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Vietnam: Ho Chi Minh City metropolitan area to become Southeast Asia’s leading multi-function hub
The Hanoitimes – The metropolitan area including core Ho Chi Minh City and surrounding provinces will grow into a huge urban zone, playing a key role in Southeast Asia.
This is one of the core targets listed out during a recent Planning Adjustment Conference by the municipal authority.
In particular, under the new planning scheme, Ho Chi Minh City metropolitan area would cover the administrative borders of Ho Chi Minh City and the seven nearby provinces of Long An, Dong Nai, Tay Ninh, Tien Giang, Binh Duong, Binh Phuoc, and Ba Ria-Vung Tau.
The adjusted planning scheme would form a new urban area of 30,404sq.km, according to the master planning to 2030, with vision to 2050.
In particular, under the new planning scheme, Ho Chi Minh City metropolitan area would cover the administrative borders of Ho Chi Minh City and the seven nearby provinces of Long An, Dong Nai, Tay Ninh, Tien Giang, Binh Duong, Binh Phuoc, and Ba Ria-Vung Tau.
The adjusted planning scheme would form a new urban area of 30,404sq.km, according to the master planning to 2030, with vision to 2050.
Along with changes in the borders, Ho Chi Minh City economic zone has three targets to fulfill in the upcoming time. First, it will grow into a big, dynamic, and sustainable urban area playing a key role in Southeast Asia and the world. Second, in the long term, the zone would turn into a domestic and regional economic, industrial, and research hub. And finally, the city will pay attention to maintain sustainable and balanced development and enhance its capacity to adapt to climate change, while preparing to connect new, modern infrastructure.
Specifically, Ho Chi Minh City will become Southeast Asia’s number one economic, intellectual, and trade centre, leaving regional rivals behind.
In a related move, the Board of Regional Development was established by the government to consult and support the authorities in monitoring and developing Ho Chi Minh’s urban zone and collaborate with related regional units to implement the new planning scheme.
With more than 8.4 million residents, Ho Chi Minh City’s currently the largest city in Vietnam by population. In 2017, Ho Chi Minh City recorded an 8.25% increase in GDP, higher than the 8.05% in the previous year. The economic structure shifted towards a higher proportion of high-quality, high added value, and highly competitive services.
The city contributed over VND347.9 trillion (US$15.3 billion) to the State budget, representing a year-on-year rise of 12.94%.
According to the HCMC Statistics Office, the city attracted US$5.81 billion in foreign direct investment (FDI), up 68% against last year. There were 800 newly-licensed projects in the city, with nearly $2.01 billion in investment, while 220 projects added capital and bought shares in the city’s enterprises, with capital totaling $1.05 billion.
For key industries that the city determined to attract FDI in includes: mechanical manufacturing, electronics, chemicals – rubber – plastics, and food processing.
Specifically, Ho Chi Minh City will become Southeast Asia’s number one economic, intellectual, and trade centre, leaving regional rivals behind.
In a related move, the Board of Regional Development was established by the government to consult and support the authorities in monitoring and developing Ho Chi Minh’s urban zone and collaborate with related regional units to implement the new planning scheme.
With more than 8.4 million residents, Ho Chi Minh City’s currently the largest city in Vietnam by population. In 2017, Ho Chi Minh City recorded an 8.25% increase in GDP, higher than the 8.05% in the previous year. The economic structure shifted towards a higher proportion of high-quality, high added value, and highly competitive services.
The city contributed over VND347.9 trillion (US$15.3 billion) to the State budget, representing a year-on-year rise of 12.94%.
According to the HCMC Statistics Office, the city attracted US$5.81 billion in foreign direct investment (FDI), up 68% against last year. There were 800 newly-licensed projects in the city, with nearly $2.01 billion in investment, while 220 projects added capital and bought shares in the city’s enterprises, with capital totaling $1.05 billion.
For key industries that the city determined to attract FDI in includes: mechanical manufacturing, electronics, chemicals – rubber – plastics, and food processing.
Source: http://www.hanoitimes.vn/investment/news/2018/01/81E0C0E5/ho-chi-minh-city-metropolitan-area-to-become-southeast-asia-s-leading-multi-func/