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HCM City plans VND47.5bil for investment promotion

VietNamNet Bridge – HCMC authorities have approved a program for investment, trade, and tourism promotion worth some VND47.5bil, according to the city's website.
The HCMC Investment and Trade Promotion Center wins the bulk of the big sum, likely receiving some VND30.5bil to implement programs to support economic restructuring, the service sector and international integration, and help associations to step up business in major markets among others.
The HCMC Tourism Department will earn VND7bil for developing the human resource, creating new tourism products, and advertisement while the HCMC Department of Trade is allocated some VND6bil for activities like fairs, training, and seminars.
The HCMC Planning and Investment Department receives VND4bil for tasks such as organizing promoting trips abroad and providing information to potential investors.
The Department of Planning and Investment will also make a list of projects calling for investment and coordinate with relevant agencies to achieve the best results for investment promotion.
At a recent meeting, the HCMC government requested relevant agencies to take steps to boost foreign investment attraction by 8-10% in the second half of this year over the same period of 2006.
The Department of Zoning and Architecture will submit to the city government a zoning plan for all industrial parks as soon as possible. The Department of Natural Resources and Environment will announce the plan of land use to make it convenient for investors.
As of July 15, HCMC had licensed 212 foreign direct investment projects with total capital of US$657.9mil, down by US$122.3mil year-on-year.
The investors came from 29 countries and territories, with South Korea leading the investor list with 72 projects worth US$311mil.
During the period, 91 operating projects increased their investment capital by US$126.2mil, raising the city's total pledged foreign capital to US$784.1mil. Meanwhile, fifteen projects worth US$43.5mil were terminated.
Up to date, the city has 2,370 foreign operational projects worth US$15.298bil.
(Source: SGT

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