HCM City works on facilitating foreign capital influx

HCM City: Ho Chi Minh City authorities have freshly assigned tasks of stimulating foreign investment attraction, with the municipal Department of Information and Communications asked to suggest measures drawing tech firms into local software and semiconductors sectors. The Department of Planning and Investment, meanwhile, is tasked with joining the implementation of steps to attract direct foreign capital and making recommendations of selective criteria for foreign-funded projects in the southern economic hub. The Department of Industry and Trade is set to propose policies assisting the development of potential supporting industries, while the Department of Natural Resources and Environment comes up with ways to tackle shortcomings for effective use of land sources. Human resources preparations, tax policy recommendations, trade promotion, and business climate improvement are also among the key tasks assigned to relevant departments, agencies, and units. In 2023, the metropolis posted nearly 5.9 billion U SD worth of foreign direct investment, up nearly 50% year-on-year./. Source: Vietnam News Agency