city’s nine-month FDI disbursement hit 900 million USD, almost matching
the amount for the whole of 2009, but still only a small amount
compared with total FDI flow.
The yearly target of
1.43 billion USD is clearly within reach, however total FDI disbursed is
only 11.9 billion USD out of the total registered FDI of 28.4 billion
USD.
Projects operating in the HCMC City Export
Processing and Industrial Zone Authority (HEPZA) recorded the highest
FDI disbursement speed. HEPZA’s 479 valid projects have disbursed 82
percent of the total 2.8 billion USD registered, according to Nguyen Tan
Phuoc, Vice Head of the HEPZA authority.
In the new
Thu Thiem Urban Zone, three out of four licensed projects have been
kick-started, including a 120 million USD project to build 2,220
apartments in Binh Khanh ward, District 2.
The
Planning and Investment Department’s Deputy Director Lu Thanh Phong said
that slow disbursement is usually seen in large-scale real estate
projects that face obstacles in ground clearance and administrative
procedures.
The department and relevant authorities
have been adjusting and removing unnecessary procedures in order to
facilitate investment projects.
The city has also been
assessing large-scale real estate projects to find out reasons for
delay and is determined to withdraw licences from projects that cannot
provide sound reasons for long delays.
Recently, the Ministry of Planning and Investment decided to stop 34 projects in HCMC due to their slow progress./.
