(VEN) – Ho Chi Minh City has become the country’s leading province in terms of FDI attraction. However, Ho Chi Minh City Department of Planning and Investment Deputy Director Nguyen Hoang Minh said that shortcomings in terms of FDI attraction needed to be overcome.
Ho Chi Minh City has become the country's leading province in terms of FDI attraction
Shortcomings
According to Ho Chi Minh City Department of Planning and Investment’s data, as of July 2013, the city attracted 4,696 FDI projects with total registered capital of US$32.32 billion. Singapore was the leading country investing in Ho Chi Minh City with a total capital of US$5.93 billion, surpassing Malaysia, the British Virgin Islands, the Republic of Korea (RoK) and Japan.
| As of July 2013, Ho Chi Minh City attracted 4,696 FDI projects with total registered capital of US$32.32 billion. Real estate trading remained the most attractive sector in terms of FDI attraction with a capital of US$12.03 billion, accounting for 37.22 percent of total registered capital investing in Ho Chi Minh City. The manufacturing and processing industries; and the education and training sector with total capital of US$9.77 billion and US$3.7 billion respectively ranked second and third in terms of FDI attraction. |
However, Ho Chi Minh City Department of Planning and Investment Deputy Director Nguyen Hoang Minh said that shortcomings in terms of FDI attraction needed to be overcome. Granting licenses to FDI projects, especially to complex projects remained slow, and human resources in important projects were below standard in terms of both quantity and quality. In addition, the city’s infrastructure remained chaotic and environmental issues in FDI projects had not yet been resolved.
Solutions
To overcome shortcomings in terms of FDI attraction, Ho Chi Minh City agreed five groups of solutions, including implementing investment promotion activities, granting licenses to important FDI projects, improving infrastructure, training human resources and planning land for the future.
In terms of investment promotion activities, Ho Chi Minh City will continue to research and supplement incentive policies in order to strengthen FDI attraction; and adopt new investment promotion programs. Granting licenses to important FDI projects will specify the responsibility of agencies in order to ensure that licensed projects will be completed on schedule.
In terms of land planning, Ho Chi Minh City will soon complete city development planning and adopt incentive mechanisms and policies, contributing to creating favorable conditions for investors in accelerating the process of space clearance. In addition, strengthening the management of investment licenses and understanding the situation of the implementation of the projects will be implemented.
Improving infrastructure is also one of solutions to overcome shortcomings in terms of FDI attraction. Ho Chi Minh City will continue to develop the composition of technical infrastructure in order to support the deployment of FDI attraction activities; and take full advantage of resources to invest in the development of infrastructure.
To overcome shortcomings in terms of labor shortages, Ho Chi Minh City will strengthen the training of human resources, improve vocational skill for skilled laborers and resolve problems in terms of labor disputes. Focusing on investing in vocational training schools and developing more training courses for local workers are also underlined in order to provide abundant labor resources to the market./.
By Nguyen Hoa
Đăng ký: VietNam News
