Ho Chi Minh city has plans to restructure three of its eastern districts into a “Southern Economic Hub” as part of its 2020 Smart City development. The areas include Saigon High-Tech Park in District 9, university precinct Thủ Đức, and Thủ Thiêm, the new CBD and financial center of the city. Deputy Chairman, Mr. Trần Vĩnh Tuyến at a media speech on April 12^th, said, “once completed, the three districts will be the launch pad for HCMC’s 4.0 Industrial Revolution.”

Secretary of HCMC, Mr. Nguyễn Thiện Nhân points out, “if the three districts fail to connect and integrate as one, the project would fail to turn startups into reality. Authorities should further act as role models to increase the transparency of the project’s progress through e-governance. Additionally, smart and eco-friendly infrastructure building is crucial to developing the plan.”

“The innovative urban areas will become Vietnam’s Silicon Valley,” Lê Văn Thành from the HCMC Institute for Developmental Studies continues, “it will act as a foundation for Vietnam’s high technology sector and a research hub for universities.”

Professor Phan Văn Trường who specializes in urban development, economy and international negotiations agrees that the three districts together hold a strong developmental potential for the city. However, the first step is to reinforce the city’s transportation systems with infrastructure initiatives to resolve congestion on the roads.

The initiative should primarily focus on the well-being of the residents by providing shuttle services throughout the city, restrict private vehicle usage and refine pedestrian walkways. Under the Smart City plan, corporates and residents may use e-services to minimize waiting time for public services. Such plans will provide an improvised administrative and management structure and prevent state officials from causing problems for residents and businesses.

IFC, International Finance Corporation, part of World Bank Org., has signed a memorandum at the end of 2017 to aid HCMC’s Smart City developmental plan. Mr. Lê Thanh Liêm, Deputy Vice Director, wishes IFC to be a major contributor to provide a research and discussion platform for government committees.

IFC’s Asia Pacific Vice Director, Snezana Stoilijkovic, is delighted to see S & P as the financial management and consultant for HCMC’s Smart City Plan. The mega corporation will help HCMC develop with a sizable amount of funding. IFC believes that the development of a financial core and a high technology hub will be beneficial to HCMC’s Smart City plan as a trajectory to increase investments, education and a skilled work force.

Source: Asean Plus