Special economic zone to take shape in HCM City
(VOV) -Ho Chi Minh City is on the path to creating a special economic zone concentrating on bolstering its GDP through the development of the sea-borne economy.
Currently plans are in the early developmental stages for a special marine economic zone in District 7, Binh Chanh, Nha Be and Can Gio.
Vo Van Luan, Chief of the Municipal People's Committee Office on June 23 said that the city has recommended the Ministry of Investment and Planning allow the establishment of the special economic zone in the four districts south of the city.
He added that the city has strongly suggested the Government set up the special economic zone in order to fully tap the potential of the area, so as to help meet the city’s economic development goals.
The local economy will be developed based on a service-industry-agriculture structure, with priority given to finance - banks - credit - insurance, trade, transport, warehousing, port services, postal and telecommunications, information technology - communications, and real estate.
Ho Chi Minh City needs estimated investment capital of nearly US$470 billion in the next 10 years to fund the development.
Chairman of the Municipal People’s Committee Le Hoang Quan said the special economic zone is a new model and one of major projects to support the city’s sustainable development for 2016-2020 with a vision toward 2030.