Ho Chi Minh City launches more than 280 trillion VND in urban infrastructure projects as Vingroup, Sun Group and THACO mobilize investments

Ho Chi Minh City officially launched five urban transport and infrastructure projects with total investment of more than 280 trillion VND. The ceremony, held in person and online across multiple venues, marks an important step toward the city’s goal of becoming an international smart city. The five projects are: Metro Line 2 (Ben Thanh – Thủ Thiêm); the Central Square and City Hall complex; the renovation of the Ho Chi Minh Museum – Ho Chi Minh City branch; the International University City in Xuân Thới Sơn commune; and Can Gio International Transit Port (investor selection completed). At the International University City project, Tran Van Bay, Vice Chairman of the Ho Chi Minh City People’s Committee, said the project is invested by Vingroup and is designed as a mixed-use urban development tied to education, research, and innovation, with the aim of becoming a symbol of knowledge and technology for the knowledge-and-technology city and contributing to rapid and sustainable city development. Chaired by Ho Chi Minh City Chairman Nguyen Van Dua, the event highlighted that, two days earlier, at a meeting with the city’s Party Committee and administration, General Secretary and President To Lam emphasized the demand that “Ho Chi Minh City must lead and translate strategic resolutions into practice,” with the motto “speak and act; act to the end; act for the people.” He underscored that this is not merely an administrative order but a trust and expectation placed on the city. The five projects, totaling more than 280 trillion VND, illustrate scale and ambition: 1) Central Square and City Hall project with nearly 30,000 billion VND in investment, led by SunGroup’s Sun Saigon Investment and Development Co., Ltd. The new City Hall is expected to house 6,000–8,000 workers and will form a modern, centralized administrative and political complex along the core Thủ Thiêm axis. 2) Metro Line 2 project (Ben Thanh – Thủ Thiêm) with total investment about 46,300 billion VND, executed under PPP and BT formats. The 6 km line with six stations will run underground from Ben Thanh – Ham Nghi, cross the Saigon River, run along Mai Chi Thọ Avenue, and rise toward Thủ Thiêm. It is planned to be completed and in operation by 3Q2030, laying the groundwork for surrounding high-end commercial and service districts. 3) International University City urban area, spanning nearly 880 ha with total investment of around 59,000 billion VND, located in the Xuân Thới Sơn commune area, with natural boundaries along An Ha Canal, Tây Ninh Canal, and other channels. The development will feature multifunctional land use, including green spaces and water bodies; education and research zones; housing; service and research blocks; and healthcare facilities, with more than 183 ha dedicated to education and research as part of a green–ecological–knowledge-based urban model. 4) Renovation and embellishment of the Ho Chi Minh Museum – Ho Chi Minh City branch at Nha Rong Port, covering over 1.4 ha with a total investment of about 68.7 billion VND, focusing on landscape and technical infrastructure upgrades. The project is expected to be completed by August 2026, enhancing riverfront connectivity and promoting tourism. 5) Can Gio International Transit Port, spanning 571 ha with investment around 128,872 billion VND. Ho Chi Minh City has awarded the project to a joint venture of VIMC and MSC/TiL, which together hold about 25% of global market share. The port aims to be a green, smart facility with a projected capacity of 4.8 million TEU by 2030, a pivotal step for Vietnam’s deeper integration into international logistics and the global supply chain. Source: Minh Hang, Market Life