Saturday, 16 Dec 2017

Ho Chi Minh City invites investment in 133 projects

Updated at Friday, 13 Oct 2017, 11:25
The Hanoitimes - Ho Chi Minh City, Vietnam’s biggest economic hub, on Wednesday called for investment in 133 projects at an investment promotion conference.
Of the projects, 73 are related to transport infrastructure, five to urban technical infrastructure, seven to flood reduction, three to agriculture, one to manufacturing, four to commerce and services, 21 to urban refurbishment and housing resettlement, 11 to education projects, one to health project, and four to culture and sports.
Special projects that the city gives top priorities in calling for investment include the Metro Line 1 Ben Thanh-Suoi Tien, the Metro Line 2 Ben Thanh-Tham Luong, a 100ha science and technology park in District 9 and the Thu Thiem urban area in District 2.
Ho Chi Minh City wants investment in 73 transport infrastructure projects.
Ho Chi Minh City wants investment in 73 transport infrastructure projects.
Besides, export processing and industrial zones in the city are also inviting investment electronics, information technology, mechanical engineering, medical equipment, pharmaceutical chemistry and food.
Pham Thiet Hoa, director of the Investment and Trade Promotion Center of Ho Chi Minh City, said that the city is currently contributing 21 percent to the national GDP, one third of the national budget, one fifth of the export revenue and 30 percent of FDI projects in Vietnam.
In the coming time, the city will continue to improve business climate, streamline administrative procedures as well as ensure sufficient human and land resources to meet demands of foreign investors.
According to Hoa, the city hopes that the investment promotion conference would enable Vietnamese and foreign investors to understand more about the city’s investment environment and policies and join hands with it to develop it into a smart city and a city good for living in.
Calling for investment in these projects also seeks to quickly turn the city into one of the region’s largest economic, financial, commercial, scientific and technological hubs, he said.
Tina Phan, Director for Indochina at the Hong Kong Trade Development Council, said that the Vietnamese southern economic hub is a dynamic city and an attractive destination for foreign firms. Hong Kong investors are particularly interested in transport infrastructure and sewage treatment projects in the city, she said.
Simplifying administrative procedures, supporting land clearance and sharing information with the investors will help the city attract more investments, she said.
​Phuong Thao
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