Investments in HCMC soar in 2016-2020
The city government has assigned the Department of Planning and Investment to complete a public investment plan for the 2016-2020 period, with a focus on fueling growth of major industries and executing seven breakthrough programs and key projects.
HCMC will manage to optimize the use of capital mobilized from the private and foreign-invested sectors while making the most of official development assistance (ODA) loans.
Total investments of HCMC in 2011-2015 stood at VND1,180 trillion, or 31.7% of the city’s gross regional domestic product (GRDP).
Investments steadily rose in the period, with nearly VND203 trillion in 2011, VND217 trillion in 2012, VND232 trillion in 2013, VND252 trillion in 2014 and around VND280 trillion last year.
In the 2011-2015 period, the city disbursed over VND98.7 trillion from its coffers for 435 works, including roads along canals, the Saigon River Tunnel, canal sanitation projects, expressways, bridges and steel overpasses.
For the next five years, HCMC looks to achieve annual GRDP growth of 8-8.5%, have total investments making up 30% of its GRDP and raise average GRDP per capita to US$9,800 in 2020 from the current US$5,300.
