HCM City authorities are encouraging local
and foreign enterprises in the city to invest in fields that deal with science
and high technology, as part of their economic restructuring plan to reach
certain targets by 2015.
The aim
is to improve the service sector and reduce the proportion of industry and
construction jobs and companies in the economy.
The
city is focusing on nine service fields and four key industrial fields.
According
to Lu Thanh Phong, deputy director of HCM City's Department of Planning and
Investment, by the end of 2015 the service sector would account for 57 per cent
of GDP, industry 42 per cent and agriculture 1 per cent.
Phong
said investors would receive a reduction in business income tax up to 20
percent within 15 to 30 years and a 50 per cent tax exemption for a maximum of
nine years.
The
city also plans to shift to four key industrial sectors: information
technology, manufacturing and mechanics, chemical-rubber-plastics, food and
food processing.
Tran
Phuoc Dung, head of the management board of HCM City Hi-Tech Agricultural Zone,
said they would encourage foreign investors to invest in agriculture that uses
advanced technology.
According
to Dung, the city's Hi-Tech Agricultural Zone covering an area of more than
88ha in Cu Chi District is awaiting investment for 56.5ha in the zone.
Businesses
with foreign investment capital in HCM City accounted for 24 percent of the
city's GDP in 2011.
FDI
businesses also made up 20 percent of the city's total investment capital for
the entire society.
VNS
Business & Investment Opportunities
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