HCM City calls for investments in 210 projects

The authorities in HCM City have called for investments into 210 projects during 2019 HCM City Investment Promotion Conference.

The authorities in HCM City have called for investments into 210 projects during 2019 HCM City Investment Promotion Conference.

 

HCM City Chairman Nguyen Thanh Phong speaks at a conference on May 8

Speaking at the conference held on May 8, HCM City Chairman Nguyen Thanh Phong said the city would need a total USD78bn for development but the city budget can only afford 20% of the investments. Phong said they would provide favourable conditions for investors in HCM City.

At the conference, 210 projects were introduced which need over USD53.8bn in investment. There are 85 transport infrastructure projects including 55 bridge and road projects, seven waterway projects, eight urban railway projects and 15 urban roads that need nearly USD42bn. 36 infrastructure projects such as parking lot and anti-flooding projects that need USD4.9bn.

There are 15 cultural and sports projects that need USD3.1bn, nine trade and commercial projects that need USD745m and six healthcare projects that need USD598m. A total USD138m was called for 14 educational projects, USD123m for tourism and entertainment projects and USD73m for two agricultural projects.

Le Thi Huynh Mai, director of the Department of Planning and Investment, said they had several methods to select investors for projects with land use such as employing a public-private-partnership method, leasing out the land or holding a bidding process for construction.