A view of Ho Chi Minh City (Source: VNA)

HCM City (VNA) – Ho Chi Minh City has numerous projects open for foreign investment, Secretary of the municipal Party Committee Nguyen Thien Nhan said at a reception for investors from Singapore and Australia who came to explore investment opportunities in the city on March 6.

They include six resettlement projects, upgrades to 50 old apartment buildings and construction in Thu Thiem urban area.

The city plans to build an innovative urban area covering Districts 2, 9 and Thu Duc, including Thu Thiem urban area.

Nhan urged sectors and localities to continue creating favourable condition for investors to explore cooperation.

On behalf of the delegation, Neil Wilson, Chairman of the Australian Sakkara Group, said they have invested in numerous projects in the city.

They are interested in the city’s infrastructure projects, such as upgrades to canals, old buildings, Thu Thiem urban area and the equitisation of State-owed enterprises, with a total investment likely to reach 1.5 billion USD.

The southern economic hub witnessed significant socio-economic-cultural accomplishments in 2017. The city recorded an 8.25 percent increase in gross regional domestic product, higher than the 8.05 percent growth the previous year.

Domestic investment exceeded 899 trillion VND (39.5 billion USD), three fold higher than 2017, while foreign investment hit 6.38 billion USD, double the figure of the previous year.

The city provide more than 347.9 trillion VND (15.3 billion USD) for the State budget, representing a year-on-year rise of 12.94 percent.-VNA