Ho Chi Minh City attracts US investment
HO CHI MINH CITY - Many US businesses have shown interest in investing in Ho Chi Minh City, Tran Vinh Tuyen, vice chairman of the city People’s Committee, said following a visit to the US as the head of a city delegation to promote trade and investment.
During the visit, speaking at a trade promotion seminar in San Francisco last month, Tuyen offered 10-year tax and land incentives to American investors.
“HCM City will play its role in creating breakthroughs in three key fields – institution, human resource quality and infrastructure – to make the city an attractive and reliable destination for the investors,” he told the seminar.
The city would continue with its administrative reforms and offer more tax and land incentives to attract investors, he said.
Tuyen also met with overseas Vietnamese and executives of top science and technology companies to solicit investment.
He visited the Vietnam Resources Group’s headquarters in California to meet with 10 local IT businesses to outsource software.
A Texas Instrument Co executive said the company plans to invest US$6 billion (Bt210 billion) in Southeast Asia and would study the investment climate in HCM City, according to Tuyen.
The Vietnamese delegation had provided the company with useful information about the Saigon Silicon City project in Saigon Hi-Tech Park, the executive said.
Other businesses also promised to visit and invest in HCM City.
They included Allied Telesis and its partners like Quantus Corporation.