Cu Chi and Hoc Mon districts mobilise $9.4 billion

State President Nguyen Xuan Phuc and Phan Van Mai, Chairman of Ho Chi Minh City People's Committee, chaired an investment promotion conference in Hoc Mon and Cu Chi districts on April 12.

The discussions on April 12

This is the first time that the two northwestern districts of Ho Chi Minh City have jointly held an investment promotion conference.

Among the projects are 12 related to transport and infrastructure, amounting to more than $9 billion. Opportunities in waterways, waste treatment, urban landscape improvement, culture, sport, education, trade, and services were also presented.

Some outstanding projects are the elevated railway linking Thu Duc city, Hoc Mon, and Cu Chi districts, the expressway linking Ho Chi Minh City and Moc Bai Gateway, and the No.2 railway route from the southern province of Tay Ninh to Cu Chi.

Also at the conference, 10 investment registration certificates were handed over with the total investment capital of almost $370 million. In addition, 39 MoUs with the total investment capital of $16.5 billion were signed between the local authorities and foreign and domestic investors. Partners include Sovico Group, AEON Mall, Van Phu Invest, Hyundai E&C, and CMIA Capital Partners.

Hoc Mon and Cu Chi are relatively new destinations for both foreign and domestic investors. According to Furusawa Yasuyuki, general director for AEON Vietnam, it plans to develop retail services that are suitable for local living standards. AEON Mall plans to set up the AEON Mall Hoc Mon with an investment capital sum of $250 million.

CMIA Capital Partners and Surbana Jurong plan to set up a high-tech agricultural park on more than 1,000 hectares in the Cu Chi district. Ken Chan, a representative of the investors, said that this project would shape an eco-urban area with functional locations for food processing and logistics, expecting to bring about a turnover of $2 billion annually and more than 50,000 jobs.

“With our capacity and experience, we believe that this project will bring about a new motivation for developing Cu Chi and Hoc Mon districts as the first high-tech agriculture and eco-urban area in Vietnam,” said Chan.

At the conference, State President Phuc said that Hoc Mon and Cu Chi have the potential for comprehensive socioeconomic development, especially in industries, logistics, agriculture, tourism, health, and education.

The president added, “The conference on investment promotion is important for attracting investment, especially as the domestic economy and Ho Chi Minh City have been seriously affected by the pandemic. They need resources and the dedication of entrepreneurs in the community.”

“The events of the last two years also provide an opportunity to change the mindset and make us more innovative in attracting investment. We must prepare the infrastructure of industrial parks, economic zones, transport systems, and human resources to seize those opportunities and prepare the best conditions to welcome investors,” concluded State President Phuc.

Hoc Mon and Cu Chi districts are two suburban districts of more than 544ha, occupying almost the entire territory of the north and northwest of Ho Chi Minh City. They are the gateway connecting the city with the other urban areas of Duc Hoa, Trang Bang, and Thu Dau Mot in the western and southeastern provinces.

Investment certificates handed over

Some outstanding MoUs that were signed at the conference