Metro line 1 Ben Thanh-Suoi Tien is one of the city's strategic projects. (Photo: tuoitre.vn)HCM City (VNA) – Ho Chi Minh City prioritises investment in greenhi-tech industries, urban development and transport infrastructure, said ViceChairman of the municipal People’s Committee Tran Vinh Tuyen at an investmentpromotion conference held in the city on October 11.
At the event, the city called for investment in 133 projects, including 73 intransport, 21 in urban improvement and resettlement housing construction, 11 ineducation and seven in flood reduction.
Of those, the metro line 1 Ben Thanh-Suoi Tien, metro line 2 Ben Thanh-ThamLuong, a science and technology park in District 9, and the Thu Thiem 2 urbanarea are billed as strategic projects.
In addition, export processing zones and industrial parks in the city areinviting investment in electronics, information technology, mechanical engineering,medical equipment, pharmaceutical chemistry and food.
Ho Chi Minh City is targeting an average GDP growth of 8.5 percent per yearduring 2016-2020. By 2020, the service sector will account for 56-58 percent ofthe gross regional domestic product (GRDP) and total social investment will makeup 30 percent of the GRDP. The city also aims to raise income per capita to 9,800USD in the next three years.
According to Pham Thiet Hoa, director of the city’s Investment and TradePromotion Centre (ITPC), the city is currently contributing 21 percent to thenational GDP, one third of the national budget, one fifth of the export revenueand 30 percent of FDI projects in Vietnam.
In the coming time, the city will continue to improve business climate, streamlineadministrative procedures as well as ensure sufficient human and land resourcesto meet demands of foreign investors.
Tina Phan, Director for for Indochina at the Hong Kong Trade DevelopmentCouncil, said that the Vietnamese southern economic hub is a dynamic city andan attractive destination for foreign firms. Hong Kong investors areparticularly interested in transport infrastructure and sewage treatmentprojects in the city, she highlighted.
Simplifying administrative procedures, supporting land clearance and sharinginformation with the investors will help the city attract more investments, shesaid.-VNA
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