HCMC calls for more US investments in infrastructure, energy

Ho Chi Minh City is seeking more U.S. investment in prioritized sectors like deep-water port construction, road infrastructure, digitalization, clean energy, and finance, said Vice Mayor Ngo Minh Chau.

At a meeting Thursday with visiting Whitney Baird, deputy assistant secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, Chau called on U.S. investors to invest in the city, especially in infrastructure where they have special strength.

HCMC is deploying significant projects like ring roads 3 and 4 to connect HCMC with neighboring provinces, he added.

The U.S currently has 500 investment projects worth $1.3 billion in HCMC, ranking 10th among countries and territories with investments in the city, official data shows.

In reply, Baird lauded the customs clearance cooperation between the two sides upon her visit to the city's Cat Lai port, the country's largest.

Amid the greater impacts of climate change and the need for clean energy, the U.S. official affirmed her country is interested in furthering cooperation with the southern metropolis.

She urged Vietnam and the U.S. to further cooperate in infrastructure development and diversification of supply chains, per targets of President Joe Biden.

The U.S. was the second-biggest export market of HCMC in the first nine months of the year with a revenue of $5.74 billion, up 21.6% year-on-year, accounting for 17.7% of the total, according to the municipal statistics office. The biggest was China with $7.26 billion, up 1.9% and making for 22.4% of the total.

Earlier, U.S. Consul General in HCMC Susan Burns affirmed the U.S. prioritizes to boost trade with the city at a Monday meeting with municipal Party chief Nguyen Van Nen on the beginning of her term.

She suggested the two nations elevate bilateral ties to "strategic" level next year, on the 10th anniversary of their "comprehensive relationship".