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On April 18, 2026, during a dedicated session, the Ho Chi Minh City People’s Council (XI term) approved a resolution to stop budget-funded investment for two projects: the Ho Chi Minh City Children’s Palace and the Symphony, Opera and Ballet Theater.
The Children’s Palace project was approved with an investment of VND 1,100 billion and began construction in October 2025 in the Thu Thiem new urban area.
The design calls for a 10-story building with multiple functions, including a multipurpose hall, stage, technical rooms, a sports hall with more than 1,000 seats, an exhibition-and-event space, cinema, library, swimming pool, STEM-robot-arts spaces, literary and cosmic-experience areas, a model exhibition zone, and a restaurant. The project is targeted for completion in 2028 to serve children’s recreation and education needs in the city.
The Symphony, Opera and Ballet Theater project was previously approved with an investment of VND 1,500 billion, later increased to VND 2,000 billion, with a capacity of 1,700 seats.
The venue is planned for the Ba Son corner, connected to Nguyen Hue walking street via a pedestrian bridge. The project was identified as an urgent priority for the 2021–2025 period.
The decision to halt budget-funded investment is intended to mobilize private resources and transition the two projects to a public-private partnership (PPP) model within the new Political – Administrative Center in Thu Thiem.
City officials said the move aims to attract non-budget capital to reduce pressure on public funds and accelerate socio-economic development. Reports also indicated that a number of investors are interested in PPP arrangements for the Political – Administrative Center and a green park at the central lake, consistent with the city’s strategy to bring in outside-of-budget resources.
Bcons Joint Stock Construction and Investment Company proposed financing the Children’s Palace under a Build-Transfer (BT) arrangement, which would not require upfront payment. The proposal outlines a design phase of about three months and construction of roughly 12 months, targeting operation within two years to align with the overall administrative-center master plan.
Officials also noted that the new theater project would be significantly larger than the old plan. The earlier 2018–2025 theater project, initially approved at VND 1,500 billion and later increased, is considered outdated for current urban development needs. The city plans to replace it with a modern PPP-based project that fits contemporary requirements.
The city will reassess land use. The Cung Thiếu nhi site has been shifted from an urban-cultural land use to public green space, while the theater project remains linked to the Thủ Thiêm development cluster.
Municipal leadership emphasized that suspending the two budget-funded investments is necessary to ensure consistency with approved planning and to avoid duplication of projects.
During the discussion, the City’s Budget and Economic Committee said that transitioning to PPP aligns with policy directions and could encourage broader social investment. The city plans to invite experts and relevant agencies to evaluate each component during the design phase.
Officials stated that the new theater is expected to exceed the old project in both scale and cost. For the Children’s Palace, the city projected it would require substantially more funding—about six times the original VND 1,100 billion, or roughly VND 6,000 billion.
City officials reiterated support for accelerating investment in cultural and public facilities while shifting large-scale financing toward private-sector participation. The city also confirmed that the Quảng trường and Trung tâm hành chính in Thủ Thiêm would proceed under new leadership arrangements, with construction aimed to begin around late April.
The implementation plan presented includes completing the Children’s Palace within two years using a greenfield site and delivering a modern theater to meet demand for cultural and social life in Ho Chi Minh City and surrounding areas.
The administration said it will continue engaging experts and stakeholders to ensure the projects meet technical standards and city planning objectives, with the goal of delivering high-quality cultural infrastructure as part of the city’s broader development strategy.
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