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Sun Group Investment and Development Saigon Sun Ltd. has submitted to the People’s Committee of Ho Chi Minh City (UBND TPHCM) and the Department of Finance a proposal for an investment project to construct the City Central Square and the Ho Chi Minh City Administrative Center in An Khánh Ward, Ho Chi Minh City.
According to the proposal, the City Central Square and the Ho Chi Minh City Administrative Center project falls under Project Group A, with the Chairman of UBND TPHCM as the decision-maker. The preliminary total investment already includes project interest of about 29,592 billion dong. The project duration is two years from the signing of the Build-Transfer (BT) contract.
During implementation, depending on actual investment conditions, the selected investor will report to state authorities to adjust the plan in accordance with current regulations.
Sun Group Investment and Development Saigon Solar Co., Ltd. proposes four component projects:
The proposal states that the four components together form a large-scale, important project. Because each main item requires a separate operating process, dividing the project into component projects is considered necessary to allow the management apparatus to specialize in each area.
It also notes that splitting the project into components—rather than concentrating a large amount of capital upfront—supports phased allocation of resources. This would allow financial institutions to assess risk and disburse funding based on progress and actual performance in each sub-area, while improving progress control and risk management during implementation.
The project covers about 46.7 hectares. The proposal describes the boundaries as follows: north borders Tổ Hữu Street, west borders the Saigon River, south borders Mai Chí Thọ Street, and east borders Nguyen Cơ Thạch Street.
The administrative-center complex is expected to accommodate fixed working needs for about 6,000–8,000 civil servants and public employees. It is also expected to handle 1,500–2,000 daily interactions with citizens and business representatives through a modern one-stop system.
The cultural and events facility is projected to attract 2,000–3,000 visitors daily when events are held.
The park is expected to welcome 1,000–3,000 visitors daily on weekdays.
The City Central Square is expected to have capacity of up to 268,000 people for political festivals and about 500,000 for cultural festivals.
The proposal includes a PPP-BT arrangement with land and state budget funding.
Source: Lê Vĩnh, Người Lao Động.
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