US enterprises look to expand investments in Ho Chi Minh City

15:40 | 15/09/2015 Economy

A delegation from the US Commerce Association led by US Ambassador to Singapore Kirk Wagar had a working session with leaders of the People’s Committee and departments in Ho Chi Minh City to seek cooperation and investment opportunities in the city.

US enterprises look to expand investments in Ho Chi Minh City

Deputy Chairman of the municipal People’s Committee Tat Thanh Cang said that the city is looking to attract investments in infrastructure for seaports, aviation, railways and public transportation as well as in health, education, advanced technology and finance and banking.

The city will continue to create favourable conditions for foreign investors, including those from the US, Cang added.

According to Ambassador Wagar, there are around 26,000 US enterprises operating in Singapore, over 80 percent of which want to expand investments in other regional countries, with a majority eyeing Vietnam.

After the visit, the delegation will inform US businesses in Singapore of Ho Chi Minh City’s investment demands, he pledged.

According to the municipal Department of Planning and Investment, there are now 245,000 domestic and 5,000 foreign-invested enterprises along with representative offices of more than 3,000 international companies and associations operating in the city.

The city – Vietnam’s largest economic hub – also has an abundant workforce and tops the nation in terms of skilled workers./.

Source: VNA