3,000 overseas Vietnamese invest US$1.94 billion in HCMC

SGGP
By the end of 2019, about 3,000 overseas Vietnamese entrepreneurs were investing in HCMC with the total capital of VND45 trillion (US$1.94 billion), reported Overseas Vietnamese Committee of Ho Chi Minh City on February 28.

The area where books given by Dr. Vo Tan Huan to HCMC University of Technology are shelved in HCMC University of Technology (Photo: SGGP)

The area where books given by Dr. Vo Tan Huan to HCMC University of Technology are shelved in HCMC University of Technology (Photo: SGGP)

Mr. Vo Thanh Chat, deputy chairman of the committee, said that the committee received over 1,500 overseas Vietnamese and their relatives who come to learn about the law, policies and relevant procedures to do business in HCMC. The committee continued performing its role as a bridge connecting overseas Vietnamese and domestic activities in various fields including economic field, science and technology, culture, education and society. Of these, Vietnamese American Dr. Vo Tan Huan sent over 1,300 books worth VND3.4 billion ($146,000) from Singapore to present to HCMC University of Technology.
Overseas Vietnamese experts, entrepreneurs and students have built five startup projects including the one on AI application in medical image analysis for diagnosing eye diseases, Techhome, Calcicum Phosphate granules and application in Vietnam, E-lift-a software which helps save energy and protect the environment with ride sharing service, Safe Food using Blockchain helping consumers have enough information about food.
Meantime, the committee has reported difficulties, which overseas Vietnamese face when doing business in the city, to authorized agencies to solve and protect legitimate benefits for overseas Vietnamese.
According to the committee, overseas remittances to HCMC topped $5.6 billion in 2019, of which 72 percent ran into production and trading. At present, over 400 overseas Vietnamese experts and intellectuals register to work the city in long term and over 200 intellectuals and experts directly cooperate with universities, research institutes, hi-tech parks and hospitals in HCMC.
3,000 overseas Vietnamese invest US$1.94 billion in HCMC ảnh 1 Australian Vietnamese Chau Ba Long, director general of Minh Nguyen Supporting Industries Joint Stock Company (2nd, R), invests in supporting industry field in the city (Photo: SGGP)

By Manh Hoa – Translated by Ngoc Thanh

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