The new Thu Duc City. By 2040, HCM City is expected tobethe nation’s largest economic hub fortourism, industrial servicesand high-tech agriculture, and willfocus on adaptingto climate change and rising sea levels, according tothecity's master plan.

According to a Government decision on the master plan, the city is expected to have 13-14 million people by 2040 and 16 million by 2060. It plans to allocate 100,000-110,000ha of land for urbanisation by 2040. 

The city will remain the country’s economic and technological hub, focusing on innovation as part of the national urban development strategy.

Under the master plan, the city will develop a complete infrastructure linking the city with neighbouring provinces. The newly established Thu Duc City will be developed into an innovative city model that will support the development of HCM City and the southern region.

The city will integrate urban development with transit-oriented development (TOD), including underground-based public transport solutions. 

The master plan requires the effective use of the city’s natural conditions and ecosystems to protect the environment and adapt to climate change.

The Government has asked the city People’s Committee to develop a plan to allocate capital and approve the total cost estimate, and work with the Ministry of Construction and others to make adjustments to the master plan.

The city has also set a goal by 2060 to become an international trade and financial centre in the Asia-Pacific region. The city will create an appealing working environment with a diverse culture, heritage conservation, and a scenic river system. 

HCM City has faced serious flooding for more than 20 years. The previous city’s development plan, which was done before 1975, was designed for only two million people. It has failed to keep pace with the rising population.

New Thu Duc City

According to a recently revised master plan submitted to the city government by the Department of Planning and Architecture, the new Thu Duc City, formed by merging districts 2, 9 and Thủ Đức District, will have 18,930ha of land for urban construction by 2030, and 19,994ha by 2040.

It currently has a population of more than 1 million. The figure is expected to reach 1.5 million by 2030, and 1.9 to 2.2 million people by 2040 and 3 million by 2060. 

The new Thu Duc City will implement a range of key projects to create an innovative ecosystem.

These include the Quang Trung Thu Duc Software Park, the Advanced Technology and Innovation Centre (under the Department of Science and Technology), a High-Performance Computing Centre, a Creative Start-up Centre, an Advanced Research Institute (under the National University of HCM City), and a Centre for Research and Pharmaceutical Production Products, among others.

The new city will also focus on developing quality human resources. 

HCM City will offer special incentives to attract investment in these projects. 

As the city’s eastern gateway, the new Thu Duc City will be developed into a centre of innovation to assist the growth of HCM City and seven key economic hubs in the South.

Source: VNS  

HCM City seeks VND17.2trn from state budget for key urban projects

HCM City has sent an urgent request to the Ministry of Planning and Investment for a VND17.2trn (USD753m) state fund allocation during the 2021-2025 period to complete three key projects in the city.