04/10/2019 09:21 GMT+7 Email Print Like 0

HCM City pledges favourable conditions for British investors

Ho Chi Minh City promises to create favourable conditions for foreign enterprises, including those from the UK, to make long-term investment in the city, a municipal official said on October 3.

While receiving Conor Burns, MP, Minister of State at the UK’s Department for International Trade, Vice Chairman of the HCM City People’s Committee Le Thanh Liem rejoiced at the positive development of relations between the city and the UK, and acknowledged the performance of British investors in the southern largest economic hub.

HCM City will host a roundtable next month in order to create conditions for British firms to directly discuss with local leaders, thus removing difficulties hindering their investment and business operations in Vietnam, he said.

Liem thanked the UK for its support in implementing the smart urban building project, and pledged to facilitate the implementation of the project’s components.

HCM City stands ready to promote educational cooperation with the UK, he said, highlighting coordination between the two sides in organsing an exhibition on educational equipment and technologies in the city in early 2020.

For his part, Burns affirmed the British Government’s resolve to enhance trade ties with Vietnam in general and its localities in particular, including HCM City, helping to deepen the relationship between the two countries.

British investors highly valued HCM City’s development potential, the official stressed, expressing his impression for the city’s dynamic development.

According to Burns, HCM City and the UK still boast a lot of cooperation potential in the spheres of finance, banking, renewable and clean energy. Besides, British enterprises hope to boost collaboration with HCM City in people-to-people exchange, education and smart urban building.

The UK is now HCM City’s biggest trade partner with two-way trade reaching 761 million USD in 2018. The UK ranks 11th among 106 countries and territories investing in the city, with 147 projects worth over 600 million USD.

HCM City and the British Consulate General are joining hands in a project to develop a smart ticket system for the city’s public transport network.
VNA/VNP