Chủ đề: Ho Chi Minh City

The Ben Thanh - Tan Kien metro line (No. 3A) has become one of eight in Ho Chi Minh City approved by the Prime Minister, to create a mass public transport network in Vietnam’s largest urban area. The 20-km line has total investment of nearly VND68 trillion ($2.9 billion) and will use Japanese loans and technology.

With more than 10 million people, Ho Chi Minh City contributes 22 per cent of GDP and about 27 per cent of national budget revenue. It targets the digital economy contributing 25 per cent of its gross regional domestic product (GRDP) by 2025 and 40 per cent by 2030.

According to Mr. Vo Van Hoan, Deputy Chairman of the Ho Chi Minh City People’s Committee, the city’s investment promotion activities in the time to come will focus on preparing an ecosystem to welcome a wave of “green” FDI. It will implement three breakthrough programs, in management innovation, infrastructure development, and human resource development.

Total State budget revenue in Ho Chi Minh City in the first quarter of 2022 reached more than VND121 trillion ($5.3 billion), up 9.4 per cent year-on-year, of which revenue related to real estate and crude oil contributed significantly. State budget expenditure totaled more than VND9.3 trillion ($406.7 million), down 33.8 per cent.

Although many real estate projects in Ho Chi Minh City are stagnant due to legal issues or the impact of Covid-19, selling prices continue to head upwards. Over the past year, apartment prices have increased 27 per cent and land prices 42 per cent, or three times higher than in neighboring provinces.

The Vietnam Maritime Corporation (VIMC) and the Mediterranean Shipping Company (MSC) are accelerating research and development into an international super-container trans-shipment port in Can Gio district, Ho Chi Minh City, worth more than $870 million. This superport will sit on 570 ha, have a main wharf stretching 6.8 km, be capable of berthing ships of 250,000 DWT, and have a capacity of handling 15 million TEUs.

To achieve the goal of the digital economy accounting for 15 per cent of its gross regional domestic product (GRDP) in 2022, 25 per cent in 2025, and 40 per cent in 2030, the Ho Chi Minh City Institute for Development Studies (HIDS) has proposed developing Ho Chi Minh City into a fintech hub in the region, testing policies on digital transformation, and completing the DXCenter digital transformation support center.

At the “Consulting investors on solutions to implement the socio-economic development orientation of Ho Chi Minh City to 2030” conference organized by the Ho Chi Minh City People’s Committee, investors said they expect the city to have open, transparent, and convenient policies, civilized working conditions, and a modern living space.

The Ministry of Industry and Trade has requested that the Ho Chi Minh City People’s Committee fully consult with relevant ministries and agencies as well as business associations before officially applying fee collections, to ensure accordance with international commitments. The city expects to pull in about VND3 trillion ($130 million) a year from fees for accessing infrastructure at seaports.

According to the development plan for technology innovation centers in Ho Chi Minh City in the 2021-2025 period, industrial production enterprises will be supported in technology transfer and innovation, in which special priority will be given to supporting technology transfer from abroad. The city has set a target of forming at least two technology innovation centers by 2025.

Vietnam will not see strong financial liberalization before 2030. This is a problem in need of resolution if Ho Chi Minh City is to become an international financial center, as planned. The city also needs to improve its competitiveness. According to an evaluation, its competitiveness remains at the average level, equal to regional cities such as Manila and Jakarta.

Ho Chi Minh City leaders have sent an urgent petition proposing the Prime Minister give approval for the city to develop and issue a land price adjustment coefficient in accordance with the actual situation in the city, which will then be submitted to the Ho Chi Minh City People’s Council for approval.

With the establishment of a 300-ha industrial park to support high-tech application, Ho Chi Minh City will form enterprises to design, manufacture, and collaborate to provide products with high-tech applications for supporting industries.

Budget collections in Hanoi and Ho Chi Minh City stood at nearly VND266 trillion ($11.7 billion) and over VND381 trillion ($16.8 billion) during 2021, exceeding estimates by more than VND30 trillion ($1.32 billion) and nearly VND17 trillion ($748.5 million), respectively. In order to fulfill State budget and financial tasks this year, the two cities will continue promoting the reform of administrative procedures, improving the business environment, and creating favorable conditions for the stable development of businesses.

Joining Da Nang city and Kien Giang, Khanh Hoa, Quang Nam, and Quang Ninh provinces, Ho Chi Minh City and Binh Dinh province will welcome international tourists in the second phase of Vietnam’s reopening plan. The third phase, from the second quarter of 2022, will see a full reopening to international visitors.

The potential of Tan Son Nhat International Airport and surrounding areas in Ho Chi Minh City are yet to be fully exploited. Analysts believe it is necessary to include the airport’s urban area in the adjusted general planning for the city to 2040 and vision to 2060.

Ho Chi Minh City aims to increase its total housing floor space by at least 50 million sq m in the 2021-2025 period, with the area per capita to be at least 23.5 sq m by 2025. It needs nearly VND567 trillion ($24.5 billion) in investment and 974 ha of land to achieve the targets.

Links between Ho Chi Minh City and Mekong Delta provinces are very important for mutual development. Provinces in the Delta consider the city an important “gateway” for exporting goods to the world.

Four “golden” land lots in the residential area of the Thu Thiem new urban area in Ho Chi Minh City were put up for auction on December 10, with a total area of more than 30,000 sq m and a total starting price of nearly VND5.3 trillion ($23 million).

Ho Chi Minh City will review and approve a list of projects this month that need land to be recovered or change the land use purpose in 21 districts and Thu Duc City, including more than 900 ha of land for rice. Households and individuals in nine districts will be able to change the land use purpose to residential and commercial land.