Ho Chi Minh City’s business climate and business development strategies were introduced at an investment promotion conference in Sydney, Australia on October 25.
Ho Chi Minh City’s business climate and business development strategies were introduced at the conference held in Australia on October 25. (Photo: VNA)
Sydney (VNA) – Ho Chi Minh City’s business climate and businessdevelopment strategies were introduced at an Investment-Trade-Tourism Promotion conference inSydney, Australia on October 25.
The event, held by the city’s Investment and Trade Promotion Centre(ITPC), was attended by Vietnamese Consul General to Sydney Hoang Minh Son,representatives from the Australia-Vietnam Business Council and Vietnamese andAustralian investors in services, tourism, accommodation and real estate.
In his opening remarks, Son said that Vietnam and Australia have become importanttrade partners, with bilateral trade doubling to 6 billion USD in 2017 from 3billion USD in 2007.
Both sides boast huge potential for bilateral cooperation, he said, stressingthat Ho Chi Minh City will become an attractive destination for Australianinvestors.
He noted that the Vietnamese Government and diplomatic agencies in Australiacreate favourable conditions for ties between businesses and authorities of thetwo countries. The conference served as a venue for enterprises from both sidesto seek cooperation opportunities, he stated.
For his part, ITPC Director Pham Thiet Hoa said that the city was the mostattractive destination in the country for foreign investment in 2016 with 836new projects worth 3.42 billion USD, 14 percent of the nation’s total investment.In the first nine months of 2017, the city continued to lead cities andprovinces nationwide in foreign direct investment with total registered capitalof 3.74 billion USD, he said.
The southern hub is working to improve administrative procedures, issue newlaws, give out initiatives and improve infrastructure to lure foreigninvestment, he emphasised, adding that the city is prioritising investment inmechanics, information and technology, pharmaceutical chemistry and foodprocessing.
Australian businesses’ queries on investment procedures, preferential policiesand measures to promote tourism were responded at the conference.
Similar promotion conferenc♚es will be held in Melbourneꦛ and New Zealand.-VNA
Vietnam and Australia have opportunities to advance their economic and trade ties, said Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan.
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Ho Chi Minh City’s business climate and business development strategies were introduced at the conference held in Australia on October 25.
