More than 100 leading experts, businesses and officials from various ministries attend a conference on economic recovery on March 22 in HCM City. (Photo courtesy of HCMC Press Centre) Speaking at a conference on March 22, Johnathan Hanh Nguyen, chairman of ImexPan Pacific Co. Ltd., said: “To attract strategic investors, the cityneeds to have breakthrough incentives and internationally competitivepolicies.”
Johnathan Hanh Nguyen, an overseas Vietnamese businessman, said the cityneeded to improve its competitiveness to ensure a favourable businessenvironment for enterprises, encouraging start-ups and innovation.
It needs to invest in significant projects such as building an internationalfinancial centre, high-end duty-free shops and shopping malls in the citycentre.
He recommended the city develop AI education programmes and build a logisticswarehouse in Thu Duc city.
Experts said a global financial centre would help the city increase its budgetrevenue by 8-10 percent.
Nguyen Thi Phuong Thao, CEO of Vietjet Air and general director of SovicoHoldings, said the city should become an international tourist destination toreceive 15 million visitors this year, including 3.5-4 million internationaltourists.
In addition, it should develop the stock market to compete with majormarkets globally, she added.
“It also needs to accelerate digital transformation to build a digitaleconomy,” she said.
Nguyen Thanh Binh, general director of Gemadept Group, said it was paramountfor the city to invest in infrastructure, especially at seaports. It shouldalso develop a distribution centre of high-quality consumer goods worldwidebased on a modern retail system.
Park Hyun Bae, general director of KCTC Vietnam, recommended the city expandcargo ports, including Cat Lai port (in Thu Duc) and Hiep Phuoc port in Nha Bedistrict, and improve warehouse, port and logistics services.
“The volume of goods cleared through Cat Lai port increases by 30 percent everyyear, but the port, which was built in 2007, fails to meet the capacity,” hesaid.
Boris Cohen, general director of MSC, a globalcontainer shipping company, said it was vital to improve the seaportinfrastructure to develop an international cargo service hub in Vietnam.
“The city should plan to build a new transhipment port in Can Gio district by2030,” he said.
Other conference participants said the city was lagging behind other majorcities in the region regarding living quality, competitiveness and urbanplanning.
Its infrastructure is ageing while its human resources have failed to meetdevelopment needs, and many of its major infrastructure works are progressingtoo slowly.
Other city issues include traffic congestion, air pollution, flooding androbberies and burglaries.
Nguyen Van Nen, Secretary of the city's Party Committee, said businesses playeda significant role in the city’s socio-economic development, pledging the citywould continue to create the most favourable conditions.
Phan Van Mai, Chairman of the municipal People’s Committee, saidthe city would consider all expert opinions.
“The city will set up a working group working directly with the investors andbusinesses,” he said.
The city has set an economic growth target of 6 to 6.5 percent for this year.
It will speed up digital transformation and adoption of information technologyat all levels of Government, improve the investment climate andenforce pandemic control measures as part of its economic recovery plan.
The city has unveiled a socio-economic programme that envisages achievingrecovery by 2025 and development three years later.
The city contributes more than 368 trillion VND to the Government’s coffers, or25-27 percent of the total, according to Mai.
Last year, despite the impact caused by the largest pandemic outbreak, thecity’s revenues marginally exceeded the year’s target to reach 381.53 trillion VND(16.81 billion USD).
It attracted FDI worth more than 7.23 billion USD last year, up 38.48percent year-on-year.
In the first two months of this year, its tax revenues were worth 89 trillionVND, or 23 percent of the year’s target. The 2.2 trillion VND it collects in aday equals the amount some provinces receive in a year.
Exports were worth 9 billion USD in the first two months, up 12.5 percentyear-on-year./.
VNA
