VietNamNet Bridge - EPS Group from the United Arab Emirates (UAE) proposed to build an intelligent parking lot in HCM City in the form of BOT (build - operate - transfer), at a cost of $500 million, at a recent meeting with HCM City’s Chairman Le Hoang Quan.

The UAE business delegation.

Rustam Ibragimov, representative of EPS Group, said the group has invested in parking lot projects in 19 countries. In HCM City, if its project has been approved, EPS will develop a system of parking areas, traffic monitoring, traffic control center and vehicle warranty, among others.

At the meeting, Chairman Le Hoang Quan said the city is calling for investment in projects such as tramway, tourism real estate, underground parking lots, high-rise parking lots and some metro routes.

The city’s public transport system can meet only 15% of travel needs and local authorities want to raise the rate to 25-30% in the future by calling for investment in infrastructure projects, including tramway and metros.

Quan said to date the city has attracted 5,800 foreign investment projects from 80 countries and territories with a total investment capital of about US$398 billion. There are also 2,600 offices of foreign companies in the city.

Sultan Ali Rashed Lootah, Director General of Investment Vault Fund, representative of the delegation of UAE investors, said in addition to infrastructure projects, UAE businesses are also interested in a smart city project in HCM City with a total investment of about US$200 million.

Chairman Quan said he would assign relevant departments to work directly with investors to provide them with information. For the smart city project, the city does not have unused land in the downtown area, so the investor may have to find land in the outlying area.

Phong Lan