VietNamNet Bridge – Prime Minister Nguyen Tan Dung has given HCMC his instructions on two master plans that are expected to boost its socio-economic development and urban zoning until 2025.

The government leader agreed with the city in carrying out the master plans that involve the development of infrastructure, real estate and finance sectors, administration reform, among others.

He named the ministries of Planning and Investment, and Construction to appraise the master plans before submitting to the government for approval.

Regarding infrastructure, the premier urged the Ministry of Transport, city authorities and relevant agencies to hasten preparation and complete financial plans for some key projects scheduled for development next year. These are the HCMC-Long Thanh-Dau Giay expressway, Binh Trieu-Hoa Hung-Tien Kien elevated railway and Dong Nai 2 Bridge.

The 55-km expressway requires about VND9.8tril (US$610mil) while a bridge and road linking the new city of Nhon Trach in Dong Nai with HCMC’s District 9 estimated at VND2.2tril (US$137mil).

Dung also asked the city authorities to complete the investment procedures for the first subway routes as soon as possible.

He agreed with the city’s proposal in calling for investors to develop the Binh Quoi-Thanh Da Peninsula in Binh Thanh District into an entertainment and amusement complex with hotels, restaurants, and water amusement facilities.

He told the Ministry of Justice to work harder in solving the city’s proposal on some issues such as the right of Viet kieu to own houses in Vietnam, and land use rights and house ownership in case of changing the house’s owner.

Regarding the development of the finance sector, one of the key sectors in the city’s economic re-structuring program until 2010, the Ministry of Finance and relevant ministries and agencies must help the city draft a plan for the financial market development.

Besides, the ministry should collaborate with the city authorities in improving the operation of the HCMC Securities Center as well as with the State Bank of Vietnam and relevant ministries in the management of the securities center in the city and throughout the country to ensure their sustainable operations.

HCMC posted a gross domestic product (GDP) growth rate of 11.2% in the January-June period, which was the highest annualized growth in five years. The growth target for this year is 12% and higher.

(Source: SGT)