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PM approves in-principle planning adjustment in HCMC
Tuesday,  2/12/2019, 11:45 

PM approves in-principle planning adjustment in HCMC

The Saigon Times Daily

A bird’s eye view of downtown HCMC – PHOTO: THANH HOA

HCMC – Prime Minister Nguyen Xuan Phuc has given his in-principle approval for the adjustment of a general master plan for HCMC to help the city develop in a fast but sustainable manner, reported the Government news website.

The prime minister called on the HCMC People’s Committee to cooperate with the relevant agencies to complete the tasks and adjustments related to the general planning process for the city.

Bidding will be set up to select a competent consulting unit to handle the review, assessment and formulation of zoning adjustments. Later, the Ministry of Construction will evaluate these adjustments in line with prevailing regulations.

As the economic hub of the country, the city will seek to maintain its development tempo, according to the municipal government.

Therefore, the master plan must be attractive to businesses and acceptable to the people. The plan should also be open and not based on set administrative boundaries for urban and suburban districts.

The local government will also introduce strict management regulations – combining planning with accountability for its leaders – to put the revised master plan into practice.

A leader of the HCMC Department of Planning and Architecture said at a conference in December that the revised master plan is expected to transform HCMC into a smart city, develop a creative urban area in the eastern part of the city, and build a sea tourism area in the outlying coastal district of Can Gio.

The highlights of the plan include combining zoning with human capital development and devising an appropriate urban structure to ensure technical infrastructure development, adapt to climate change and prevent flooding.

By 2045, the local government should be able to create a highly competitive environment; improve its infrastructure system; develop urban spaces that can minimize the effects of climate change; boost the efficiency of land use; and renovate and develop existing urban centers and satellite towns to minimize population pressure.

In a related development, the country’s capital Hanoi and HCMC remain among the global Top 10 most dynamic growing cities in the Short-Term City Momentum Index 2019 of the global real estate advisor Jones Lang LaSalle (JLL), which tracks socioeconomic and commercial real estate growth in 131 cities over a three-year period.

Hanoi was ranked third, while the southern metropolis was ranked eighth, making Vietnam the strongest performer, with two cities ranking the highest in ASEAN, stated JLL.

In its report, JLL noted that the two cities have performed very well to achieve socioeconomic momentum, with fast-growing populations and economies.

HCMC is generally viewed as the more business-friendly destination, attracting more overseas investment along with a higher corporate presence, whereas Hanoi has lagged commercially but is a city that is swiftly evolving, according to the report.

On the real estate front, Vietnam has “a small real estate investment market struggling with issues such as low transparency and a limited volume of investment grade stock,” JLL added.

However, steps are being taken to improve transparency, such as providing enhanced access to the land registry, better valuation practices and increasing the application of the green building certification system, the consulting firm remarked.

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