The group also said they were dissatisfied with the progress and unpredictability of legislative and administrative reform as well as the lack of priority given to improvements in infrastructure.

The warning came as foreign sector investors are increasingly questioning whether the City is an attractive place to do business

Le Thanh Liem, vice chair of HCM City People’s Committee, assured the group that the Committee is committed to removing difficulties and obstacles for foreign sector businesses and ensuring their legitimate interests are protected.

Singapore is one of the biggest foreign investor groups in the city, said Mr Liem, noting that the Committee appreciates their contribution to the socio-economic development of the City and surrounding region.