Accordingly, the task force led by Mr. Le Trung Chinh, Chairman of the City People’s Committee as head, and Mr. Le Quang Nam, Vice Chairman of the City People’s Committee as deputy head, has been established.
The task force includes the directors of the Departments of Construction, Agriculture and Rural Development, Finance, Science and Technology, the Office of the City People’s Committee, and the Management Board of Investment Construction of Civil, Industrial and Technical Infrastructure Projects in Danang.
Danang sets up a task force to commence studying the idea of land reclamation and constructing artificial islands.
The task force’s functions and tasks include researching and proposing to the City People’s Committee on policies, orientations, mechanisms, and comprehensive solutions related to the idea of land reclamation in Danang Bay.
It will also oversee key tasks such as defining the goals, scope, and content of the research; considering and selecting preliminary options and ideas; and directing the collection of necessary information, data, and field surveys to support the research.
The team will coordinate the activities of relevant departments, sectors, local authorities, and units during the research and proposal process for various schemes.
They will assess the social and economic effectiveness, technical feasibility, environmental impacts, sustainability, and alignment with the city’s and region’s socio-economic development orientations, urban planning, and related plans.
Additionally, they will synthesize and periodically report to the Party Committee, the City Chairman on relevant issues, and propose solutions to handle difficulties and obstacles for guidance and direction.
At a recent meeting with voters, Mr. Nguyen Van Quang, Secretary of the Danang Party Committee, also shared: “The city is urgently submitting to the Prime Minister for the soon-to-be-issued decision on the establishment of a Free Trade Area. Forming a Free Trade Area means creating a new economic institution to attract investment in production, logistics, and high-end trade services. This will generate jobs and attract high-quality human resources, transforming Lien Chieu and Hoa Vang into developed urban areas, in line with the models of developed countries.”
Danang is also studying a proposal and calling for investment in the construction of five artificial islands in Danang Bay, which will create approximately 48 kilometers of new coastline on these islands.
“This is a massive and unique project. The city is directing a thorough study and the development of special options, and we must find an investment method with very special mechanisms to develop a model similar to that of Dubai today,” said Mr. Quang.
The Secretary of Danang also stated that if successful, the project would not only boost the city’s socio-economic development for the next few decades but also build a new image and brand for Danang in the region and internationally.
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The auction land prices in certain provinces such as Hung Yen and Thai Binh have reached astonishing levels, with winning bids as high as VND 153 million to 158 million per square meter, surpassing even the highest prices in some districts of Hanoi. This begs the question: what is driving these sky-high prices?
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In the context of expected consumer recovery, the regulatory adjustments for credit management offer a promising path for consumer finance companies, and by extension, a potential profit recovery for retail-focused banks. With bank stock valuations at a low point, this presents an opportune investment landscape for 2025.
