HCM City vows to protect foreign investors - HCM City vows to protect foreign investors - Website Ho Chi Minh City
Ho Chi Minh City will do its utmost to protect the safety and property of foreign investors, the city’s top politician has said.
Chairman of the municipal People’s Committee Le Hoang Quan held a May 15 working session with representatives of some foreign consulate generals based in the city regarding recent incidents in Ho Chi Minh City and surrounding localities during which some extremists had destroyed the property of foreign enterprises.
Quan shared his concern about these acts, saying they violated the law.
“ HCM City always sees investors as part of its economy, making great contributions to the city’s development,” he stressed.
To deal with the incident, the municipal leaders have instructed authorised agencies to ensure the safety of foreign businesses, he said.
Representatives of the municipal Federation of Trade Unions and the management boards of industrial zones (IZs) and export processing zones (EPZs) have met with foreign investors to reassure them.
Quan declared that any act that affects the life and assets of investors is a violation of law and those who commit these acts must compensate for the damage they caused and will be punished under the law.
The city has directed IZ and EPZ management boards to immediately repair damaged fences and facilities, he said, adding it will propose the Government reduce taxes for affected businesses.
At the session, foreign Consul Generals expressed their worries about instability at IZs and EPZs in some localities, proposing HCM City and surrounding localities intensify measures to ensure security for foreign-invested businesses.
They expressed their wish that the city will provide proper support for the damaged enterprises.
Earlier, the HCM City People’s Committee also had a working session with representatives from foreign businesses’ associations who raised concerns about measures to be taken by the Government and local authorities to help the affected enterprises resume their operations.
A representative of the Republic of Korea businesses’ association said that the municipal authorities have taken positive moves to protect foreign businesses over the past two days, expressing hope that they will maintain effective security measures.
Meanwhile, those from Malaysia , the Philippines , Hong Kong and Taiwan ( China ), the US and Europe expressed hope for tightened security measures to protect the life and assets of businesses.
Chairman Quan affirmed that the city never accepts acts in a way that harms investors, adding that it will strictly punish those who exercise extremist actions and destroy businesses’ property.
He thanked investors for their contributions to the city’s development, reiterating that Vietnam is a country with political stability and social safety and anyone who harms foreign investors and businesses will be strictly treated.