President Nguyen Xuan Phuc and delegates witness the signing of memoranda of understanding on investing in Cu Chi and Hoc Mon. (Photo: VNA)

It was the largest event of its kind held after the fourth wave of COVID-19 infections hit the city, with committed capital amounting to nearly 17 billion USD, of which nearly 500 million USD received licences during the event.

The conference aimed to call for investment in the two northwestern districts of HCM City, helping to turn them into ecological urban areas with high-technology agriculture.

Projects earmarked for investment were also highlighted, focusing on transport-technical infrastructure, industry, agriculture, trade-services, and education-culture-sport. Of which, transport-technical infrastructure has the highest number of projects.

Addressing the event, President Nguyen Xuan Phuc underlined that Hoc Mon and Cu Chi districts are promising areas for development with abundant advantages, especially those in strategic locations and strong transport connections with other localities through road and waterway systems.

Describing the two localities as “sleeping dragons”, he held that investing in the two districts will help HCM City deal with problems in expanding its development space in a balanced manner, thus attracting more resources for the city’s economic development and easing pressure in infrastructure as well as challenges in housing and employment.

President Nguyen Xuan Phuc and delegates look at the planning maps of Cu Chi and Hoc Mon. (Photo: VNA)

Expressing his delight at investment commitments worth nearly 17 billion USD at the event, he said planning procedures should be followed, and stressed the need for better planning efficiency in Hoc Mon and Cu Chi.

The President underscored that people’s interests must come first during the implementation of the projects, which should target sustainable development.

He directed HCM City and the two districts to coordinate with relevant agencies to resolve transport issues and improve its investment and business environment, while speeding up administrative reforms.

President Phuc reminded investors to strictly implement their commitments and launch their projects as soon as possible.

He asked local authorities of Hoc Mon and Cu Chi to support investors during their operations and help them in vocational training, ensuring harmony between the interests of the State, investors and local residents.

At the event, businesses and investors announced their support for the two districts in building more than 1,000 houses for local people, along with scholarships for students.

Source: VNA