According to Decision No. 6179/QD-UBND issued by HCMC People’s Committee, there are four prioritized solutions, consisting of building a common database and developing an open database ecosystem; forming an operating center for the Smart City Project; constructing a simulation center to forecast urban economic – social status; and creating an information security center for the whole city. The first phase of the first solution is going to be launched in January 2019 . Bid invitation will be held in the third quarter to chose investors. Regarding the second solution, in January 2019, the first phase will start in the HCMC People’s Committee thanks to all the information received from current camera systems of the Office of the HCMC People’s Committee as well as other departments, state organizations and units; along with the emergency numbers of 113 – 114 – 115, the number 1022 to receive and process information related to urban technical … [Read more...] about Status of four focused solutions for smart city announced
Ho chi minh city infrastructure investment joint stock company
HCMC party chief prompts public investment disbursement
The statement was made by Politburo member and secretary of HCMC Party Committee Nguyen Thien Nhan at the 22th conference of the executive board of HCMC Party Committee on November 29. According to Mr. Nhan, disbursement progress has been too slow at many agencies. In response to residents’ proposal to repair roads and tackle the flooding, relevant agencies answered shortage of capital. That is just part of the issue as many agencies have not used up their arranged public investment funds. Specifically, disbursement reaches only 70 percent at the Management Board on Hi-Tech Agriculture and 59 percent at the Department of Agriculture and Rural Development. HCMC party chief Nguyen Thien Nhan (Photo: SGGP) It is only 58 percent and 53 percent at HCMC Transport Department and Steering Center on Urban Flood Control Program who are responsible for handling traffic jam and floods. In urban and infrastructure field, disbursement is only 43 percent at Ho Chi Minh City … [Read more...] about HCMC party chief prompts public investment disbursement
NA adopts resolution adjusting medium-term public investment plan
Under the resolution, total foreign capital in medium-term public investment will be adjusted up from VND300 trillion to a maximum of VND360 trillion, while domestic capital will be reduced correspondingly to meet disbursement requirements of projects using foreign capital. Capital for important national projects is reduced to VND70 trillion from the initial VND80 trillion. The NA allows the use of the common reserve fund of the medium-term public investment plan for 2016-2020 on the basis of ensuring the annual State budget’s balance and maintaining the ceiling for public investment at VND2,000 trillion along with the overspending rate and public investment safety as decided by the NA. The NA allows localities to allocate annual public investment plan using capital from local budget on the basis of collection while ensuring that it will not surpass the allowed overspending rate. The People’s Councils at all levels are assigned to decide the reserve … [Read more...] about NA adopts resolution adjusting medium-term public investment plan
National Assembly adopts resolution adjusting medium-term public investment plan
A meeting of the National Assembly's sixth session (Photo: VNA) Hanoi (VNA) – The 14th National Assembly adopted a resolution on adjustments to the medium-term public investment plan for 2016-2020 with 89.48 percent of votes on November 12 during the on-going 6th session. Under the resolution, total foreign capital in medium-term public investment will be adjusted up from 300 trillion VND to a maximum of 360 trillion VND, while domestic capital will be reduced correspondingly to meet disbursement requirements of projects using foreign capital. Capital for important national projects is reduced to 70 trillion VND from the initial 80 trillion VND. The NA allows the use of the common reserve fund of the medium-term public investment plan for 2016-2020 on the basis of ensuring the annual State budget’s balance and maintaining the ceiling for public investment at 2,000 trillion VND along with the overspending rate and public investment safety as decided by the NA. The NA … [Read more...] about National Assembly adopts resolution adjusting medium-term public investment plan
Ho Chi Minh City renews growth model
Transformation based on science and technology The world is entering the fourth industrial revolution (also known as Industry 4.0), with the power of innovation. Not to be out of the trend, many businesses in Ho Chi Minh City are trying to modernise technology that aims to increase competitiveness and improve product quality, and participate in global supply chains. Minh Nguyen Industrial Supporting Joint Stock Company (Minh Nguyen), at the Saigon Hi-Tech Park (SHTP), is the first domestic supporting industry enterprise to directly participate in the supply chain of high quality components for Samsung. Chau Ba Long, General Director of Minh Nguyen, said: "To be selected by Samsung as the first-class supplier of supporting industrial products, Minh Nguyen has paid attention to the investment strategy of automation technology. It not only improves the quality of products but also provides a large number of orders of Samsung in particular and other units in general. SHTP is a location to … [Read more...] about Ho Chi Minh City renews growth model