Sat Dec 07 23:50:00 UTC 2024: **HCMC Addresses Economic Growth Challenges, Infrastructure Issues, and Regulatory Compliance**

Ho Chi Minh City (HCMC) held a meeting bringing together representatives from various departments, including the Department of Construction, Department of Education and Training, and the HCMC Customs Department, to discuss strategies for boosting economic growth and addressing infrastructure challenges. The meeting, attended by nearly 40 journalists from 50 media outlets, focused on the implementation of HCMC’s Directive No. 12 aimed at stimulating economic growth until 2025.

**Slow Progress on High-Tech Park Projects:**

Progress on 19 projects within the High-Tech Park has been slow, with only one project completed (Nipro Vietnam factory) and one nearing completion (HCMC1 Data Center). Several projects are facing delays due to permitting and land acquisition issues. The High-Tech Park Management Board is working to identify bottlenecks and grant extensions where necessary.

**Customs Department Initiatives:**

The HCMC Customs Department highlighted its “Customs-Business-Trusted Partner” program, which includes automated customs clearance and management systems. This initiative aims to reduce business costs and improve information exchange. A pilot program encouraging voluntary compliance with customs regulations is also underway, resulting in improved compliance rates for participating businesses.

**Industrial Park Development:**

The HCMC Export Processing and Industrial Zones Authority (HEPZA) reported that investment in industrial zones reached $491 million by December 2024, achieving 89.4% of its target. HEPZA is working to develop an additional 800 hectares of industrial land, addressing land valuation issues to expedite land acquisition for businesses.

**Addressing Traffic Congestion:**

HCMC traffic police have addressed over 54,362 cases of illegal parking in the first 11 months of the year, with a significant portion (20%) concentrated in Districts 1 and 3. The city is launching a crackdown on commercial vehicle violations from November 25th, 2024 to February 15th, 2025, and promoting technology for enforcing parking regulations. The city is also requesting improved signage from the Department of Transport.

**Empire City Project Scrutiny:**

The Department of Construction addressed concerns regarding the Empire City project, stating that the project’s building permits were issued according to regulations. The department has issued fines for previous construction violations and warned citizens to thoroughly investigate the project and its developer before engaging in any transactions. The department emphasized the importance of understanding relevant real estate regulations to avoid potential issues.

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