HCMC desires to receive assistances for transportation development from Japan

HCM City - the country’s economic hub contributing nearly a quarter of Gross domestic product (GDP) and around 27 percent of total national budget revenue has been thristy of transportation investment and infrastructure development, said Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan in the meeting with Mr. Hirofumi Otsuka, Director of Asia Growing Markets Division and Sumitomo Mitsui Banking Corporation (SMBC) on April 27. 

Secretary  Nguyen Thien Nhan (R) and Mr. Hirofumi Otsuka, Director of Asia Growing Markets Division and Sumitomo Mitsui Banking Corporation (SMBC)

Secretary Nguyen Thien Nhan (R) and Mr. Hirofumi Otsuka, Director of Asia Growing Markets Division and Sumitomo Mitsui Banking Corporation (SMBC)

According to the city leader, investment demand for transportation development including construction of metro system and belt roads is very high, so the cooperation opportunities with banks are predicted to have many prospects. 

The city is preparing for building Belt Road 3 project with a length of nearly 100 kilometers, and planning to develop the city’s the eastern urban areas connecting district 2, 9 and Thu Duc as a new economic and creative urban area. 

Additionally, he highly appreciated assistances of Sumitomo Mitsui Banking Corporation through investment projects in Vietnam. As this reason, the city Party chief desired that the company would continue associating with Vietnam’s step- by- step development contributing to the friendship and cooperation relations between Vietnam and Japan. 

Mr. Hirofumi Otsuka affirmed desires of cooperation as well as investment in Vietnam in order to foster relationship between the nations.

In previous years, Sumitomo Mitsui Banking Corporation spent US$ 16 billion to improve infrastructure in  Southeast Asian countries. 

BY THANH HANG- Translated by Huyen Huong

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