Ho Chi Minh City requires investment of 251.5 billion USD for 2021-2030 period

ABO/NDO- The country’s southern biggest economic hub will require a total investment of 6.4 quadrillion VND (251.54 billion USD) for the 2021-2030 period, according to a draft report on the planning of Ho Chi Minh City.

Of the sum, 2.23 quadrillion VND is needed for the 2021-2025 period and the remainder for the 2026-2030 period, as shared at a conference appraising the city’s master plan in Hanoi on June 12.

Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai speaks at the meeting. (Photo: laodong.vn).

Ho Chi Minh City will prioritise capital sourced from the state budget to projects with sluggish progress and a focus on attracting strategic investors, as well as those with high-tech and modern administration, in an effort to maximise resources from the private sector and boost the public-private partnership.

Chairman of the municipal People’s Committee Phan Van Mai said the draft report identifies orientations for green economy, innovative urban area, smart infrastructure, civilised society, and sustainable environment.

Notably, the southern metropolis is expected to become an attractive and sustainable global city, and an economic, financial, and service centre of Asia by 2050, wherebyresidents will enjoy high living standards.

Under the document, a range of solutions are put forth to spur growth in the 2021-2030 period with a vision towards 2050, such as reforming institutions and growth models in parallel with economic restructuring and the promotion ofmarine economy, urban economy, and green economy.

(Source: NDO)