Highly valued the city’s recent socio-economic growth, Mr. Nhan also mentioned bad traffic infrastructure which will impede the city’s development in the future; therefore, he ordered to carry out solutions to remove impediments helping the city developing more.
For instance, as he said. The Ring Belt No.2 has not been finished yet while the Ring Belt No.3 is still on paper and the work on just one metro line started.
Moreover, improper use of land is the city weakness, according to Mr. Nhan. He said the city presently is planning two new industrial parks in the area of more than 1,000 hectare showing that city leaders have begun to correct its mistakes slowly.
Party Chief Nhan mentioned attraction of business environment is another weakness of HCMC because its Vietnam’s Provincial Competitiveness Index (PCI) was ranked sixth and 14th in 2015 and 2019 respectively. The city must strive more to run in the top five.
Regarding flooding, Mr. Nhan said the city will face increasing flooding because of rise of seawater, land depression and increase in rainfall despite the fact that flooding has been reducing in the city. He shared the city will continue making researches for anti-flooding long-term solutions with the vision to 2050.
According to participants of the session, Ho Chi Minh City continues to be the nation's economic locomotive, with the biggest contribution to the national budget. Its industry and service also have high proportion in the country’s.
Ho Chi Minh City tops nation in foreign investment attraction accounting for 14.7 percent of the whole country and its economy gradually increased in recent five years.
Moreover, HCMC set up high-tech park 20 years ago contributing US$123 million in past five year and at least an estimated sum of US$ 1 billion for this time duration. The Quang Trung Software Park in HCMC earned more than US$400 million from export in the five past year and US$1.6 billion for this time duration.
Last but not least, HCMC is the first city in the country to carry out smart city project and lately, it has announced digitalization program which is significant for infrastructure development.