The city administration has asked the Thu Thiem Urban Area management to draw up detailed zoning plans and blueprints for major infrastructure. The plans are to be submitted to the Ministry of Construction by November.
The Thu Thiem Urban Area management has been authorized to hire international consultants to assist with the next stage of the project, approved by the HCMC government in 2006.
Infrastructure for the 657-hectare area is expected to cost US$10 billion. On completion in 2025, it will be a major new residential area of HCMC with an estimated 120,000 inhabitants.
The city administration plans to call for investors to build a $5 billion-plus complex, which will include exhibition, conference and finance centers, on a 30 hectare site.
In the 2008-2010 period, the HCMC government estimates the cost of building the new township on the Thu Thiem Peninsula to come to around VND13 trillion ($783 million).
The administration will fund around VND3 trillion to VND5 trillion ($180-301 million) and seek private investment of VND8 trillion to VND10 trillion ($481-602 million).
In February, the administration granted the first investment license in the urban area to Japan’s Vija Powersource Corp. to construct a $610 million software park called Vietnam – Japan Brain Park (Vija Brain Park).
On completion in 2012, the park will manufacture and outsource software for export, design embedded products and chips, provide training and promote high-tech trade and investment.
Source: TN, TBKTSG |
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