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HCMC to offer favorable conditions for Japanese businesses

The Saigon Times

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HCMC – The HCMC government has sought to offer business incentives and enhance cooperation with Japanese investors on the city’s development initiatives of e-commerce, logistics, retail, trade and automation industry, among others.

The information was given during the annual roundtable conference between HCMC officials and the Japanese business community held yesterday, November 30.

Japan has launched up to 1,568 projects worth US$5 billion in HCMC between January and November, according to the Japanese Chamber of Commerce and Industry in HCMC (JCCH).

The investments have been laid on a variety of sectors, namely processing and manufacturing, retail and wholesale, automotive, construction and technology.

However, Japanese businesses have faced administrative difficulties in terms of taxes, imports, working permits and relevant regulations, said Nakagawa Motohisa, vice president of the JCCH.

Vo Van Hoan, vice chairman of the HCMC People’s Committee, said the city was committed to standing with the business community to eliminate hurdles and foster operational effectiveness.

The city intends to raise the bar of its human resources and technical infrastructure quality to fuel local socioeconomic growth, satisfying the rising demands of domestic and foreign businesses.

In addition, the authorities of HCMC and representatives from JCCH plan to develop mechanisms to strengthen cooperation on smart manufacturing, clean energy and renewable energy.

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