More financial aid proposed to improve Thu Thiem new urban area


Vice Chairman of Ho Chi Minh City People’s Committee Vo Van Hoan yesterday presented seven proposals in the first meeting of the 10th People’s Council. Two of them are related to infrastructure improvement in Thu Thiem new urban area.

More financial aid proposed to improve Thu Thiem new urban area ảnh 1 A corner of Thu Thiem new urban area 
In the proposal about changing certain content in land compensation and resettlement support for residents in Thu Thiem new urban area, HCMC People’s Committee asked for the approval from HCMC People’s Council regarding timeline adjustment and financial support increase for some cases to calculate precise compensation in accordance with the Land Law and to help residents stabilize their life more easily.

Particularly, the total additional amount of money needed is VND1,353 billion (approx. US$58.8 million). If households in the area are approved to resettle in apartment blocks, the total land needed is around 17,000m2.

HCMC People’s Committee suggested using the fund from the auction of land use right in Thu Thiem new urban area. It also volunteered to take charge of implementing these adjustments, strictly ensuring transparency and citizen rights in accordance with the law.

Vice Chairman Hoan then presented the proposal of HCMC People’s Committee on supplementing the estimate of HCMC budget revenues and expenses in 2021, focusing on the handling of budget advance and paying the credit loan related to Thu Thiem new urban area as instructed by the Ministry of Finance in May 2021.

It is estimated that the budget income until the end of the year will be VND41,382 billion ($1.8 billion) from the fund for apartments in the 12,500-apartment program (VND14,180 billion or $616.2 million), the land use auction (VND25,381 billion or $1.1 billion), the transformation from resettlement houses to commercial houses, and the resettlement for households in the concerned area.

HCMC People’s Committee proposed the addition of that total amount to the local budget revenue estimate for 2021.

Furthermore, it is proposed to add nearly VND36,914 billion ($1.6 billion) more to the local budget expense estimate for 2021 in order to pay the HCMC budget advance and credit loan as stated in announcement No.26 on April 1, 2021 by the Government Office (regarding the Prime Minister’s conclusion on Thu Thiem new urban area post-investigation actions).

This sum will be allocated to Thu Thiem New Urban Area Construction Investment Management Board to complete the above task.

The proposal is based on the report issued on March 31, 2021 by the Ministry of Finance about methods to handle the budget advance and credit interest payment related to Thu Thiem new urban area, as well as the announcement No.26 mentioned above.

By staff writers – Translated by Huong Vuong

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