HCM City wants investment in transport infrastructure,hi-tech industry
HCM City wants investment in transport infrastructure, hi-tech industry
Ho Chi Minh City prioritises investment in green hi-tech industries, urban development and transport infrastructure, said Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen.
Metro line 1 Ben Thanh-Suoi Tien is one of the city's strategic projects. (Photo: tuoitre.vn)
HCM City (VNA) – Ho Chi Minh City prioritises investment in greenhi-tech industries, urban development and transport infrastructure, said ViceChairman of the municipal People’s Committee Tran Vinh Tuyen at an investmentpromotion conference held in the city on October 11.
At the event, the city called for investment in 133 projects, including 73 intransport, 21 in urban improvement and resettlement housing construction, 11 ineducation and seven in flood reduction.
Of those, the metro line 1 Ben Thanh-Suoi Tien, metro line 2 Ben Thanh-ThamLuong, a science and technology park in District 9, and the Thu Thiem 2 urbanarea are billed as strategic projects.
In addition, export processing zones and industrial parks in the city areinviting investment in electronics, information technology, mechanical engineering,medical equipment, pharmaceutical chemistry and food.
Ho Chi Minh City is targeting an average GDP growth of 8.5 percent per yearduring 2016-2020. By 2020, the service sector will account for 56-58 percent ofthe gross regional domestic product (GRDP) and total social investment will makeup 30 percent of the GRDP. The city also aims to raise income per capita to 9,800USD in the next three years.
According to Pham Thiet Hoa, director of the city’s Investment and TradePromotion Centre (ITPC), the city is currently contributing 21 percent to thenational GDP, one third of the national budget, one fifth of the export revenueand 30 percent of FDI projects in Vietnam.
In the coming time, the city will continue to improve business climate, streamlineadministrative procedures as well as ensure sufficient human and land resourcesto meet demands of foreign investors.
Tina Phan, Director for for Indochina at the Hong Kong Trade DevelopmentCouncil, said that the Vietnamese southern economic hub is a dynamic city andan attractive destination for foreign firms. Hong Kong investors areparticularly interested in transport infrastructure and sewage treatmentprojects in the city, she highlighted.
Simplifying administrative procedures, supporting land clearance and sharinginformation with the investors will help the city attract more investments, shesaid.-VNA
Industrial and processing parks in Ho Chi Minh City have not developed to their potential due to poor infrastructure and a lack of connection among the parks, delegates said at a weekend seminar.
Ho Chi Minh City needs to continue mobilising all resources to achieve sustainable growth in productivity, quality, efficiency and competitiveness for the rest of the year, a city official said.
Ho Chi Minh City has asked the FEC to help the city connect with Japanese investors with experience in the environment industry to address local pressing issues.
Upgrading old buildings and relocating households living near canals are among the major projects that HCM City aims to carry out now and in the near future, according to city authorities.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Metro line 1 Ben Thanh-Suoi Tien is one of the city's strategic projects. (Photo: tuoitre.vn) 
