With a series of infrastructure projects passing through the area that are being and will be invested in, Hoc Mon and Cu Chi districts are receiving a series of investment project proposals from businesses.
Project proposals in abundance
Recently, DS Partners Co., Ltd. (Korea) sent a document to the Ho Chi Minh City People's Committee to propose that the company invest in a golf course project with an area of 80 hectares in Hoc Mon district. Notably, the location that this company proposed is Dong Thanh landfill, Hoc Mon district.
The investor said that after a long period of survey and research, the enterprise realized that investing in the golf course project in Dong Thanh commune, Hoc Mon district is one of the potential and feasible projects, because the land of the project was previously a landfill, so it is convenient for site clearance.
In the field of high-tech agriculture, Finc Bio-Tech Pte.Ltd (Singapore) has just proposed to invest in a mushroom growing factory in Cu Chi district, with an investment capital of 33 million USD. The project's goal is to provide edible mushroom products that meet Global GAP standards for the Vietnamese market. In addition, the project also performs the functions of a center for storing edible mushroom varieties and a center for researching and developing edible mushroom varieties.
The investor said that the mushroom factory will be managed according to the HACCP quality management system, applying high-tech agricultural production criteria. Once approved, the investor is expected to complete the construction of phase I within 12 months from the date of being granted the investment certificate.
A domestic "big guy", CEO Group Joint Stock Company, at the end of 2023, also proposed that the Ho Chi Minh City People's Committee consider approving the enterprise to report the detailed planning idea at a scale of 1/500 for a 215-hectare urban area in Tan Thoi Nhi commune, Hoc Mon district.
In Hoc Mon district, there is also an urban project with a scale of up to 880 hectares, total investment capital of 3.5 billion USD invested by Berjaya Vietnam International University Urban Company Limited (Berjaya Vietnam Company). The project has made new progress as competent authorities are approving project adjustments to start construction soon.
Previously, in April 2022, at the investment promotion conference in these two localities, 10 projects with a total investment capital of more than 430 million USD were granted investment registration certificates. In addition, 31 memorandums of understanding with a total capital of more than 16.2 billion USD were also committed to by businesses for investment.
Seize the opportunity
It is no coincidence that Hoc Mon and Cu Chi receive the attention of investors. One of the factors that investors see is that the land fund for developing projects here is still very large. Currently, in these districts, most of the land is agricultural land, so compensation will save costs compared to the inner city.
In terms of geographical distance, the distance from Tan Son Nhat Airport to Hoc Mon and Cu Chi is only about 15 - 20 km. On the other hand, these districts are all located at the gateway to Ho Chi Minh City for traffic to provinces such as Tay Ninh, Binh Duong, Binh Phuoc and Cambodia.
Another favorable factor that investors see is a series of regional transport infrastructure projects that are under construction and are preparing for investment, including Ho Chi Minh City Ring Road 3 (under construction); Ho Chi Minh City - Moc Bai Expressway (under pre-feasibility study, expected to start construction in 2025); National Highway 22 expansion project connecting to Tay Ninh province (currently 3 investors are interested). After completing these infrastructure projects, traveling from Hoc Mon, Cu Chi to provinces such as Tay Ninh, Binh Duong, Binh Phuoc and Cambodia will no longer be an obstacle.
Ho Chi Minh City is adjusting the City Master Plan to 2040, with a vision to 2060. In particular, large-scale urban centers will be built at the city's gateways - where there is a large land fund and low land prices, to create living and working places for the majority of workers and increase population density. In particular, Hoc Mon and Cu Chi districts are planned as northern cities.
Regarding long-term planning, architect Ngo Viet Nam Son assessed that the Hoc Mon and Cu Chi areas have high ground suitable for building high-rise residential areas because of their solid foundations and low construction costs. “Urban development towards Cu Chi and Hoc Mon will help Ho Chi Minh City to depopulate the inner city and reduce damage caused by climate change causing rising sea levels and flooding,” said Mr. Son.
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