Making news

HCM City rolls out red carpet for Kazakhstani investors

Ho Chi Minh City is willing to create favourable conditions for foreign businesses, including those from Kazakhstan, to land investment in the southern hub, Chairman of the municipal People’s Committee Nguyen Thanh Phong said on February 20.

Hosting a reception for newly-accredited Kazakhstani Ambassador to Vientam Yerlan Baizhanov on the day, Phong said he rejoiced at the fruitful relations between the two countries in the past time.

However, bilateral cooperation as well as collaboration between HCM City and Kazakhstani localities still lag behind their potential, with the expiration of the Memorandum of Understanding on HCM City – Almaty city cooperation in 2016, he said.

Besides, he informed the guest of the city’s socio-economic development, and its formidable challenges during the process such as environmental pollution and poor infrastructure that fails to meet the population growth.

To this end, Phong expressed his hope that the Kazakhstani diplomat will do his utmost to encourage Kazakhstani firms to invest in the fields of HCM City’s interest, while promoting investment and trade with the Vietnamese southern hub.

Yerlan Baizhanov, for his part, stressed that Kazakhstani businesses have satisfied with business climate in HCM City, adding he will work to enhance dialogue with competent authorities in the locality so that a cooperation deal will be inked with Almaty city soon.