Japanese investors eye resettlement project in Ho Chi Minh City
Japanese investors eye resettlement project in Ho Chi Minh City
At the seminar themed “Improving and developing urban areas in Ho Chi Minh City” held on March 3, Japanese investors offered taking part in the projects to remove and re-settle slums along the city’s canal system.
The seminar was held by the Ho Chi Minh City Real Estate Association in collaboration with the Japanese Conference on Overseas Development of Eco-City (J-CODE).
According to the Ho Chi Minh City Department for Construction, the programme named “Improving and developing urban areas of Ho Chi Minh City” aims to resettle more than 21,800 households living in slums along the canal system, mostly in districts 4, 7, and 8.
“Investing and developing urban areas in Vietnam is one of the missions which Japan aims to invest in, to maintain and grow the relationship between the two sides. Japanese investors will also give priority for private companies to join this task to invest in a model environment-friendly infrastructure system that,” said Keiji Kimura, chairman of J-CODE, at the seminar.
J-CODE now has more than 57 members experienced in financial management, infrastructure zoning, and construction.
Su Ngoc Anh, director of the Ho Chi Minh City Department for Planning and Investment, said one of the greatest challenges at the moment is the insufficient investment capital for land compensation. The city would need more than VND25.7 trillion ($1.14billion) for this task only.
Before J-CODE, Japan International Cooperation Agency (JICA) and the World Bank have also committed to support the city’s programme to improve and develop its urban areas.
According to Tran Le Kien, deputy director of the Ho Chi Minh City Construction Department, for the last 20 years, the city has moved more than 36,000 households living in slums along the canals. “There are still many left and these households are suffering from strong pollution,” Kien said.
