HCMC seeks FDI for over 250 projects

09:24 | 27/03/2019
The authorities of Ho Chi Minh City have recently convened a conference to seek FDI source for 255 projects. 
hcmc seeks fdi for over 250 projects
HCMC seeks FDI for over 250 projects

At the conference, the local authorities announced 255 FDI projects including 245 ones seeking social investment in infrastructure development, smart city, and the environment.

In 2018, the local economy progressed vigorously with comprehensive outcomes. Especially, GRDP soared 8.3%. The economic scale accounted for 24.15% of the national economic scale. The city attracted over US$ 7 billion, representing a year-on-year growth of 15%.

So far, the city houses 8,112 FDI projects worth US$ 44.94 billion.

Addressing the conference, HCMC Party Committee Secretary Nguyen Thien Nhan said that in 2019 the city will focus on resolving difficulties for prolong projects; speed up SOEs equitization process; accelerate the project on converting HCMC into a smart city and building a creative urban hub in eastern HCMC; compose and issue a project on logistic development in the city by 2025 towards 2030.

In addition, the city will research a project which will transform HCMC into a financial center; build about 300 hectares of new industrial areas; support high tech application; compose HCMC tourism development strategy by 2030.

The city is working with the International Finance Corporation (IFC) to assess budget collection and spending; conduct credit rating; and release stocks.

Vice Chairman of EuroCham Vietnam Tomaso Andreatta said that a large number of European enterprises selected HCMC thanks to favorable investment and trade environment.

Regarding infrastructure, Mr. Tomaso Andreatta suggested the city accelerate infrastructure projects especially expanding Tan Son Nhat airport; finalizing Ben Thanh-Suoi Tien urban metro project by 2020; handling flooding.

EuroCham stands ready to cooperate with the local authorities to craft planning; build smart and creative city; and attract high-tech FDI.

VGP

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