VietNamNet Bridge - Land plots located in advantageous positions in the central area of HCM City are known as ‘golden land’ because they promise huge profits for investors. In 2007, HCM City authorities released a map of golden land plots, covering an area of 50 hectares, and called on investors to develop large projects there. Land plots located in advantageous positions in the central area of HCM City are known as ‘golden land’ because they promise huge profits for investors. Vo Van Hoan, chief Secretariat of the HCM City People’s Committee, mentioned difficulties the project is facing at the 2018 year-end meetings. RELATED NEWS More ‘golden land plots’ sought by foreign investors Saigon’s "golden land" left undeveloped Kim Chi … [Read more...] about HCM City tries to rescue ‘golden land’ plots as disputes continue
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HCM City apologises to local residents for shortcomings at Thủ Thiêm project
Viet Nam News HCM City — The municipal People’s Committee organised a press conference yesterday morning to take responsibility and apologise to local residents about the situation in the Thủ Thiêm New Urban Area. “The HCM City People’s Committee sincerely apologises to residents, especially households on an area of about 4.3 hectares outside the planning zone in District 2’s Bình An Ward,” said Võ Văn Hoan, head office and spokesman of the city People’s Committee. “The committee is taking responsibility with the Prime Minister and the Government because it did not follow what was approved,” he added. “The city will seriously implement all conclusions of the Government Inspectorate and deal with complaints about Thủ Thiêm New Urban Area in District 2,” he said. “All will be done in accordance with laws, to ensure people’s rights, and maintain the benefits of the … [Read more...] about HCM City apologises to local residents for shortcomings at Thủ Thiêm project
HCM City needs over 4 bln USD for flood prevention, wastewater treatment
A flooded street in Ho Chi Minh City (Source: VNA) HCM City (VNA) – Ho Chi Minh City is calling for investment to 17 flood prevention and wastewater treatment projects, and needs more than 96 trillion VND (4.12 billion USD) for the works from now to 2020. Of the total, the city budget can ensure around 16 trillion VND (687 million USD), and the State budget will allocate 588 billion VND (25.2 million USD), according to a report delivered at a conference calling for investment to the city’s flood prevention and wastewater treatment solutions, which was held by the municipal People’s Committee on August 9. Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, said that there are many causes of flooding in the city. Therefore, it is necessary to find out the root cause so as to have a suitable solution. To create favourable conditions for investors, the city will focus on adjusting water drainage and flood prevention plans, and build a map … [Read more...] about HCM City needs over 4 bln USD for flood prevention, wastewater treatment
HCM City to host Blockchain Festival
The Blockchain Festival will be organised in HCM City on May 24-25 at Gem Center. — Photo courtesy of Blockchain Festival The Blockchain Festival to be organised in HCM City on May 24-25 is expected to open up new opportunities to develop the world’s leading software platform for digital assets and cryptocurrencies in Viet Nam. The festival will offer companies and experts a chance to meet, discuss and share knowledge and insights about the fastest growing markets in the blockchain and crypto landscape. It is organised by Huobi Pro, which is the world’s third largest digital asset exchange and expects to feature about 300 speakers. Co-operation opportunities are also expected to arise. Dr David Nguyen, president of the Vietnam Chamber of Commerce Singapore and chairman of Regulus Investment & Capital Holdings, said: “Viet Nam is becoming more and more important on the global blockchain map. As such, Viet Nam needs more help from global leaders in the … [Read more...] about HCM City to host Blockchain Festival
PM okays proposal of hiring consulting units for HCM City Metro line 5 project
The PM assigned the Minister of Planning and Investment as the Chairman of the State verification council to select the consulting unit, while gathering ideas of other ministries to maximize the effectiveness and economies the hiring. The Metro line 5, spanning from the new Can Giuoc coach station to Sai Gon bridge, has a total length of 26 kilometers. In the first phase, an 8.9km section will be built from Bay Hien crossroad in Tan Binh district to Sai Gon bridge. Ho Chi Minh City metro project map. Source: baoxaydung.com.vn The line has a total investment of 1.562 billion EUR and an implementation time from 2009 to 2027. Under its design, the Metro line 5 will connect with line 2 at Bay Hien crossroad, line 4 at Phu Nhuan crossroad in Phu Nhuan district, Tan Son Nhat airport terminal in Tan Binh district, line 3b at Hang Xanh station in Binh Thanh district and line 1 at Sai Gon brodge station in Binh Thanh district. HCM City’s metro project was the first … [Read more...] about PM okays proposal of hiring consulting units for HCM City Metro line 5 project
HCM City industrial production index drops
