Prime Minister Nguyen Tan Dung has given a nod to a proposal on issuing special mechanisms for urban development along Nhat Tan – Noi Bai route, a newly-constructed landmark transportation route in Hanoi.
The 11.7 kilometre stretch sprawls over 2,000 hectares and requires 33 trillion VND for site clearance, expected to be concluded by 2025.
A highlight of the project will be the Phuong Trach financial skyscraper with up to 108 floors.
During a meeting with the municipal authorities on March 5, the PM asked for the establishment of an urban development management board to oversee the efforts.
The State would reclaim land and offer compensation for displaced residents living in the area, he said, adding that ministries and agencies must work with Hanoi authorities to classify urban projects according to official development assistance and local budget limitations.
Cabinet members asked the capital city to step up progress of the master plan for the route and attract additional public-private partnership investment along the way.
In his address, Chairman of the municipal People’s Committee Nguyen The Thao reported that Hanoi ’s economy expanded by 8.8 percent in 2014, 1.52 times the nation’s average. This year, the city targets a 9-9.5 percent growth.
The authorities suggested the Government approve the allocation of 45 percent of Hanoi ’s gross domestic product, up from the current 42 percent, for socio-economic development
They also proposed establishing a Department of Tourism, which was approved.-VNA
The 11.7 kilometre stretch sprawls over 2,000 hectares and requires 33 trillion VND for site clearance, expected to be concluded by 2025.
A highlight of the project will be the Phuong Trach financial skyscraper with up to 108 floors.
During a meeting with the municipal authorities on March 5, the PM asked for the establishment of an urban development management board to oversee the efforts.
The State would reclaim land and offer compensation for displaced residents living in the area, he said, adding that ministries and agencies must work with Hanoi authorities to classify urban projects according to official development assistance and local budget limitations.
Cabinet members asked the capital city to step up progress of the master plan for the route and attract additional public-private partnership investment along the way.
In his address, Chairman of the municipal People’s Committee Nguyen The Thao reported that Hanoi ’s economy expanded by 8.8 percent in 2014, 1.52 times the nation’s average. This year, the city targets a 9-9.5 percent growth.
The authorities suggested the Government approve the allocation of 45 percent of Hanoi ’s gross domestic product, up from the current 42 percent, for socio-economic development
They also proposed establishing a Department of Tourism, which was approved.-VNA
