Ho Chi Minh City pledges to cut 30% of administrative procedures to welcome new wave of FDI

Ho Chi Minh City is cutting at least 30% of administrative procedures and quickly and synchronously resolving business problems to welcome a new wave of FDI investment into the "super" city.

On October 30, the Ho Chi Minh City People's Committee organized a meeting between City leaders and the Foreign Invested Enterprise Community in 2025.

At the conference, many foreign business associations assessed that with its strategic location, improving infrastructure system and high-quality workforce, Ho Chi Minh City is still the top attractive investment destination for global investors.

Mr. Erick Contreras, Vice President of EuroCham Vietnam, assessed that after the merger, the next stage in the City's development journey will be even more breakthrough. Orienting the City to become an International Financial Center (IFC) will open up a new position for Vietnam - not only as a place to attract capital flows, but also as a center for managing and coordinating capital flows in the region.

“We believe that an effectively and transparently managed financial center will be a launching pad for innovation in green finance, thereby promoting sustainable growth and putting Vietnam on the international map,” Mr. Erick Contreras emphasized.

Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc talks with businesses on the sidelines of the conference - Photo: PQ

However, according to the business community, administrative procedure reform is still an urgent requirement for Ho Chi Minh City to maintain its investment attraction in the coming time.

Mr. Okabe Mitsutoshi, Chief Representative of the Japan External Trade Organization (JETRO) in Ho Chi Minh City, recommended that the City government continue to simplify administrative procedures, improve the legal framework and enhance transparency.

According to the survey results of the current situation of Japanese enterprises operating abroad in 2024 announced by JETRO in November 2024, the top three risks to the investment environment in Vietnam include: complicated administrative procedures (62.4%), increasing labor costs (58.9%), incomplete legal system, lack of transparency in implementation (57.8%).

In the survey, the percentage of businesses that consider administrative procedures complicated and the legal system incomplete and lacking transparency in implementation in Vietnam is higher than the average in the ASEAN bloc.

"We respectfully request the City government to continue to simplify administrative procedures such as: business establishment procedures, import procedures, work permits... If the City government pays attention to implementing the above issues, it will promote and attract more new investment projects from Japanese enterprises," Mr. Okabe Mitsutoshi suggested and affirmed that JETRO will continue to play the role of a bridge between Japanese enterprises and the City government.

Similarly, Mr. Travis Mitchell, Executive Director of the American Chamber of Commerce in Vietnam (AmCham), acknowledged that streamlining the state apparatus and reducing cumbersome administrative procedures will reduce the procedural burden for businesses.

However, the challenge lies in implementation. During the transition period, there may be delays in processing and decision-making.

“We understand that such changes take time to stabilize, and AmCham wants to support this process. AmCham businesses are ready to cooperate with the Government in capacity building, through training programs and technical assistance to bring specific and measurable results,” Mr. Travis Mitchell suggested.

After listening to the investors' recommendations, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that the City continues to consider administrative reform as a breakthrough.

The city is cutting at least 30% of administrative procedures to reduce time and costs for businesses. At the same time, reforming service attitudes, shifting from a management mindset to a business service mindset.

The head of the City government affirmed that the government will accompany businesses and protect the legitimate rights and interests of investors, quickly and synchronously resolve businesses' problems.

"The success of FDI enterprises is also a measure of the city's management capacity and investment environment," Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc emphasized.

Source: https://baodautu.vn/tphcm-cam-ket-cat-giam-30-thu-tuc-hanh-chinh-de-don-lan-song-fdi-moi-d425783.html