HCM City wants private investors to fund renewal of canal region

Slum along the Van Thanh canal in HCM City (Photo: VNA)   HCM City (VNA) – Ho Chi Minh City islooking for private investors to fund urban development, especially therelocation of 20,000 households living along canals.Speaking at the “Open Call for Investment inProjects for the Rehabilitation of the Canal Region and Urban RenewalConference” last week, Tran Vinh Tuyen, vice chairman of the municipal People’sCommittee, said the goal of urban development is to improve the quality of lifefor people and build a modern and civilised city.Over the past 20 years, a programme to relocatepeople living along canals and reorganise their lives has moved 36,000households, he said.But the results have fallen short ofexpectations and more than 20,000 households along canals have not beenrelocated, Tuyen said.Urban development has not been inadequate, andconfused in terms of management, he admitted.Pollution and flooding remain bad, affecting thehealth and lives of people, detracting greatly from the quality of life, hesaid. Moreover, essential public services are not available to all, he said.To improve the situation, the city targets by2020 to complete the relocation of all 20,000 households and development of theareas along the canals they leave behind.The city is focusing on mechanisms and policiesto attract investors through private public partnerships (PPPs) and efficientlyuse funds for urban renewal projects.Tran Trong Tuan, Director of the city’s Departmentof Construction, said urban renewal projects along the canals in the city areclassified into three specific groups: urban development projects using theState budget, construction of housing by private developers together with urbandevelopment, and urban… [Read full story]


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