HCMC calls for $12.4 billion of investment into Hoc Mon and Cu Chi

PSNews - The Ho Chi Minh Municipal People's Committee held a conference on investment promotion into Hoc Moc district and Cu Chi district on April 12. State President Nguyen Xuan Phuc attended the conference. 

The conference attracted the attention of over 550 domestic and foreign investors.

Spearking at the conference, President Phuc has urged the suburban districts of Cu Chi and Hoc Mon in Ho Chi Minh City (HCMC) to review all public investment projects, especially their feasibility, and improve the business climate to attract investment.

HCMC calls for $12.4 billion of investment into Hoc Mon and Cu Chi  -0
State President Nguyen Xuan Phuc attending the conference. 

He said Hoc Mon and Cu Chi would provide new growth for HCMC, underscoring that it was important to carefully select projects to call for investment that could optimise the potential and advantages of the two suburban districts. 

To reach this goal, State President Nguyen Xuan Phuc asked the two districts to improve state management in all fields, including the fight against corruption and wastefulness. They must also work to improve the business climate to solicit investment in developing new urban areas, industrial parks, tourist areas and commercial zones. 

In particular, he stated that the urbanisation of the two suburban districts must meet environmental and ecological criteria.

Hoc Mon and Cu Chi are calling for investment in 55 projects worth a total of VND285 trillion (US$12.46 billion) in infrastructure, industry, high-tech agriculture, trade-service, education-culture-sport and transport. 

As reported, Cu Chi has been urged by the city's People’s Council to develop a plan to become a city, under the jurisdiction of HCM City.

Cu Chi, which borders Hoc Mon District and the provinces of Binh Duong, Tay Ninh, Long An aims to become a logistics hub connecting key industrial zones. 

Some investors had already shown interest in developing five-star nursing home facilities that offer high-end medical and health care services in Cu Chi. 

According to Nguyen Van Nen, Secretary of the HCMC Party Committee, Cu Chi must speed up major projects like the Tay Bac (northwest) urban area and the Saigon Zoo and Botanical Garden.

HCMC authorities also announced a plan to speed up the urbanisation of Cu Chi, Hoc Mon, Binh Chanh, Nha Be and Can Gio in order to make them urban districts by 2030. 

By L.B

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