HCM City calls for Singaporean investment in infrastructure, environment

06-Aug-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

HCM City expects to boost cooperation with Singapore in various sectors, especially infrastructure and environment, the municipal vice chair, Vo Van Hoan, said at a meeting with Kow Juan Tiang, deputy executive director of Singapore’s Infrastructure Asia, on August 2.

Hoan said HCM City is a major urban area with fast growth, but it is facing many challenges, especially as its infrastructure is unable to keep pace with the city’s economic growth, news site Vietnamplus reported.

In the recent past, the city has expanded investment in infrastructure, particularly 210 projects with a total capital of $53.8 billion, in traffic infrastructure, trade, service, urban planning, education, healthcare, culture, sports, tourism and entertainment sectors.

In addition to infrastructure development, the city has called for investment in wastewater and solid waste treatment, Hoan noted, adding that the city wants to learn about modern technologies for treatments.

For his part, Kow said that HCM City and Singapore have developed a solid relationship in past years. With its experience, financial capability and global network in infrastructure development, Singapore seeks to join the city’s infrastructure projects.

Regarding the environment sector, Singapore is also willing to cooperate, share experiences and support HCM City in attracting investments, Kow added.

In related news, Singaporean Consul general in HCM City Roy Kho said on August 2 that partnership between Vietnam and Singapore has developed in many sectors, especially trade and investment.

Speaking at a function to mark the 54th Singaporean National Day (August 9), the diplomat said that as of June, Singapore had invested $49.1 billion in 2,300 projects in Vietnam, making it the third largest investor in the country. In addition, Singapore has developed seven industrial parks in Vietnam, creating jobs for more than 240,000 local labourers, according to Sai Gon Giai Phong newspaper.

Speaking at the event, HCM City vice Chair Le Thanh Liem said Singapore is the largest investor in HCM City, with 1,100 projects worth $10.73 billion. The trade value between the city and Singapore amounted to over $7 billion last year.

Large Singaporean firms, such as Keppel Land and CapitaLand, have been present in the city for many years, Liem added.



Category: Business, Vietnam

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