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New urban area aims high
HCM City’s Thu Thiem sets a minimum of $5 billion for new investment projects
The HCM City government has approved a proposal by the Thu Thiem new urban area management that only projects worth a minimum of US$5 billion be considered for licensing.
The aim of this focus on large scale foreign investment projects of this magnitude was to develop the area into an industrialised and modernised township, said Le Hoang Quan, Chairman of the city’s People’s Committee.
Quan said the Thu Thiem new urban area needs big investment capital for projects involving complexes with observation towers, commercial centres and high rise apartment buildings, big hotels and tourist facilities.
City’s officials envisage the Thu Thiem area as a state-of-the-art township with an underground transportation system, international exhibition and financial centres, and modern healthcare and educational facilities.
Thu Thiem has this year seen two high tech investment projects licensed – the Viet Nam-Japan software park; and the Thu Thiem software park.
Officials say it is a good sign that most interested investors in major infrastructure projects in the area are big, experienced and having good financial capacities.
Some of these major projects could be valued up to US$10 billion each, Quan added.
The city’s government has authorised the Thu Thiem management to hire foreign consultants and experts to implement its designing and zoning plans.
With big investment projects, the construction of major infrastructures such as green parks, schools, hospitals will be connected together to benefit the residents living in the new urban area, according to Pham Anh Tuan, director of the construction project of Port Design and Sea Technique Joint Stock Company.
Thai Van Re, director of the city’s Department of Planning and Investment, said the focus on attracting big foreign investment in major infrastructure projects was reasonable as it would help facilitate the zoning plan and embellish the new urban area.
He said the city would also focus on environmentally friendly high-tech projects to post higher export revenues in line with the city policy to implement economic restructuring towards sustainable development of the city.
Under the new development plan until 2010, the Thu Thiem management board must complete the zoning plan on a 1/500 scale and submit the designs for infrastructure facilities this year to the Ministry of Construction.
The planning effort for the Thu Thiem area commenced in 2003. It is located in HCM City’s District 2, and the high-tech urban area is expected to ease population pressures in the inner city.
VNN
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