VND20,000 billion in bonds to be issued for Thu Thiem project

The Ho Chi Minh Municipal People’s Committee has approved the issuance of VND20,000 billion in local bonds for the Thu Thiem new urban area project.

The bonds are being issued by the Ho Chi Minh Municipal People’s Committee and the HCM City Investment Fund for Urban Development.

VND14,000 billion will be issued in the first phase, from now through the end of 2009, and VND6,000 billion in the second phase, in 2010.

The Thu Thiem new urban area project will consist of a luxury hotel, an office building, a residential area as well as a finance, conference and international exhibition centre.

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