The HCM City Investment and Trade Promotion Centre and the American Chamber of Commerce in Viet Nam held a workshop on Tuesday to solicit US businesses’ feedback on difficulties in operating in Viet Nam.

Speaking at the event, the chairman of the HCM City's People's Committee, Phan Van Mai, said the city is committed to providing ideal conditions for the domestic and foreign business communities by developing infrastructure, institutional frameworks, human resources, and living environments.

It is collecting opinions from local businesses, industry associations and economists on its FDI attraction efforts in 2023-25, and aims to develop the city into a modern service-industrial hub, a frontrunner in the digital economy and an economic, financial, commercial, scientific and technological, and cultural hub in Southeast Asia, he said.

He hoped US firms would share information with the city in the fields of capital market and financial services, digital economy and technology, manufacturing, supply chains and logistics, energy, healthcare and education to improve its business environment and propel growth.

The city would spell out the role of various agencies in mitigating difficulties faced by businesses, especially foreign, he said, adding that it is committed to creating a stable business environment, protecting the legitimate rights and interests of investors, and offering all possible support to US enterprises.

AmCham member companies offered feedback on various issues such as capital markets and financial services, healthcare and welfare, education, the digital economy, energy, taxation, and customs.

Greg Testerman, Chairman of the American Chamber of Commerce in Viet Nam (Amcham), had a positive outlook on Viet Nam's economic prospects and expressed his interest in sustainable finance.

He said foreign investors in Viet Nam now demand higher environmental, social, and governance (ESG) standards.

AmCham is committed to assisting borrowers in Viet Nam to meet the necessary criteria to easily access loans from financial institutions that adhere to strict ESG standards, he said.

The US business community is interested in the city's plans to attract investment in modern technologies and innovation in Thu Duc City, and build a global financial hub.

It hopes the city would offer foreign investors the opportunity to enter the financial market, he said.

AmCham also called for streamlining the visa issuance process for entrepreneurs and investors in order not to miss the opportunity to attract foreign resources.

Susan Burns, the US consul general in the city, commended HCM City's support for American businesses over the years.

She assured it that US diplomats and businesses would always help Viet Nam and HCM City overcome short-term challenges, seize long-term opportunities and create benefits for all parties involved. — VNS