The Ho Chi Minh City Planning and Investment Department reported the city’s nine-month FDI disbursement hit 900 million USD, almost matching the amount for the whole of 2009, but still only a small amount compared with total FDI flow.
The yearly target of 1.43 billion USD is clearly within reach, however total FDI disbursed is only 11.9 billion USD out of the total registered FDI of 28.4 billion USD.
Projects operating in the HCMC City Export Processing and Industrial Zone Authority (HEPZA) recorded the highest FDI disbursement speed. HEPZA’s 479 valid projects have disbursed 82 percent of the total 2.8 billion USD registered, according to Nguyen Tan Phuoc, Vice Head of the HEPZA authority.
In the new Thu Thiem Urban Zone, three out of four licensed projects have been kick-started, including a 120 million USD project to build 2,220 apartments in Binh Khanh ward, District 2.
The Planning and Investment Department’s Deputy Director Lu Thanh Phong said that slow disbursement is usually seen in large-scale real estate projects that face obstacles in ground clearance and administrative procedures.
The department and relevant authorities have been adjusting and removing unnecessary procedures in order to facilitate investment projects.
The city has also been assessing large-scale real estate projects to find out reasons for delay and is determined to withdraw licences from projects that cannot provide sound reasons for long delays.
Recently, the Ministry of Planning and Investment decided to stop 34 projects in HCMC due to their slow progress./.
The yearly target of 1.43 billion USD is clearly within reach, however total FDI disbursed is only 11.9 billion USD out of the total registered FDI of 28.4 billion USD.
Projects operating in the HCMC City Export Processing and Industrial Zone Authority (HEPZA) recorded the highest FDI disbursement speed. HEPZA’s 479 valid projects have disbursed 82 percent of the total 2.8 billion USD registered, according to Nguyen Tan Phuoc, Vice Head of the HEPZA authority.
In the new Thu Thiem Urban Zone, three out of four licensed projects have been kick-started, including a 120 million USD project to build 2,220 apartments in Binh Khanh ward, District 2.
The Planning and Investment Department’s Deputy Director Lu Thanh Phong said that slow disbursement is usually seen in large-scale real estate projects that face obstacles in ground clearance and administrative procedures.
The department and relevant authorities have been adjusting and removing unnecessary procedures in order to facilitate investment projects.
The city has also been assessing large-scale real estate projects to find out reasons for delay and is determined to withdraw licences from projects that cannot provide sound reasons for long delays.
Recently, the Ministry of Planning and Investment decided to stop 34 projects in HCMC due to their slow progress./.
