Business Leaders Advise HCM City on Luring Foreign Investors

Tuan Minh

12:44 14/06/2016

BizLIVE - Young and veteran business leaders have advised Ho Chi Minh City’s authorities on measures to attract foreign experts and investors to the city.

Business Leaders Advise HCM City on Luring Foreign Investors

Ho Chi Minh City at night. (Photo:

At a meeting with Chairman Nguyen Thanh Phong of the HCM City People’s Committee, nearly 50 executives of the Young Presidents’ Organization (YPO) and the World Presidents’ Organization (WPO) put forward proposals regarding infrastructure development and policies to attract talents.
Don Lam, CEO of VinaCapital Group and president of YPO Vietnam, proposed the city make land fund available to smooth investments in infrastructure by foreign players as site clearance is commonly sluggish in Vietnam.
Don Lam also suggested the city create more investable products such as bonds or joint stock companies to increase investors’ appetite.
To lure more businesses, Nguyen Quoc Khanh, chairman of the Handicraft and Wood Industry Association of HCMC (HAWA), recommended building a large-scale exhibition center, besides the existing Saigon Exhibition & Convention Center (SECC).
Khanh proposed the city build a sizable wood processing and research center as this industry is poised to employ around one million workers by 2020 and is an export staple for Vietnam.
Meanwhile, Vo Sy Nhan, managing director of NP Capital Partner Limited, advised the city to adopt preferential mechanisms such as tax reductions and visa granting to attract expats to work at financial institutions to emerge at Thu Thiem new urban complex.
U.S. businesses namely Cantor Fitzgerald, Weider Resorts, Steelman Partners last month showed their intention to invest up to $4 billion in a mega real estate complex which is set to become a financial center, accommodating foreign and domestic enterprises.
Tieu Yen Trinh, CEO of Talentnet Corporation, a headhunting company, suggested the local government issue special policies to lure talents, especially overseas Vietnamese, and train skilled personnel to meet corporate demand.
Chairman Nguyen Thanh Phong highly valued the comments as the city is asking for special mechanisms to make the city an economic, trade, science-technology and education hub in Southeast Asia.
The YPO, established in 1950 in the U.S., is the world’s premier peer network of chief executives and business leaders. It now has 24,000 members in 130 countries. YPO Vietnam was set up in 1996 and now has 31 members.
The WPO is the next chapter of the YPO experience for members ages 50 and older and was established as a continuation of the lifelong leadership journey that began in the YPO.