HCM City promotes investment opportunities to Australian firms

14:03 | 02/11/2017 Cooperation

With huge potential and many advantages, Ho Chi Minh City will become one of most attractive destinations in the world for Australian enterprises.

Vietnamese Consul General to Sydney Hoang Minh Son speaking at the conference - Credit: VNA

The statement was made by Vietnamese Consul General to Sydney Hoang Minh Son at a conference on investment, trade and tourism promotion in Ho Chi Minh City, held on October 25 in Sydney, Australia.

The conference aims to enhance the cooperation between Sydney and Ho Chi Minh City, as well as introducing the investment and trade environment in the upcoming development strategy.

Speaking at the conference, Consul General to Sydney Hoang Minh Son emphasised that the bilateral cooperation relations between Vietnam and Australia have continuously developed in all fields, particularly in economy and trade, over the past 45 years.

During the course of the past ten years, the two-way trade has doubled from US$3 billion to US$6 billion, however, Vietnam's merchandise exports to Australia accounted for just 1.8% of the total merchandise export turnover of Vietnam and 1.7% of the total import turnover of Australia.

Regarding tourism, Vietnam welcomed 218,000 Australian tourists in the first seven months of this year and around one million Vietnamese people traveled to Australia in 2016.

He also affirmed that the Vietnamese government and diplomatic agencies in Australia will always create favourable conditions to enhance the cooperation between the two sides.

At the conference, Director of Ho Chi Minh City Investment and Trade Promotion Centre Pham Thiet Hoa introduced the city’s business environment and its preferential policies to attract investment.

He stated that Ho Chi Minh City attracted the most foreign investment capital in the country in 2016, with 836 new projects and a total registered capital of US$3.42 billion.

Representatives of the city’s departments and agencies answered many questions and concerns of the Australian and Vietnamese firms on the investment procedures, preferential policies and measures to promote tourism.

After Sydney, the similar conferences will also be held in Melbourne city in Victoria state and then in New Zealand.

Theo NDO