The HCM City People’s Committee has announced plans to hold an investment promotion conference in March.

The upcoming event aims to introduce the city’s investment policies and advantages, hoping to attract domestic and foreign investors, baodauthau.vn reports.

It will also help investors address challenges they face in implementing their projects, the online newspaper also cited the committee as saying.

HCM City took the lead in luring foreign direct investment among 63 localities nationwide in 2018 thanks to its attractive investment climate and effective assistance from local authorities.

Last year, the largest economic hub of Viet Nam granted licences to 1,029 foreign-invested projects with total registered capital of US$785 million, up 22 per cent in number but down 67 per cent in capital compared to 2017.

Meanwhile, the city allowed 236 operating projects to raise their investments by $736.3 million, a yearly hike of 22 per cent in number of projects but equivalent to 33 per cent of added capital recorded in 2017.

During the year, it also permitted foreign investors to contribute capital to and buy shares of domestic businesses worth $5.87 billion, surging 82.3 per cent year-on-year.

HCM City has always supported investors during their projects’ implementation rather than calling for these firms to pump investment in the locality, the city leaders said.

The city will continue to improve its investment environment to create the most favourable conditions for investors, they said. — VNS