HCMC – Global tech giants Intel and Samsung might reinstate their multi-billion-dollar projects in HCMC, Dan Tri news website reported, quoting the leader of the city government.
Speaking at a meeting on August 27 of the steering committee for the implementation of the National Assembly’s Resolution 98 on special policies and mechanisms for the city, Phan Van Mai, chairman of the HCMC People’s Committee, said, “There have emerged signs that Intel and Samsung might bring back their investments totaling US$2 billion to US$3 billion.“
In the past, Intel left HCMC for Poland with a US$4 billion investment project, he said . “They want to come back, but we must leverage Resolution 98 to attract this strategic investor.”
He said the city was grappling with challenges in attracting strategic investors when implementing special mechanisms and policies. The city looks to resolve the bottlenecks in the third quarter of this year to bring major investors to the Can Gio International Transshipment Port project and the Saigon Hi-Tech Park where the Intel Products Vietnam (IPV) facility, Intel’s single largest assembly and test plant within Intel Assembly and Test (ATM) network, is currently located.
Resolution 98 is not a magic wand to solve all the issues the city is facing, he noted. “We should be realistic given our capacity and time constraints. Many external issues remain unresolved.”
Nguyen Van Nen, secretary of the HCMC Party Committee, said that the city still has many unmet expectations in implementing Resolution 98. However, the resolution has cleared the way for solving issues to prepare for the medium- and long-term stages of development.
“We cannot expect a resolution that has been implemented for just over a year to improve everything immediately. If that were the case, the city would have already seen significant improvements since many resolutions have been issued. Special resolutions also need time. The city is large, the workload is immense, and we face many challenges. It is not easy to achieve results in a short period,” he remarked.
