HCMC called on investors to 133 projects including 116 projects calling for social investment, 11 national projects and six new others in Thu Thiem new urban area at an investment promotion conference hosted in the city yesterday.

The conference was hosted by HCMC Investment and Trade Promotion Center (ITPC), chaired by deputy chairman of the HCMC People’s Committee Tran Vinh Tuyen with the attendance of 500 domestic and international delegates.
Among the 116 projects calling for social investment are 64 ones in traffic infrastructure field, five urban technical infrastructure, five anti flooding, three agriculture, one industry, four commerce and service, 21 urban planning and resettlement, six education, one health and four sports and culture.

The 11 national projects comprise six traffic infrastructure, one education and training and one health.

Six projects in Thu Thiem new urban area include one hotel and urban resort, four international standard primary schools and one general theatre.

HCMC calls on investors to 133 projects
HCMC calls on investors to 133 projects

Stating at the conference, deputy chairman Tuyen said that HCMC has become a super city with about 13 million residents. The municipal authority has determined to develop a traffic infrastructure system synchrous with social and economic development speed and resident density, make the city an ideal place attractive to domestic and foreign people.

The city does need the assistance from businesses and financial organizations to do that, Mr. Tuyen said.
According to the city People’s Committee, in 2013 the Government approved an overall social economic development plan by 2020 with the point of view of developing HCMC on a sustainable foundation, maintaining high growth rate and improving residents’ awareness of environmental protection.

To obtain the above targets, HCMC has focused on calling investors to nine groups of services namely finance, banking, insurance; tourism; transport, ports-warehouse-yard; post-telecommunications, information and communication; consultancy; science and technology; health; education and training and four key industries namely mechanics; electronics-information technology; chemical-plastics-rubber; food and foodstuff processing.
In addition, the city has changed economic structure in agricultural field towards urban agriculture.

One door policy

Businesses, domestic and overseas organizations made lot of questions for city leaders at the conference. For instance what HCMC has done to assist foreign investors and startups, the human resource in Vietnam has many problems so there is any way for businesses to invest in Vietnam but do not spend much time and costs on training; what are solutions for Tan Son Nhat Airport overloading; if the city considers setting aside a specific area to test environmental friendly production models.

In reply, office chief of the HCMC People’s Committee Vo Van Hoan said that HCMC needs over $40 billion to invest in projects especially infrastructure ones by 2020. That is a too big investment amount for the city so through the conference, it invites businesses, domestic and foreign financial organizations to invest in these projects.

The city can create the best conditions for businesses to invest in the city, he affirmed.

At present, HCMC is establishing two working groups on investment and construction to implement one door policy for investors. Within its jurisdiction, the city will focus on solving difficulties in investment procedures for businesses.

So far, the city has prepared clean land fund to hand over to investors, approved priority policies for hi-tech, not labor intensive and high added value projects and encourage businesess to develop environmental friendly production models.

HCMC is also ready to provide high quality human resource through training programs locally and abroad and residents’ awareness of self training to meet jobs’ requirements has strongly developed. Therefore businesess can set their mind at rest to invest in the city, said Mr. Hoan.

Deputy director of the Department of Transport Vo Van Tam said that HCMC has combined many solutions to tackle traffic jam in Tan Son Nhat Airport area by building flyovers and Nguyen Thai Son intersection to improve traffic connectivity to the airport. In the upcoming time, the city will broaden Lang Cha Ca intersection, upgrade Hoang Hoa Tham street to connect directly to the airport, broaden Cong Hoa, Truong Chinh and Au Co streets.
The airport’s expansion is still waiting for an adjustment which will be approved by the Prime Minister, said Mr. Tam.

By THUY HAI – Translated by Hai Mien