Thủ Đức Calls for Investment in 11 Projects
A conference was held to realize Resolution 98, which includes specific mechanisms and policies for Thủ Đức City. This is a major opportunity for Thủ Đức to accelerate growth and achieve breakthroughs in its socio-economic development as the country’s first urban city within a centrally governed city.
According to Thủ Đức City People’s Committee Chairman Hoàng Tùng, mobilizing external resources is crucial given the limited budget. Non-budgetary investment projects in Thủ Đức will stimulate economic development and are a first step towards building and developing Thủ Đức City as envisioned.
Chairman Hoàng Tùng believes that Thủ Đức City has a major opportunity to develop infrastructure and socio-economic growth through public-private partnerships (PPPs). This is not only an investment method but also an innovative approach to driving sustainable growth by combining resources from both the public and private sectors, thereby achieving the desired development goals.
Thủ Đức City People’s Committee Chairman Hoàng Tùng speaks (Photo: Hà An)
“Public-private partnerships are not only the government’s intention but also the business community’s proposal for collaboration,” said Tùng. “The government and businesses work together, and most importantly, the projects must deliver socioeconomic benefits, benefits for investors, and especially benefits for the city, given the limited budget.”
At the conference, Nguyễn Thị Tuyết Nga, Director of the Thủ Đức City Investment and Trade Promotion Center, provided detailed information on each project, including its location, planning, current status, land use legality, and development direction within the PPP project. She also discussed and guided investors on how to approach and implement projects in the near future.
Accordingly, based on the list of projects proposed for implementation under the PPP model approved by the Ho Chi Minh City People’s Council, as well as projects submitted to the People’s Committee by the Department of Planning and Investment, the Thủ Đức City People’s Committee has identified 11 potential projects with a total investment of 2,053 billion VND.
Thủ Đức City leaders present investment certificates for 6 projects (Photo: Hà An)
Of the 11 projects, 3 are in the education sector and have been approved by Resolution 181 of the Ho Chi Minh City People’s Council. The other 8 projects to be invested in under the PPP model have been submitted to the Ho Chi Minh City People’s Committee by the Department of Planning and Investment, including 3 education projects and 5 sports and cultural projects, such as the Football Training, Coaching and Competition Center, the Tennis Training, Coaching and Competition Center, the Thủ Thiêm Multi-Purpose Stadium, and the Thủ Đức City Sports and Physical Education Center.
Elaborating on the land plots planned for investment, Mai Hữu Quyết, Vice Chairman of the Thủ Đức City People’s Committee, said that the 11 projects are located in prime locations and are mostly on public land, so investors do not need to worry about site clearance.
Thủ Đức City People’s Committee Vice Chairman Mai Hữu Quyết speaks at the conference (Photo: Hà An)
The Thủ Đức City government has pledged to work with businesses to resolve difficulties and ensure that projects are implemented promptly, resulting in social impact. As early as next week, Thủ Đức City will invite businesses to conduct site visits, observe the location of the land plots, and listen to business proposals in order to select the best options.
“That is just the first step, Thủ Đức City’s desire is that the projects bring social impact when implemented in reality. We hope that after receiving the investment decisions, investors will ensure the progress of the projects so that they become real, tangible, and provide residents with a stable and prosperous life, rather than remaining as empty land plots,” said Quyết.
Businesses Enthusiastic
At the conference, the Thủ Đức City People’s Committee granted in-principle investment decisions and approved investors for 6 residential development projects with a total proposed capital of over 6,860 billion VND and a land use area of over 146,000 m2. Thủ Đức City is urgently organizing the evaluation and approval of projects to meet the regulations in the near future.
Business representatives speak (Photo: Hà An)
Perspective of the Thủ Đức City Sports and Physical Education Center, which is being called for investment under the PPP model
Business representatives also expressed their gratitude for the Thủ Đức City People’s Committee’s efforts in resolving legal procedures, which had been a bottleneck. The businesses believe that forums and conferences like these will provide the government with diverse information from investors. At the same time, investors also have an official channel to receive information on local government policies for project investment implementation.
Upon receiving the investment decision, Lê Thị Hải Châu, Deputy Permanent Chairwoman of the Member Council of Mỹ Phú Co., Ltd., said that this is a motivation and opportunity to implement the project more effectively and in accordance with the law.
Lê Thị Hải Châu, Deputy Permanent Chairwoman of the Member Council of Mỹ Phú Co., Ltd., speaks (Photo: Hà An)
“With those project funds, I think it will attract investors to create products for sports, entertainment, and leisure activities, providing the city’s residents with diverse amenities. For Thủ Đức, I believe that it is one of the areas with great potential for development through public-private partnerships and is very effective for investors, not only domestic but also international, who are interested in participating and investing,” said Châu.
