HCMC calls for investment in 210 projects worth nearly VND1.2 quadrillion

Ho Chi Minh City called for investment in 210 projects worth approximately VND1.2 quadrillion (US$51.6 billion) in total

Among the nine areas offered for investment, transport infrastructure takes up 85 projects with a capital of VND923.63 trillion (US$39.7 billion).

According to Secretary of the municipal Party Committee Nguyen Thien Nhan, HCM City targets to maintain a 27-28% contribution to the State budget in 2019, while striving to raise the proportion of its gross domestic product (GDP) contribution from 23% at present to 25%, and GRDP contribution from 8.3% to 8.5%.

In addition, the plan to expand industrial parks will also take into account the construction of new industrial zones of high quality and competitiveness to suit enterprises applying high technology and new technologies. Accordingly, HCM City will allocate 600 hectares for the building of a new industrial park this year, he said.

He added that in early 2020, the city will plan smart creative urban areas, focus on deploying seven breakthrough programs in the period of 2016-2020 and continue to call for investment in nine service industry groups.

By the end of 2018, HCM City had attracted investment worth US$44.94 billion in total from 101 countries and territories around the world. Last year alone, the city’s FDI attraction reached US$7.07 billion, up over 7% year on year and representing 22% of the country’s total FDI inflow.

Chairman of the HCM City People’s Committee Nguyen Thanh Phong affirmed that city leaders treasure the contributions of domestic and foreign investors, pledging to maintain a stable socio-political environment, ensure the legitimate rights and interests of investors, and create favorable conditions for companies to do stable, long-term and effective business in the city.

                                                                                                                      By Vien Nhu