City calls for investment in 133 development projects

15:41 | 18/10/2017 Economy

Ho Chi Minh City calls for investment in 133 projects, including 73 transport infrastructure development projects, 21 urban refurbishment and resettlement schemes, 11 education projects and seven flood reduction plans.

Tran Vinh Tuyen, Vice Chairman of HCM City People's Committee, calls for more investment to the southern economy - Credit: NDO

The information was announced at an investment promotion conference organised by the HCM City municipal People's Committee on October 11, aimed at introducing potentials and calling for investment in transport infrastructure, urban development and industrial parks in the southern economic hub.

Speaking at the opening ceremony, Tran Vinh Tuyen, Vice Chairman of HCM City People's Committee, emphasised that the city is a special urban area with a leading role in attracting investment and promoting development in the southern key economic region in particular and throughout the country in general.

The vice chairman also called on businesses to invest in 113 projects, focusing on 13 key sectors of industry and services, developing new urban areas, flood prevention and environmental protection programmes, as well as conservation and social housing projects...

Pham Thiet Hoa, Director of Centre for Trade Promotion and Investment of Ho Chi Minh City said that the southern economic hub now contributes 21% of GDP, 1/3 of the national budget, 1/5 of total export turnover, and 30% of total FDI projects in Vietnam.

HCM City introduces prospective projects to foreign investors - Credit: NDO

To attract future investment, HCM City will continue to improve its business environment, minimising administrative procedures, and preparing labour resources and land funds to better meet the needs of foreign investors.

Giving her assessment on the environment for investment in HCM City, Tina Phan, Director of Indochina Region Department under the Hong Kong Trade Development Council, said that HCM City is a dynamically developing city and an attractive investment destination for foreign businesses. She revealed that Hong Kong investors are particularly interested in transport infrastructure development and waste water treatment projects in the city.

According to Tina Phan, to effectively attract investment, the city should simplify administrative procedures, support ground clearance and actively share project information with investors. The involvement of experienced investors with strong financial backing in strategic projects would drive a robust growth for the city in the coming years, she added.

After the two day conference, domestic and foreign businesses will join a field trip to explore several local projects calling for investment, including the urban railway No. 1 (Ben Thanh - Suoi Tien), the central road and thematic park for Tay Bac Urban Area, and Hiep Phuoc Industrial Zone.

Theo NDO