City strives to lure more investment
City strives to lure more investment
This southern city aims to continue speeding up administrative reforms, perfect key infrastructure facilities such as airports and seaports and ensure adequate funds for land purchase to attract more investments.
Top priority will be given to improving personnel resources especially in high-technology industries, speeding up investment promotion and solving difficulties in a timely manner for investors, said Lam Nguyen Khoi, deputy director of the municipal planning and investment department.
The city will also take bold measures to speed up slow-moving projects, especially those worth more than US$500 million, to prevent any negative influence on its investment climate, Khoi added.
Concerned departments and sectors will provide investors with the best support possible to ensure the implementation of their projects as scheduled.
But if investors lack sufficient finances and delay projects on purpose, bold measures become inevitable, warned the deputy director.
Khoi specified for priority investment several sectors and industries: banking and finance, trade and tourism, information and communications technology and real estate trading, as well as machinery and engineering, automotive, support and food processing.
In the past 10 months, HCM City topped the list of cities and provinces nationwide that have successfully attracted foreign direct investment with $2.97 billion, a 97.6-per cent year-on-year increase, according to a planning and investment department report.
From January to October 2014, city authorities granted licenses to 332 new foreign-invested projects worth $2.7 billion. In October alone, they granted a license to the $1.4-billion Samsung CE Complex project of Samsung Electronics.
The project, which aims to conduct research on, develop, and manufacture high-technology consumer electronics products, was the second $1-billion project at the Sai Gon Hi-Tech Park after the Intel chip factory project which was approved in 2006.
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