A view of HCM City (Photo: baodautu.vn)HCM City (VNA) –Information on investment procedures and incentives were updatedto businesses and investors at a dialogue organised by the Department ofIndustry and Trade of Ho Chi Minh City on March 31.
According to Vice Director of the department Le Huynh Minh Tu, the country's biggest hub is hometo nearly 1,900 representative offices of foreign traders, many have made remarkable contributions to the city's socio-economicdevelopment in particular and Vietnam in general.
Participants at the dialogue (Photo: VNA)The department has planned to organisemeetings and consultations to share experience and promote cooperation,focusing on investment and trade activities by each market group and commoditygroup for Vietnam, he said.
Meanwhile, representatives from themunicipal Tax Department said the agency has accelerated the applicationof technology in declaring and submitting tax documents.
Pham Tuan Anh, deputy head of the foreign economic division of the municipal Departmentof Planning and Investment, said that the city's authorities encourage orientedactivities such as labour training, using local labourers, research and development (R&D), and export.
The city’s incentives for investment will focus on corporate tax, importand export tax, land use and rental fee, among others, he noted.
Statistics show that so far this year, over 74.8 trillion VND (3.27 billion USD) of investment was disbursed inHCM City, up 7.3 percent year-on-year.
Foreign investors poured 406.6 million USD into HCM City from January 1 – March20. Notably, the capital from Singapore, the Republic of Korea, and Japanaccounted for 74.4 percent of the total of newly-registered capital.
The city had 10,533 validinvestment projects worth 52.89 billion USD asof March 20./.
