HCMC hopes for more Japanese investment: Party chief

Speaking as head of a delegation in Japan's Osaka on Tuesday, Ho Chi Minh City Party Secretary Le Thanh Hai said he hoped more Japanese investors, including the Kansai Economic Federation, would invest in HCMC.

Mr. Hai was leading a delegation of senior officials and representatives from 30 businesses in HCMC to meet with Japanese leaders and enterprises at the Kansai Economic Federation meet in Osaka Province on Tuesday.

He said there was a lot of potential and opportunities for both countries to cooperate in the field of advanced technology. HCMC in particular is encouraging investments in the industrial sector and in human resource development.

Mr. Hai stressed that friendship and cooperation in various fields between Osaka and HCMC in particular, and Vietnam and Japan in general has developed greatly and benefited both countries in the past.

He admitted the many drawbacks and shortcomings in the city infrastructure and lack of hi-tech human resource skills, but pledged to create advantageous conditions for Japanese companies to invest in HCMC. For instance, the city is willing to reserve 1-2 hectares of land exclusively for a Japanese industrial zone.

Investors from the Kansai Economic Federation requested HCMC leaders to pay more attention to reducing administrative red tape and speedier and effective tackling of problems that Japanese investors are likely to face. They believed this would greatly help in boosting cooperation and increasing investment, not only in the industrial sector but also in tourism and exchange of human resources between the two countries.

Besides other problems addressed, Japanese businesses expressed serious concern on shortage of electric power and water supply in HCMC.

Earlier, Mr. Hai along with his delegation met with Hiramatsu Kunio, Mayor of Osaka City and Kimura Shinsaku, Deputy Mayor. Mr. Hai hoped that they would support and help create conditions for Japanese businesses to invest more in HCMC in the future.

By X.Hanh – Translated by Hai Mien

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