HCM City Given Greater Powers in Project Licensing

HCM City Given Greater Powers in Project Licensing

The Ministry of Planning and Investment has supported the a proposal by Ho Chi Minh City to grant licences to foreign-invested projects valued up to US$40 million, a four fold increase in comparison to the present sum.

At a working session with the People’s Committee of Ho Chi Minh City, Minister of Planning and Investment Vo Hong Phuc said that the ministry supported the government’s decision to allow Ho Chi Minh City to grant licences to Group A projects on developing public health and education establishments, housing businesses, hotels, office buildings for lease, tourism and entertainment facilities. The decisions follow unnecessarily long waits for licences while many projects worth tens of thousands of US dollars have had to wait for the minister’s approval.

The city can also grant licences to projects which have had precedents without asking the Ministry of Planning and Investment for permission. Phuc said that the Ministry would send proposals made by Ho Chi Minh City to the government for consideration.

• M.N