The mark of Ho Chi Minh City Customs in attracting foreign investment

	Increase foreign investment resources from improving the business environment
	Increasing foreign investment resources from improving the business environment

Deputy Director of Ho Chi Minh City Customs Department Do Thanh Quang and the delegation visited and worked with Intel Vietnam Company

Leading the country in attracting FDI

In 2023, Ho Chi Minh City ranks first in the country with a total registered FDI capital of 5.85 billion USD, an increase of nearly 50% compared to 2022, accounting for 16% of the country's FDI capital. In the first 5 months of 2024, Ho Chi Minh City continues to be in the top position in the country in attracting FDI with 948.9 million USD. Notably, Ho Chi Minh City currently leads the country in the number of valid projects and foreign investment capital, with over 12,000 projects and registered capital of 57.64 billion USD.

For two consecutive years, Ho Chi Minh City ranked first in the country in attracting FDI. According to Chairman of Ho Chi Minh City People's Committee Phan Van Mai, Ho Chi Minh City aims to continue to maintain its pioneering position in 2024 in the field of investment attraction.

Currently, Ho Chi Minh City is highly focused on maintaining its growth target of 7.5-8% this year. Because Ho Chi Minh City's growth makes a very important contribution to the country's overall growth, creating a favorable environment and ensuring investment efficiency.

Besides traditional growth drivers, such as investment, consumption, and export, Ho Chi Minh City also focuses on new growth drivers, such as digital transformation, digital economic development, and green transformation. In the coming time, Ho Chi Minh City will continue to strengthen dialogue and exchange of information to make investment in the right and highly effective direction.

Approach and guide procedures for investors

In addition to preferential solutions and selective investment capital sources, Ho Chi Minh City's FDI attraction results have a significant contribution from Ho Chi Minh City Customs Department in administrative reform and creating a favorable environment for investors.

Sharing about these support solutions, Deputy Director of Ho Chi Minh City Customs Department Do Thanh Quang said that the unit always focuses on reforming procedures and facilitating trade for import-export businesses, especially FDI enterprises, in accordance with the motto of the Customs sector in general and Ho Chi Minh City Customs Department in particular which is "Rapid reform, strong modernization and maximum facilitation" and "Business Community and Customs authorities are reliable partners, accompany to develop."

Accordingly, since FDI enterprises were licensed to invest and build factories, the Customs agency has approached and guided procedures for importing machinery and equipment to create fixed assets, and built a list of tax-free goods, etc until the enterprise goes into production operations, the Customs sector continues to guide procedures on product policies and customs procedures, etc.

According to Deputy Director Do Thanh Quang, the Customs sector always facilitates trade and improves the quality of service for businesses through measures: applying risk management, post-clearance audit, inspection through techniques, advocacy, and encouragement of businesses to participate in voluntary law compliance programs.

In 2023, the import-export turnover of FDI enterprises reached more than 57 billion USD, and in the first 5 months of 2024 it reached more than 22 billion USD. Currently, more than 65% of customs declarations are cleared within 3 seconds, 30% are cleared in just 10 minutes, and less than 5% require physical inspection of goods. From there, it helps businesses shorten customs clearance time, save costs, put goods into production promptly, deliver on time, turn capital quickly, expand production investment, create attractive investment environment, implementing the motto "good reputation spreads far and wide", attracting other investors to invest in Vietnam, etc.

In particular, Ho Chi Minh City Customs Department has 4 sub-departments that carry out customs procedures for import and export goods of FDI enterprises, which are the Investment Goods Management Customs sub-department, High-Tech Customs sub-department, Linh Trung Export Processing Zone Customs sub-department and Tan Thuan Export Processing Zone Customs sub-department. The Departments always pay attention to the quality of public services, civil servants use the motto "Put yourself in the position of people and businesses to solve problems in a reasonable way" to act.

According to Director of the Investment Goods Management Customs sub-departments Le Tuan Binh, there are currently about 4,000 FDI enterprises carrying out regular import and export procedures at the unit. With guidance and updated information for businesses, most FDI enterprises firmly grasp the regulations and comply well with customs laws. Thereby, import and export goods of businesses are largely exempt from physical inspection of goods.