Investment Mart 2005 opens in HCM City

The 2005 Investment fair opened in Ho Chi Minh City on Nov. 8 to introduce projects of both State-run and private sectors calling for investment, and create opportunities for businesses to access foreign investment

During the two-day fair, which is being attended by more than 200 foreign entrepreneurs, Vietnamese businesses will introduce 132 projects on infrastructure construction, real estate, high technology, information technology and services.

Le Thanh Hai, Chairman of the HCM City People’s Committee, informed foreign investors of the areas that the city is encouraging investment in and the specific support and preferential policies for each project.

Hai said that the city has decided to establish three inter-branch working teams to help remove obstacles for domestic and foreign businesses and solve land issues for investors. The municipal authorities continue to widely and drastically implement the one-door administrative mechanism, especially in licensing investment projects and supporting investors to implement licensed projects.

Bela Hegedus, Executive Director of the European Chamber of Commerce (Eurocham), said Eurocham would provide preferential support by promoting and creating favourable conditions for European companies to invest in Vietnam.

During the fair, Eurocham will not only represent European businesses operating in Vietnam but will also advertise Vietnam to the European business community and will work as a bridge between Vietnamese and European partners, Hegedus said.

Five agreements and contracts on capital arranging and consultation for an underground car park at the Le Van Tam Park were signed between the Investment and Development of Underground Space Company and Zublin International, Chesterton and Grant Thorton, Sabeco, an Bao Minh companies.

The fair was jointly organised by the Investment and Trade Promotion Centre (ITPC) and the city’s Department of Planning and Investment (DPI) vice with funding from VinaCapital, HSBC Vietnam, Baker & McKenzie, CB Richard Ellis, Chesterton Petty Vietnam, Frazers Law Company, Gannon Vietnam, Indochina Capital Corporation and United Overseas Bank.

(Source: ITPC)