HCM City Plans to Foster Robust Business Environment with Japanese Companies

	HCM City, Hanoi Named in Savills List of Fastest-Developing Cities
	Hanoi, HCM City among 10 Most Affordable Asian Cities for Visitors

The roundtable conference in HCM City on December 9 (Photo: VNA)

At a roundtable organized by the city's Trade and Investment Promotion Centre (ITPC) and the Japanese Business Association of Ho Chi Minh City (JCCH), Vice Chairman Vo Van Hoan highlighted Japan's role as the third largest investor among 127 countries and territories in the city, with investments totaling over 5.88 billion USD across 1,767 projects.

Hoan emphasized the city's commitment to removing barriers to enhance the investment environment, aiming to make Ho Chi Minh City a preferred destination for Japanese businesses. This includes meeting investor demands for technical, social infrastructure, and skilled human resources.

Onose Takahisa, Vice President and head of the tax-customs board at JCCH, pointed out issues with the value-added tax (VAT) refund process, which has caused significant delays and disrupted cash flow for businesses. The local tax authority responded by clarifying regulations and urging Japanese firms to submit complete and accurate documentation to expedite refunds. They have also increased personnel and enhanced IT applications to facilitate tax processes.

Nakagawa Motohisha, Vice President and head of the business environment board at JCCH, raised concerns about the Tan Thuan Export Processing Zone's remaining 17-year land lease. Local authorities presented a development plan for industrial zones from 2023 to 2030, with a vision toward 2045, focusing on attracting high-tech projects and encouraging technological transformation. The city will soon announce criteria and support policies to promote technological innovation, urging companies to adopt green and sustainable production standards.

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