Cu Chi lures investor interest with beneficial policies, location

Tuesday, Jun 14, 2022 07:46

HCM City's Cu Chi District is located right on the banks of the Sai Gon River and close to provinces that are well established industrial centres, making it ideal for development as a logistics hub and an eco-tourism destination. — Photo

The city’s Cu Chi District is attracting great investor interest with favourable policies, logistical advantages and future development plans.

Bordering Hoc Mon District and the provinces of Binh Duong, Tay Ninh and Long An, Cu Chi aims to become a logistics hub connecting industrial zones in Binh Duong, Tay Ninh and Long An.

Many investors have already shown interest in developing major projects in the district including five-star nursing home facilities offering high-end medical and health care services.

Nguyen Thi Le, chairwoman of the district People's Council, said Cu Chi has seen rapid urbanisation in recent years with the creation of new urban areas, construction of new roads and improved lifestyles.

“Many urban development criteria including population, area, socio-economic indicators, education levels and urban infrastructure have reached the standards of a city,” she said.

To achieve the goal of becoming a city within the city like Thu Duc, Cu Chi must improve state management in all fields, including the fight against corruption and wastefulness, experts said at a conference in April.

President Nguyen Xuan Phuc said at the conference that the city should promote investment in the two suburban districts of Cu Chi and Hoc Mon as part of the plan to develop the city further to the northwest, creating long-term livelihoods for residents and developing new sustainable urban areas.

Saying that the two districts would provide new growth impetus for HCM City, the President stressed the importance of carefully selecting projects to call for investment, ensuring that the potentials and advantages of both suburban districts are optimized.

To achieve this goal, Phuc said both districts should improve state management in all fields, including the fight against corruption and wastefulness.

They must also work to improve the business climate to solicit investment in developing new urban areas, industrial parks, tourist areas and commercial zones, he said.

Hoc Mon and Cu Chi are calling for investment in 55 projects worth a total of VND285 trillion (US$12.46 billion) in infrastructure, industry, high-tech agriculture, trade-service, education-culture-sport and transport.

Nguyen Anh Tuan, head of the Department of Planning and Architecture's general planning management, said Cu Chi should also be developed into a green urban area for tourism by maintaining trade villages.

Ecotourism should be developed at the Cu Chi Tunnels and the Ben Duoc Temple, he added.

Huynh Dang Nhut Tam, director of Vietnam Brand Travel Company, said to improve its tourism products, Cu Chi District must improve its road infrastructure to better connect with downtown HCM City.

Though it is just 30km from downtown HCM City, it now takes more than two hours to get there by car because of traffic congestion.

The district would also need to improve its tourism human resources, Tam said.

While many businesses are looking to speed up their investment in Cu Chi, there are many implementation difficulties that need to be resolved.

Some of the common problems facing most investment projects include compensation and site clearance, overlapping land ownership, bidding for public land and plans that do not match reality.

The President asked the administrations of HCM City and Cu Chi District to coordinate with relevant agencies to solve the above problems and improve the investment and business environment, while speeding up administrative reforms. — VNS

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