HCM City solicits investment in infrastructure
Ho Chi Minh City’s authorities have called on local and foreign investors to invest in the city’s infrastructure.
The growing metropolitan area with 13 million inhabitants is facing problems caused by rapid urban development and struggling with climate-related problems, Le Thanh Phong, head of the Investment and Trade Promotion Centre’s investment promotion division, said.
"The demand for urban infrastructure is forecast to grow as a result of the rapid urbanisation," he told the Infrastructure Vietnam Summit which was held in HCM City last week.
“Traffic problems and flooding have hindered social and economic development.”
The city is soliciting investment of 53 billion USD in 210 projects, mostly in infrastructure, according to the official.
The city requires 42 billion USD for 85 transport infrastructure projects, including 55 roads and bridges, seven in waterway transport, eight in railways, and 15 road works.
It also needs 4.9 billion USD for 36 urban technical infrastructure projects, including drainage systems and wastewater treatment plants.
It plans to develop a satellite city in each of the four directions to help reduce the population pressure and stress on infrastructure in the city centre.
Nguyen Quoc Hien, director of the project preparation investment unit under the Management Authority for Urban Railways, said as a metro and an economic hub HCM City urgently needed to build an urban railway system.
Under a master plan approved by the Government, the city would develop an urban railway system with a total length of 220 km at a cost of 26 billion USD, including eight metro lines, one tramway line and two monorail lines, he said.
“The 220km urban railway system is modest compared to the city’s rapid economic growth and urbanisation.”
"Three of the metro lines have received funding commitments but they account for only 10 percent of the total cost and the remaining 90 percent investment has yet to be tied up," he said.
Tran Duy Binh, Director of KPMG Legal Limited, said lengthy procedures and multiple approvals were among the key irritants faced by foreign investors coming to the country.
It was also difficult and time-consuming to find an appropriate local partner, he added.
As of last month investors from 106 countries and territories had invested more than 45 billion USD in numerous sectors in the city.
- Competence to approve investment policies (02/04/2021)
- National Assembly To Relieve Top State, Government Leaders (02/04/2021)
- Around US$700-million-worth Vietnamese Goods Stuck In Suez Canal (31/03/2021)
- Nearly 40,000 People In 19 Localities Vaccinated Against COVID-19 (29/03/2021)
- GDP Expands Nearly 5% In Q1 Despite COVID-19 Pandemic (29/03/2021)
- GE signs agreements with EVNGENCO 3 to boost largest power plants in Vietnam (28/03/2021)
- Textile FDI down but poised for strong growth: experts (28/03/2021)
- Trade surplus exceeds US$17 bln (26/03/2021)
- Highlights of Government’s Workload and Performance in 2016-2020 Period (26/03/2021)
- Gov’t Chief Holds Phone Talks With Chilean President (26/03/2021)
- Malaysian news portal appreciates Vietnam’s FDI attraction (26/03/2021)
- Malaysian news portal appreciates Vietnam’s FDI attraction (22/03/2021)
- HCMC to get four Japanese-built metro trains in summer (18/03/2021)
- Environmental admin procedure costs surge 39 pct (18/03/2021)
- HCM City: Real estate most attractive to foreign investors in first two months (15/03/2021)
- VN - bright spot in FDI attraction (12/03/2021)
- RoK becomes largest investor in VN (12/03/2021)
- HSBC: VN’s GDP growth poised to rebound 8.1% in 2021 (04/10/2020)
- Gov't has been active in luring high-quality FDI inflows (28/09/2020)
- ADB: Growth in corporate bonds in VN reaches 76% by end of June (28/09/2020)
- Viet Nam has golden chance to attract investment from Europe (29/07/2020)
- EuroCham speaks at the ASEAN Forum on Sub-Regional Development (21/07/2020)
- [EuroCham Webinar] Decision 13 – Final FIT for Renewable Energy in Vietnam (23/04/2020)
- THE SITUATION OF ATRACTTING FOREIGN INVESTMENT IN THE FIRST 3 MONTHS OF 2020 (19/04/2020)
- Key infrastructure projects calling for investment in HCMC (08/07/2019)
- Bac Ninh licenses 116 FDI projects in seven months (22/08/2018)
- Binh Phuoc licenses 24 projects worth $1 billion (22/08/2018)
- Hue targets $56mil in investment this year (15/08/2018)
- Hanoi seeks approval for Vingroup’s $300 million IT park (31/07/2018)
- List of Project Calling For Investment in Lam Dong Province in 2018 (31/07/2018)
- Kien Giang calls for investment in 12 resort projects (31/07/2018)
- Decree amendments open paid TV firms to foreign investment (30/07/2018)
- Vietnam: Opportunities in the Waste-to-Energy Sector (24/07/2018)
- Can Tho City seeks investment for 54 projects worth $5.4 billion (20/07/2018)
- Hoa Lac High-tech Park aims for $1 billion investment in 2018 (19/07/2018)
- Large-scale undersea tunnel to be constructed next year (19/07/2018)
- Investment Plan: SAIGON HUONG NAM RESORT (23/09/2020)
- OVERVIEW OF THE NORTHERN REGION (16/09/2020)
- OVERVIEW OF THE SOUTHERN REGION (15/09/2020)
- A project of specialized factories for manufacturing ICT - DITP ICT accessories (08/08/2020)
- THU THUA INDUSTRIAL ZONE (15/01/2020)
- Map of industrial parks in Vietnam (23/07/2019)
- 493 Projects Invested in Nghi Son Economic Zone and Industrial Zones (09/02/2018)
- Thai Binh Strives to Attract Investment Capital of VND 5000 billion in Industrial Parks and Economic Zones (07/02/2018)
- Vinh Phuc Adds 4 New FDI Projects in Industrial Zones (07/02/2018)
- Dung Quat EZ and Quang Ngai IPs Attracted 258 Projects with a Total Investment Capital of More Than US$ 11 Billion (30/01/2018)
- Solutions to attract Investment Capital into Industrial Parks in Bac Giang Province (19/01/2018)
- Nghi Son Economic Zone and Industrial Zones Received 66 new Investment Projects (08/01/2018)