Thu Duc City seeks $32 bln for investment

At a conference held on February 6 by the People's Committee of Ho Chi Minh City,  a general planning of Thu Duc city until 2040 was announced, and investment policies for 535 projects with a total combined capital estimated at over VND800 trillion ($31.7 billion) were introduced.

The general planning of Thu Duc City until 2040 was approved by the Prime Minister on January 21, 2025, according to Radio the Voice of Vietnam.

Under the planning, Thu Duc will be a first-class city under HCMC, and a transport hub for the east region of southern Vietnam, including road, rail, sea, and inland waterway transportation types.

Thu Duc City will be Ho Chi Minh City's eastern center for economics, science, technology, culture, and education and training. The projected population by 2030 is approximately 1.8 million, by 2040 approximately 2.6 million, and after 2040 approximately 3 million.

The 535 projects announced at the conference were classified by investment types, including projects to be invested through land use rights auctions; projects through investor selection bidding; projects under the Public-Private Partnership (PPP) model; projects through other methods in accordance with investment laws; and projects with public investment capital.

Chairman of the HCMC People's Committee Phan Van Mai called on domestic and foreign investors to boldly invest in Thu Duc and HCMC, committing to support investors to operate effectively and in accordance with the law.

On this occasion, Thu Duc City granted investment policy approval decisions to 12 housing development projects in 2024 with a total registered capital of over VND33 trillion ($1.3 billion).