HCM City (VNA) – Authoritiesof Ho Chi Minh City had a roundtable with Japanese businesses onDecember 14 to tackle difficulties facing the firms and share information aboutthe southern economic hub’s investment cooperation demand.

Chairman of the HCM City People’sCommittee Phan Van Mai said such a meeting hasbeen held for 22 times so far. Aside from tackling difficulties and obstacles,local officials also wish to listen to businesses and investors’ feedback andsuggestions so as to create a favourable policy environment for economic,investment, and trade cooperation.

As Vietnam and Japan recentlyupgraded bilateral relations to a comprehensive strategic partnership after 50years of diplomatic ties, discussing development orientations is a timely stepto help implement the two countries’ cooperation framework in the new period,he noted.

Japanese Consul General in HCM City OnoMasuo said that the year 2023 marks an important and special milestone in theVietnam - Japan relations as seen in many exchanges, high-level meetings, andthe upgrade of bilateral ties to the comprehensive strategic partnership forpeace and prosperity in Asia and the world. The two countries are alsopreparing to carry out the Vietnam - Japan Joint Initiative in the fields ofinnovation, digital transformation, and consolidation of supply chains,including developing supporting industries and a skilled workforce to ensure productionstability.

Japanesebusinesses and investors are highly interested in the National Assembly’sResolution 98/2023/QH15 on piloting some specific mechanisms and policies forthe development of HCM City, he said, noting that they hope it will support thedynamic and pioneering development of the city, an important contributor to theVietnamese economy.

Mizushima Kozo, Chairman of the Japanese Chamber of Commerce and Industry inHCM City (JCCH), said with 1,053 members, the JCCH now has the third largestmembership among 100 overseas Japanese business associations. Its membershiphas doubled over the last 10 years, showing HCM City’s attractiveness toJapanese businesses and investors.

He cited a recent survey conducted bythe JCCH as showing that Vietnam ranks second, after the US, in terms of thedevelopment potential index with 90% of the interviewed businesses saying theywant or plan to expand operations in the time ahead.

Pham Trung Kien, Deputy Director of the municipal Department of Planning andInvestment, said HCM City is currently home to 12,300 foreign investmentprojects totalling 57.25 billion USD in capital. With 5.7 billion USD, Japanaccounts for nearly 10% of the total foreign investment, ranking third.

The fields recording much Japaneseinvestment include processing - manufacturing, wholesaling, retailing, automobileand motorcycle repair, real estate, science - technology, and information andcommunications.

To create optimum conditions for investors’ activities, HCM City hasunceasingly reformed administrative procedures and boosted information technologyapplication to improve transparency. It has also worked to eliminate unnecessaryadministrative procedures and business conditions, stayed creative and flexibleduring policy implementation, and increased dialogue with businesses, accordingto the official./.