City sets up steering board for Thu Thiem
Investment and Development Co.
The HCM City People�s Committee has set up a
steering board for the one-member Thu Thiem Investment and Development Company
under the Thu Thiem New Urban Area Authority.
The steering board will assist the city
government in carrying out the plan of equitizing member businesses in line with
The board will prepare and submit to the city
government the plan of equitizing member companies, of evaluating companies�
prices and of appointing representatives of State capital at equitized
According to the approved plan, the wetland in
District 2 will be developed into a new modern center in HCM City and Vietnam.
To realize this, HCM City needs VND18.23 trillion
to clear the ground and relocate 10,406 affected families. So far, the city has
spent VND3.36 trillion and applied for the issue of
the Government bonds to raise the remaining VND15 trillion.
Pending the Government�s approval, the city proposed the Ministry
of Finance to advance VND10 trillion for this purpose.
(HCM City, November 19, 2007)