return icon

With the development of southern industrial belt, HCM City thirsts for social housing

As the economic hub of the whole country, Ho Chi Minh City located in the Southern Key Economic Zone (KEZ) contributes strongly to the future "Diamond Octagon” of Vietnam.

Therefore, attracting young and professional manpowers is one of the top priorities to sustain socio-economic development.

Recently, in a meeting with the southern provinces, PM Nguyen Xuan Phuc stated: “Ho Chi Minh City and seven provinces including Ba Ria - Vung Tau, Dong Nai, Binh Duong, Tay Ninh, Binh Phuoc, Tien Giang and Long An will become the new “Diamond Octagon”, bringing prosperity to Vietnam to reach regional level.

Ho Chi Minh City and seven provinces will become the “diamond octagon” (Photo: Architectural magazine).

The growth of Ho Chi Minh City is not only driven by big corporations but also hundreds of thousands of small and medium enterprises. This is the goal of the southern industrial belt to become the “leading engine” with dynamics and breakthroughs. With tens of thousands of factories and businesses, mainly domestical ones, the outlying districts of Binh Chanh, Binh Tan and Tan Phu have created strong and sustainable development for the region, connecting the city with the Mekong Delta provinces.

The industries will be interconnected and naturally interwoven on the law of supply and demand to create the harmonious complement. This connection will all come through the key ports located in the southern part of the city as the convergent point for technology transfer, production patterns, supply of resources, logistics and transportation. 

Especially, Binh Chanh area, with the development of inter-regional transport infrastructure, logistics center around Tan Kien station, connects the city to the southwestern region via the high-speed train and Metro 3A that are taking shape, alongside important economic key ports. In the near future, there will be thousands of Vietnamese enterprises, factories, and research centers growing with great potential in this place.

The development in the southern industrial belt in general, and Binh Chanh area in particular, will attract large investment capital and high quality human resources to serve operation and development. Trained workers, engineers, technical experts, leaders and supervisors from home and abroad will gather here, helping create a new face for a vibrant economic region, and one of the most innovative areas of the country.

Along with the booming industrial development is the importance of investment in social infrastructure, such as housing for workers, engineers, experts; together with school systems, relaxation, entertainment, shopping, health care, and services facilities for daily life. The synchronous development of social infrastructure in a new economic belt will create big attraction for a strong workforce to enable production, trade and services.

Social housing - a push for the southern industrial belt

Singapore, a country with a narrow and small land bank, has successfully built concentrated housing areas with high density and full of public facilities to meet the needs of the people for living, learning, shopping, and entertaining. The buildings have the advantage of being located along public transport routes which are convenient for traveling.

In Ho Chi Minh City, the demand for affordable housing is very large, but in the 2016-2019 period, only about 14 social housing projects with 10,255 units were put into use, while the real demand was 10 times bigger: about 134,000 units. 

It’s understandable to say that affordable social housing is becoming much more “thirsted for” in Ho Chi Minh City, being an important role in promoting regional connectivity, creating a driving force for development of the southern industrial production belts, especially for large production centers such as Binh Tan and Binh Chanh areas.

However, until now, the land bank available in Ho Chi Minh City for social housing is very limited, and there is also difficulty in finding the investors willing to spend a large amount of capital for social infrastructure and synchronous transport infrastructure to build a model social housing area, to meet the need of booming development of Saigon South’s economy. SGT


Social housing development needs the people's strong support

Social housing development needs the people's strong support

Nguyen Van Sinh, Deputy Minister of Construction, talks to the newspaper Thời báo Kinh Tế Việt Nam (Viet Nam Economic Times) on Vietnam’s goal to invest in the construction of 12.5 million square metres of housing floor space from 2016-2020.

HCM City to develop hi-rises along metro line

HCM City to develop hi-rises along metro line

HCM City plans to stop construction of high-rise apartment buildings in downtown areas and focus instead on building such residential complexes along the first metro route in the eastern part of the city comprising districts 2, 9 and Thu Duc.


Ministry to keep coal-fired thermal power projects

To avoid legal risks, thermal power projects in the 8th national power development plan need to be retained, especially BOT (build, operate, transfer) projects, which involve foreign investors, the Ministry of Industry and Trade (MOIT) said.

EVFTA advantages threatened by tough competition

Although Vietnam is hoping for stunning growth in seafood exports, particularly in the likes of basa fish and shrimp, the nation’s share in the EU market and utilisation of its trade deal with the bloc remain under some pressures.

Vietnam wastes 160 tons of agricultural by-products a year

If 1 million by-products in the seafood industry were processed into valuable products, they would bring in US$4-5 billion. Vietnam produces 160 million tons of by-products a year.

Vietnam records high digital banking growth

Vietnam is one of the countries with the highest growth rates in digital banking though it is still a developing economy, according to international organizations.

Shopee empire is being shaken up

Aspiring to become a super app, Shopee is facing challenges, including in the Vietnamese market.

Corporate bond market reform adds safety net for investors

The fresh and stringent legislative framework for the corporate bond market is slated to pave the way for a better debt sector in Vietnam, while the interests of issuers and investors could be safeguarded.

Call of the past

The past artisans might have not imagined that the vases they made would become special cultural values, which are being hunted and those prices paid equal many years of hard work.

Young Khmer-Vietnamese woman earns high profits from flower "massage"

In the first half of the year, Chal Thy could not succeed but finally was able to learn how to pat and massage flowers so that sweet nectar would be secreted.

Nam Dinh museum preserves traditional rural way of life

The Rural Museum, located in the tranquil village of Binh Di in Giao Thien Commune, Giao Thuy District, is about 110km from Hanoi.

M&A in Vietnam forecast to slow down in H2 2022

M&A activities in Vietnam is forecast to slow in the second half as investors become more conservative about several macro trends impacting the country’s economy.

Vietnam, Cuba strive to lift two-way trade to US$500 million in next five years

The Vietnam-Cuba business promotion forum took place in Hanoi on September 30, seeing the participation of visiting Cuban Prime Minister Manuel Marrero Cruz and Vietnamese Deputy Prime Minister Le Minh Khai.

Vietnam defeat Saudi Arabia, top Group D at AFC Futsal Asian Cup

Vietnam beat Saudi Arabia 3-1 at the AFC Futsal Asian Cup 2022 in Kuwait on September 30, thereby topping Group D and having a high chance of securing a berth in the quarter-finals.

EuroCham Chairman praises strong and forward-looking government

Vietnam’s recovery has been ensured by strong and forward-looking government support which helped to bring in more high-profile FDI projects

Many firms suspend raising capital from stock market

Many enterprises have either stopped mobilizing capital or changed their capital-raising plans on the stock market amid existing uncertainties and disadvantages.

HCM City runs out of Covid-19 vaccines

HCM City has run out of Covid-19 vaccines over the past 10 days, said Nguyen Hong Tam, the deputy director of the municipal Centre for Disease Control and Prevention.