that many Vietnamese businesses are registering in Singapore to return and invest as "foreign enterprises," which reflects the barriers to the domestic investment environment. He proposed reducing procedures, time, and unofficial costs, in line with the directive of Party General Secretary To Lam.
Vice Chairman of the Ho Chi Minh City People's Committee, Vo Van Hoan, said that the city will have proper policies to recognize and honor the sponsors. Regarding the proposals related to investment procedures, he noted that the Chairman of the Ho Chi Minh City People's Committee has directed the establishment of a one-door center at the city's People's Committee headquarters to receive investment project documents. Directors of departments will provide detailed guidance and address issues of businesses to reduce and simplify administrative processes.
Joining hands to build large-scale projects
Ms. Le Thi Thu Thuy, global CEO of VinFast, proposed solutions to help Ho Chi Minh City become a model for green transformation, including establishing low-emission zones in the city center, expanding electric buses, developing fast-charging stations, converting taxis and delivery vehicles to electric vehicles, and piloting a carbon credit market in the transportation sector. Vinfast is ready to accompany the city in this initiative.
Vice Chairman of the Ho Chi Minh City People's Committee, Vo Van Hoan, highly appreciated this proposal. He said that the city has chosen Can Gio District as the "green district." He also requested that Vingroup quickly implement the agreed-upon initiatives, such as developing charging stations and converting vehicles.
Chairman of AA Architecture Construction Joint Stock Company, Nguyen Quoc Khanh, hoped that Ho Chi Minh City would support the wood export industry to achieve a turnover of US$18 billion this year. He proposed the construction of a large-scale exhibition center, similar to those in Italy and Singapore, to boost domestic production and attract tourists. Vice Chairman of the Ho Chi Minh City People's Committee, Vo Van Hoan, confirmed that the city has already planned several locations for this purpose.
According to CEO of Vietnam-based VNG, Le Hong Minh, Ho Chi Minh City's Financial Center should be treated as a special zone, similar to export processing zones, with its own management and tax mechanisms. He also proposed the financial center needs to support and cooperate with the Singapore Financial Center.
Chairperson of the Board of Directors of Dai Dung Metallic Manufacture Construction & Trade Corporation (Dai Dung Corporation), Trinh Tien Dung said that his company is now present in 60 countries, participating in major projects such as the Japanese metro and the underwater rail tunnel from Germany to Denmark. With the current capabilities, he affirmed that the company can carry out large infrastructure projects in Ho Chi Minh City. Dai Dung Corporation has discussed with large companies such as Hoa Phat, Coteccons, and An Phong to establish a Vietnamese joint venture to carry out major projects such as metro lines. The goal is to create jobs, ensure progress, maintain quality, and optimize costs. Additionally, the joint venture will collaborate with domestic and international investment funds and banks to form a comprehensive investment ecosystem.
