HCMC – Investors have clinched agreements and memoranda of understanding to pour nearly US$17 billion into HCMC’s outlying districts of Cu Chi and Hoc Mon.
At a conference on investment promotion in the two districts on April 12, the city handed over investment certificates to projects with a total investment of nearly US$500 million, the local media reported.
Many investors said they would get involved in hi-tech agriculture, social housing, solid waste treatment and logistics projects in the two districts this year.
HCMC had earlier called for investment totaling US$12.4 billion in 55 projects in the two districts, mainly in the traffic sector, according to the municipal Investment and Trade Promotion Center.
Of the total investment, US$12.3 billion or nearly 99% would be mobilized for 18 traffic and technical infrastructure projects, including the HCMC-Moc Bai Expressway, Ring Roads Nos. 3 and 4, elevated road No. 5, the third phase of the third metro line linking the Tay Ninh Coach Station and the Tay Bac Cu Chi Urban Area and the expansion of provincial road No. 15.
The remaining investment will be for 12 urban revitalization projects, two trade-service projects, three industrial projects, 16 agriculture projects and four education-culture-sports projects.
Speaking at the conference, State President Nguyen Xuan Phuc said Cu Chi and Hoc Mon are holding great potential for development. The investment in the two districts will help HCMC expand the development space.
However, investment projects must match the approved planning, State President Phuc said, asking HCMC and the two districts to coordinate with the relevant ministries, agencies and localities to remove bottlenecks in traffic.
Moreover, the city must improve the investment environment, encourage innovative startups, develop private enterprises, reduce administrative procedures, develop e-government and train high-skilled laborers.
Secretary of the HCMC Party Committee Nguyen Van Nen said the city was willing to welcome investors to Cu Chi and Hoc Mon and would create the most favorable conditions for them.
Director of the HCMC Department of Planning and Architecture Nguyen Thanh Nha said the city had yet to fully exploit the potential of the Tay Bac Urban Area in Cu Chi and Hoc Mon. As there is available land for urban areas in these districts, they can develop facilities for urban areas.
The two districts have advantages in terrain, a diversified natural ecosystem and landscapes and are near the Moc Bai International Border Gate, the Dau Tieng Lake and urban areas in Tan An, Thu Dau Mot and Lai Thieu in Binh Duong Province. They can be connected with HCMC’s downtown area within 30-35 minutes by waterways.
Hoc Mon and Cu Chi account for over a quarter of the area of HCMC and connect with Long An Province’s Duc Hoa City, Tay Ninh Province’s Trang Bang District and Binh Duong’s Thu Dau Mot City.
Under the HCMC general planning until 2040 with a vision to 2060, the Tay Bac Urban Area has been oriented to develop into a smart eco-urban area.