Prime Minister Nguyen Tan Dung has given a nod to a proposal on issuingspecial mechanisms for urban development along Nhat Tan – Noi Bairoute, a newly-constructed landmark transportation route in Hanoi.
The 11.7 kilometre stretch sprawls over 2,000hectares and requires 33 trillion VND for site clearance, expected to beconcluded 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 PMasked for the establishment of an urban development management board tooversee the efforts.
The State would reclaim landand offer compensation for displaced residents living in the area, hesaid, adding that ministries and agencies must work with Hanoiauthorities to classify urban projects according to official developmentassistance and local budget limitations.
Cabinetmembers asked the capital city to step up progress of the master planfor the route and attract additional public-private partnershipinvestment along the way.
In his address, Chairmanof the municipal People’s Committee Nguyen The Thao reported thatHanoi ’s economy expanded by 8.8 percent in 2014, 1.52 times thenation’s average. This year, the city targets a 9-9.5 percent growth.
The authorities suggested the Government approve theallocation of 45 percent of Hanoi ’s gross domestic product, up fromthe 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 2,000hectares and requires 33 trillion VND for site clearance, expected to beconcluded 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 PMasked for the establishment of an urban development management board tooversee the efforts.
The State would reclaim landand offer compensation for displaced residents living in the area, hesaid, adding that ministries and agencies must work with Hanoiauthorities to classify urban projects according to official developmentassistance and local budget limitations.
Cabinetmembers asked the capital city to step up progress of the master planfor the route and attract additional public-private partnershipinvestment along the way.
In his address, Chairmanof the municipal People’s Committee Nguyen The Thao reported thatHanoi ’s economy expanded by 8.8 percent in 2014, 1.52 times thenation’s average. This year, the city targets a 9-9.5 percent growth.
The authorities suggested the Government approve theallocation of 45 percent of Hanoi ’s gross domestic product, up fromthe current 42 percent, for socio-economic development
They also proposed establishing a Department of Tourism, which was approved.-VNA
