Ho Chin Minh City chiefs plan development

By George Reynolds

- Last updated on GMT

Related tags: Industry, Ho chi minh

A project to improve the quality of food production in Ho Chin Minh
(HCM), will increase the city's competitiveness in the global
market, the local administration has said.

Over the next four years, the HCM City's People's Committee, plans to reduce low quality intensive labour industries in favour of high-tech industrial processes. Growing international demand for domestically produced products, such as coffee, tea and seafood, has led to increasing demand for processing capacity in the area. According to government predictions, Vietnam expects a sharp increase in direct foreign investment in 2007, with spending on new projects to rise by 17.6 per cent. Phan Huu Thang, director of the country's foreign investment agency, said government expects overseas companies to spend $16bn in Vietnam this year. The HCM project will fund various business developments, including plastics and rubber production, as well as provide investment for the city's key industries, including the food processing. Nguyen Huu Tin, deputy chairman of HCM City's People's Committee, said that plans also included strengthening economic ties with regional and global communities to attract foreign investment for industry and help create popular brand names for industrial products. Calls for industry to develop human resources and upgrade management skills to provide a qualified workforce for industrial growth in the coming years, was made officials. The plans develop HCM will focus on building specialised industrial parks, such as zones for mechanical engineering, which should relocate polluting factories from the inner city into outlying districts to ease air and water pollution, the city said. More preferential policies involving land rental, simplified licensing procedures, and construction of industrial infrastructure will be offered to both domestic and foreign investors, Tin said. To reduce city overcrowding, officials plan to introduce policies to move labour intensive industries to adjacent provinces. Other plans include providing assistance to firms to set up water treatment systems to reduce the impact of pollution and waste. The city said it will also help to provide staff and provide consultancy on industrial renovation and trade promotions in the global market.

Related topics: Policy, South East Asia, Supply chain

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