Turning Golden Land into Growth Figures

Ho Chi Minh City is taking a decisive step towards unlocking the economic potential of its prime real estate, with the City Council approving a list of 33 land plots designated for Build-Transfer (BT) projects. This strategic move is designed to convert underutilized 'golden land' assets into vital infrastructure, propelling the city towards its ambitious growth targets.

Many of the selected plots, located in the city center and the Thu Thiem new urban area, have been long-standing sources of frustration due to their prime locations being left idle for years. Issues ranging from inspection backlogs to legal entanglements have prevented these valuable assets from contributing to the city's development. The recent approval aims to cut through these bureaucratic hurdles.

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The list of 33 land plots approved by the City Council this time mostly consists of familiar plots in the center and the Thu Thiem new urban area, which have not been able to develop their 'golden' value due to various issues.

The initiative is particularly focused on transforming areas like the 2-4-6 Hai Ba Trung, 8-12 Le Duan, and the Thu Thiem area's Khu dat 2C. These sites, some of which were temporarily beautified with parks and flower gardens for the Tet holiday, are now slated for development into essential public facilities and urban amenities.

This bold plan reflects Ho Chi Minh City's commitment to achieving double-digit growth by leveraging its land resources effectively. By prioritizing the development of these strategic plots through BT contracts, the city aims not only to create much-needed infrastructure but also to stimulate economic activity and enhance the quality of life for its residents, turning dormant assets into engines of progress.

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The city aims to turn these 'golden lands' into 'gold' by using them to pay investors for infrastructure projects.