During a reception given by Chairman of the municipal People’s Committee Nguyen Thanh Phong, Huh said that Korean businesses hope to receive further support from municipal authorities during their investments, helping to foster the development of both investors and the city, while also enhancing fruitful RoK-Vietnam cooperation relations.

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Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong (R) and Chairman of the Federation of Korean Industries (KDI) Huh Chang-soo

Ho Chi Minh City has proven itself as an alluring destination for foreign investment with half of this in Vietnam being run from the city, he pointed out, emphasizing that investors from around the world will come to the city, and Vietnam more generally, to capitalize on its advantages and potential.

With a view to building Ho Chi Minh City into a smart urban area and regional economic, financial, and sci-tech hub, the city’s leading officials have been consistent in rolling out the red carpet for foreign investors, including those from the RoK, said Chairman Phong.

The city is currently prioritizing projects in urban infrastructure, electronics, food processing, engineering, and information and technology, he said, affirming that municipal authorities commit to accompanying the investors in removing any bottlenecks and ensuring that they have successful business in the locality.

Registering more than USD 4.8 billion in 1,530 projects in Ho Chi Minh City, the RoK is currently the third largest investor among the 98 countries and territories investing in the city. Some 2,000 Korean firms are investing in the city, many of whom have built their own brands and prestige in the Vietnamese market.

Source: VNA