HCM City attracts RoK investment to smart urban development
Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan on August 16 urged the Republic of Korea SM Group to invest in the city’s latest innovative urban area, particularly in the spheres of transport, telecommunications, and housing for scientists.
Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan (right) and SM Group Chairman Woo Oh-hyun. (Source: VNA)
HCM City (VNA) – Secretary of the Ho Chi MinhCity Party Committee Nguyen Thien Nhan on August 16 urged the Republic of Korea (RoK) SM Group to invest in the city’s latest innovative urban area, particularly inthe spheres of transport, telecommunications, and housing for scientists.
At a reception for Chairman Woo Oh-hyun, the municipal leader suggested the group set up jointventures with local businesses in goods transportation and logistics.
Nhan expressed his belief thatwith its strength in materials, chemicals, energy, construction, and goodstransportation, the SM Group would meet the current demands for urbandevelopment in HCM City.
The official informed his guestthat the respective innovative urban area is located in the eastern side of city,covering Thu Duc district and Districts 9 and 2. It houses several universitiesas well as a high-tech zone, which has attracted many domestic and foreign businesseswith a total investment capital of more than 9 billion USD.
HCM City will create the bestpossible conditions for investors from the Republic of Korea to materialise theirprojects in the locality, he pledged.
For his part, Woo, who is also President of theKorea-Vietnam Economic and Cultural Association, said his group aims to studythe Vietnamese market so as to set up a representative office in SoutheastAsia.
After the office is established, it will implementinvestment projects in HCM City and Vietnam as well.
The SM Group will focus on goods circulation, maritimetransportation, and smart urban development, while expanding cooperation inproduction and business in Vietnam, he said.–VNA
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Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan (right) and SM Group Chairman Woo Oh-hyun. (Source: VNA) 
