Ho Chi Minh City is the large center of economic, cultural, social and scientific technology in the South. With favorable geopolitical position, abundant labor force and relatively developed economic sectors, especially the private sector, the system has created a relatively good and synchronous economic infrastructure. However, in order to make a bigger contribution, step by step become the big center of economics, finance, trade, science and technology of the country as well as Southeast Asia, Ho Chi Minh City is also facing many challenges.
First of all, the infrastructure does not keep pace and hinder the fast and sustainable development of the city. In addition, high pressure on issues such as environmental pollution, investment in hospitals, schools, commercial infrastructure. Although we are leading the country in terms of total FDI capital, in recent years, Ho Chi Minh City is falling far behind other localities in attracting investment capital. From 1997 to 2016, the total investment capital of the FDI sector in the total investment capital of the city has been decreasing since 2007 and is lower than the national average. FDI attraction of Ho Chi Minh City in the period of 2011-2015 reduced 32% compared to the period of 2006-2010.
Along with that, export turnover of Ho Chi Minh City from the proportion of 56.5% (in 2000), to 2016 only 18% of the total export turnover of the country. Service, industry are the strength of Ho Chi Minh City, have shown signs of slowing down. In the period of 2011-2015, the city’s services will increase by 11.2%/year, lower than the period of 2006-2010 (12.5%/year); Industrial production increased by 7.6%/year, also lower than that of the previous five years (10.3%/year).With that situation, on the morning of March 17, 2018, People’s Committee of Ho Chi Minh City hosted a meeting between leaders of the city and enterprises in the area with the participation of Secretary of the HCM City Party Committee – Mr. Nguyen Thien Nhan, Chairman of the People’s Committee of HCM City – Mr. Nguyen Thanh Phong and many leaders of departments. , the sector with the theme “Breakthrough the mechanism, together with enterprises to develop Ho Chi Minh City fast and sustainably“.In order to create more favorable conditions for enterprises to rest assured business investment, Chairman of the People’s Committee of Ho Chi Minh City. Ho Chi Minh City Nguyen Thanh Phong committed to business with many important contents. Mr. Phong said the leaders of the city would reduce the number of meetings by 30%, taking the time to get to grips with the difficulties of the business. The city also strives to solve the investment procedures of the interdisciplinary working group on investment reduced 50% of the time compared with regulations. Another important issue pledged by the city’s leaders is that corporate audits will be integrated and only once a year. In addition, the city will set up an interdisciplinary working group on land in 2018, to support ground and land for enterprises, creating the best conditions for production and business. Besides, the city will accelerate the program to connect banks, enterprises, stimulate investment, set up fund development projects, financial compensation funds to support the investment projects. Sharing and encouraging enterprises at the meeting, The City Party Secretary – Mr. Nguyen Thien Nhan affirmed the important role of the business community for the development of the city. Also, the Secretary of the City Party emphasized the implementation of the Resolution No. 54 of the National Assembly on specific mechanisms and policies for the developed city need the cooperation of enterprises.The City Party Secretary also informed that there are 127 projects with total investment capital of over 500 billion dongs waiting for enterprises to research and invest. Ho Chi Minh City has just approved 6 resolutions to implement specific policy mechanisms, including the administrative reform program which in the business proposals mentioned a lot. The city views the administrative reform program as the driving force to create more breakthroughs, to meet the needs of enterprises, to promote the economic development.VietLaw Solutions Firm is honored to be invited to attend the conference entitled “Breakthrough the mechanism, together with enterprises to develop Ho Chi Minh City fast and sustainably“.With a good understanding of the business environment in Vietnam as well as international experience, VietLaw Solutions Firm has managed and effectively dealt with many legal issues in business and trade for many enterprises inside and outside of the country as well as investors from many countries. With the valuable experience accumulated in many years of operation in the legal field, VietLaw Solutions Firm was invited to be the delegate for discussion and comment at the meeting, to Co-meeting with the Conference contributed to the development of enterprises in the period of deep economic integration with many preferential policies of the Party and the State.
VIETLAW SOLUTIONS FIRM.