Viet Nam News HCM CITY -- The industrial production index of HCM City of the first four months rose merely 6.07 per cent compared with the 7.09 per cent of the same period of 2017, according to figures released at a meeting held yesterday to review the city’s socio-economic development. Speaking at the HCM City People’s Committee meeting, Nguyễn Huỳnh Trang, deputy director of the Department of Industry and Trade, said the figures indicated an “unsustainable and uncompetitive” growth of industrial production. She cited the number of medium- and small-sized enterprises, which account for 99 per cent of the total number of businesses in the city. The contributions of local and foreign-invested enterprises to the country’s economic growth are “unequal”, and the growth of industrial production is mainly based on foreign-direct invested (FDI) enterprises. In the past five years, industrial production of FDI enterprises … [Read more...] about HCM City industrial production index drops
New master plan to transform HCM City Region
An overpass with three branches, which has been partially built, will help ease congestion on streets around Tân Sơn Nhất international airport. Photo courtesy of the city’s Department of Transport Viet Nam News Every year, thousands of people move to HCM City looking for work thus placing a strain on transport, educational and healthcare systems. A new master plan envisions improvements in infrastructure and services in the region that would help relieve overcrowding in the city and provide a higher quality of life to both provincial and city residents by 2030. Bồ Xuân Hiệp reports. HCM CITY — Five years ago, Hoàng Thị Thùy Vân left her hometown in Vĩnh Long Province in the Mekong Delta to move to HCM City to find a job with a decent income. “It’s a nightmare to go to work every morning and come back in the afternoon because of the traffic. But I have to stay here to earn a … [Read more...] about New master plan to transform HCM City Region
HCM City’s industrial production index rises 15.04 pct in January
HCM City’s industrial production index rises 15.04 pct in January (Illustrative image. Source VNA) HCM City (VNA) – Ho Chi Minh City’s industrial production index (IIP) in January 2018 rose 15.04 percent compared to the same period last year. The outcome was attributed to the city’s implementation of policies and programmes to support businesses to invest in the field of industry and supporting industry, according to the municipal People’s Committee. As this year’s traditional Lunar New Year falls in February, enterprises have proactively mapped out plans for goods production and storage since December 2017 to ensure sufficient supply during the holiday. Four key industries, namely mechanical manufacturing, electronics, chemicals-rubber-plastic, and food processing, continued to expand markets and increase investments in new equipment to produce high-quality and competitive products. The move helped the industries to record an annual … [Read more...] about HCM City’s industrial production index rises 15.04 pct in January
HCM City’s Customs hopes to meet target in 2018
Illustrative image (Source: http://customsnews.vn) HCM City (VNA) – The Ho Chi Minh City Customs Department has collected more than 109 trillion VND (4.8 billion USD) in export-import duty revenues in 2017, translating to an increase of 7.75 percent compared to 2016. A report at the meeting held in the city on January 17 to review the department’s performance last year and deploy tasks for this year said the department had retrieved tax debts of 1.115 trillion VND, reaching 118.8 percent of target and up 326 percent over 2016. In the fight against smuggling and trade fraud, the department has dealt with 1,598 violations, an increase of 6.3 percent over the preceding year. This year, the department has been assigned to collect 108 trillion VND for the State budget. The department said it was determined to meet or surpass the target despite the challenge. Nguyen Xuan Binh, head of the department’s Customs Control and Supervision Division, said the target was … [Read more...] about HCM City’s Customs hopes to meet target in 2018
HCM City says will map out tourism strategy soon
The HCMC government will draw up a specific development plan for the tourism sector with a vision to 2030, and this strategy will be made available thanks to a sum of US$2 million sponsored by an enterprise, said HCMC vice chairman Tran Vinh Tuyen. Foreign tourists are seen in downtown HCMCAt a conference on the performance of the city’s tourism sector last year and key missions for this year held on January 11, Tuyen said the US$2-million investment would help the city choose the best consulting firms to develop a feasible tourism development plan. There are four to five consultants keen on the job but the city would choose official consultants after the upcoming Lunar New Year holiday, or Tet.The target to welcome 7.5 million international tourists in 2018 is tough, so are other missions, so the city needs a long-term and effective development strategy, Tuyen said.The HCMC Department of Tourism and a company had earlier worked on a tourism strategy, but failed to draw up the … [Read more...] about HCM City says will map out tourism strategy soon