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VietNamNews

City suburb seeks investment

Update: June, 02/2014 - 08:23

HCM CITY (VNS) — The Investment and Trade Promotion Centre of HCM City in collaboration with the city's Northwest Metropolitan Area Authority on Saturday organised a conference to call for investment in the city's Northwest Metropolitan Area.

Located in Hoc Mon and Cu Chi districts 30km away from the city's centre, the NWMA connects directly with many strategic transportation roads that link the city with Long An and Tay Ninh provinces as well as an international seaport and airport.

It is also a gateway to the Trans-Asia Road, an integrated freight railway network across Europe and Asia.

The 9,000ha area is planned to become an ecological and modern urban area of the city, increasing development of the city's northwestern region as well as the adjoining provinces of Long An and Tay Ninh, according to Nguyen Van Thanh, chairman of the Northwest Metropolitan Area Authority.

It will contribute to the shift from an agricultural-based to services-based economy, creating more jobs and reducing traffic overload as well as population in the inner city.

As planned, the area is home to commercial and business services centres, shopping, hospitals, cultural and educational centres as well as sport and athletic training, entertainment centres, resorts, industrial parks and others.

Some projects under construction in the area included the Kenh Dong water plant, Tan Phu Trung Industrial Zone and Cu Chi Golf Course, said Huynh Minh Cuong, deputy chairman of the Northwest Metropolitan Area Authority.

Cuong said the area wanted to call for investment in building of inner roads, as well as projects to build residential areas, commercial and service centres, schools, universities and hospitals.

Investors will enjoy common incentives offered by the city such as land rental and tax incentives. For large projects, if asked, the area authority will petition the municipal government to offer more incentives.

The area, together with the Phu My Hung Urban Area and Thu Thiem New Urban Area, are the three major urban areas in HCM City. — VNS

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