HCM CITY — The authorities of HCM City plan to build major infrastructure to reduce traffic jams and flooding in and around the Thủ Thiêm New Urban Area in District 2, according to Nguyễn Thành Phong, chairman of the city’s People’s Committee.

Nguyễn Phước Hưng, chairman of  District 2’s People’s Committee, said that city authorities were allocating funds to build a North-South Canal on an area of 300 ha with total investment of more than VNĐ1.7 trillion (US$74 million), and to upgrade the Cá Trê Canal worth VNĐ163 billion (US$7 million).

They also want to build a new Giồng Ông Tố 1 Bridge and upgrade Nguyễn Thị Định Street.

To serve residents affected by construction in District 2, the HCM City People’s Committee has agreed to set aside 232 apartments in the R7, Thịnh Vượng, and Fideco Riverview apartment buildings as well as 81 land plots in the resettlement household zone of Rạch Chiếc and Cát Lái.

Thủ Thiêm New Urban Area in District 2 is expected to be a modern residential and commercial, financial and service centre of HCM City.

The ambitious project has involved relocating thousands of households, and a number of them have expressed discontent with the Government’s compensation or resettlement schemes, causing prolonged disputes and delaying the progress of the project.

Covering a total area of 657 hectares, the Thủ Thiêm new urban area is located on a peninsula in HCM City’s District 2, which faces downtown District 1 across the Saigon River.

The proposed financial district and mixed-use urban area of HCM City are set to become the largest inner-city development in Southeast Asia.

The city spent more than 10 years to complete site clearance of most of the Thủ Thiêm peninsula, with as many as 15,000 households already resettled. — VNS