Thu Duc city calls for development investment of $33 billion
Thu Duc city calls for development investment of $33 billion
Thu Duc city unveiled a new development plan at a conference in Ho Chi Minh City on February 6, calling for investments in 535 projects totalling over VND800 trillion (around $33 billion).
The projects include multi-functional residential areas, convention and exhibition centres, hotel, sports, and entertainment complexes, and transportation infrastructure.
Thu Duc city has called for investments in more than 530 projects. Photo: Le Toan |
Thu Duc is part of Ho Chi Minh City and the first area to use the city-within-city model in Vietnam.
The city was founded by the National Assembly in 2020 by combining districts 2, 9, and Thu Duc, aiming to become a new economic hub for Ho Chi Minh City and the country.
Speaking at the conference, Chairman of Ho Chi Minh City People's Committee Phan Van Mai emphasised the important role of Thu Duc in the city's urban development strategy.
Mai requested Thu Duc authorities to coordinate closely with departments and branches to survey the current situation of the region and build a development roadmap suitable for each stage. Zoning plans must be completed no later than September 2025.
In addition, Mai proposed Thu Duc authorities strengthen cooperation with neighbouring provinces such as Dong Nai, Binh Duong, and Ba Ria-Vung Tau to utilise common advantages and create motivation to develop regional links.
“In addition, Thu Duc also needs to focus on training high-quality human resources, encouraging innovation, and improving the effectiveness of administrative reform to better serve individuals and businesses,” Mai said.
This plan, according to Mai, has a particularly significant role for the development of the city. It will provide an important legal basis for orienting spatial development, while organising economic infrastructure, social infrastructure, and land use planning.
“Through this plan, we can exploit and maximise our potential and strengths to realise the goal of developing Thu Duc into a creative, highly interactive city by 2040. Thu Duc will rise to the forefront Ho Chi Minh City's economy through economic activities to become the country's financial centre, before moving towards the international area,” he added.
According to the plan, Thu Duc population by 2030 will stand at about 1.8 million people by 2040 and about three million people after 2040, from the current 1.2 million people.
The urban space is divided into nine development zones, associated with 11 key points based on the cultural values, history, and specific advantages of each area.
The plan will have a profound impact on many aspects of the locality, from the management and administration of the government to individuals and businesses, opening up new development directions thanks to connectivity and synchronisation through the nine development zones.
“This will remove many difficulties in granting construction permits and other legitimate needs for individuals and businesses,” Mai added.
In particular, transportation infrastructure is one of the important highlights of the new plan.
Thu Duc will develop nine urban and inter-regional railway lines, directly connecting the rest of Ho Chi Minh City and Long Thanh International Airport, aiming to meet 50-60 per cent of people's travel needs.
New routes will be deployed to enhance inter-regional connectivity, including a route connecting Cat Lai - Phu Huu Port with Ring Road 3 and Ho Chi Minh City - Long Thanh - Dau Giay Expressway, and a route connecting Ring Road 2 with Ho Chi Minh City - Chon Thanh Expressway.
Another notable point of the new plan is that Thu Duc will increase land for urban education function by nearly five times, land for medical facilities by more than 10 times, and land for cultural and sports facilities by about three times.
On this occasion, Thu Duc was also awarded a decision approving investment policies for 12 housing development projects, with total registered capital of more than VND33 trillion ($1.37 billion).
