On May 8th, the 2019 Ho Chi Minh City Investment Promotion Conference was held in collaboration with the Ho Chi Minh City Trade and Investment Promotion Center (ITPC) and the Ho Chi Minh City Department of Planning and Investment.
At the conference, the city summarized its economic development in 2018 and called for investment in various sectors in 2019, with the following main points:
According to 2018 data, Ho Chi Minh City’s economy continued its strong growth with a GRDP increase of 8.3%, and the city’s economic size accounted for 24.15% of the total national economy.
In addition, the city attracted over US$7 billion in investment capital, with an average growth rate of 15% per year.
To date, Ho Chi Minh City has 8,112 foreign investment projects with a total registered capital of nearly US$45 billion.
In 2019, the city actively encouraged investors to participate in 227 projects in the fields of infrastructure development, smart cities, and the environment, with a total investment capital requirement of approximately VND 1,382,158 billion, equivalent to USD 62,831 million.
To facilitate investors, the Secretary of the Ho Chi Minh City Party Committee, Mr. Nguyen Thien Nhan, stated that in 2019, the city would focus on resolving difficulties for slow-progressing projects, accelerating the equitization process of state-owned enterprises, aiming to build Ho Chi Minh City into a smart city and form a creative urban center in the East.
In addition, the city’s logistics development project for the period 2025-2030 is also being urgently constructed.
Regarding infrastructure to attract investment, the city… Ho Chi Minh City is implementing a project to build a financial center, while also planning a new 300-hectare industrial park to support high-tech industries.
In addition, the city aims to complete the Ben Thanh – Suoi Tien Metro line by 2020 and completely resolve the flooding issue.
Overall, in 2019 specifically and in the coming years in general, Ho Chi Minh City will continue to implement infrastructure development projects, address existing problems, and promote investment attraction in sectors that benefit the city’s sustainable and comprehensive development.