The Ho Chi Minh City tidal Flood Control Project Working Group has just sent a document to the Ho Chi Minh City People's Committee, proposing to add two land areas to the list of land funds for BT Contracts for tidal prevention projects with a total investment of nearly VND10,000 billion.
Accordingly, two proposed additional land plots include land plot No. 420 No Trang Long (now Vu Ngoc Phan Street), Binh Loi Trung Ward and land plot No. 257 Tran Hung Dao, Cau Ong Lanh Ward.
The land at 257 Tran Hung Dao has an area of 2,374 m2, with an estimated value of more than 597 billion VND. The land is located in a prime location, adjacent to the frontage of Tran Hung Dao and Nguyen Khac Nhu streets, and is currently being exploited for coffee business and sports rooms.
The land plot of 420 No Trang Long has an area of over 66,800 m2, of which nearly 35,000 m2 is residential land, the rest is commercial service land, with a total estimated value of over 5,385 billion VND.
Currently, the land is managed and used by Vietnam Dairy Technology Joint Stock Company (VISSAN) as a production facility and office. Inside the campus, there are 19 households with 78 people who are former employees of VISSAN, who have been arranged housing in advance but have not been granted a construction permit.
In case the Ho Chi Minh City People's Committee approves to include this land in the payment fund, the Land Fund Development Center recommends that the investor commit to paying the entire compensation, relocation cost and arising loans corresponding to the payment value.
Previously, 3 other land plots were signed in BT contracts to pay investors in tidal prevention projects, including:
Lot C8A - Area A, New Urban Area of South Ho Chi Minh City (Tan My Ward), area of 5,500 m2, worth more than 1,113 billion VND.
Lot No. 232 Do Xuan Hop (Phuoc Long ward), area of over 14,000 m2, worth over VND 930 billion.
Lot No. 762 Binh Quoi (Binh Quoi ward), area of over 3,100 m2, worth over 72.3 billion VND.
Thus, if approved, the total value of the 5 plots of land paid to investors will reach more than VND 8,099 billion, equivalent to 81.1% of the BT contract value of the tidal prevention project (about VND 10,000 billion, excluding adjustment of the total investment of the project).
The working group said that the addition of two new land plots is to replace land funds that are not eligible for payment according to the direction of the Ho Chi Minh City People's Committee in Notice No. 439/TB-VP dated August 25, 2025. This proposal is implemented in accordance with Resolution 40/NQ-CP dated April 1, 2021, Resolution 212/NQ-CP dated July 21, 2025 of the Government, along with the opinions of relevant ministries and branches and the direction of Permanent Deputy Prime Minister Nguyen Hoa Binh.
The working group recommended that the Ho Chi Minh City People's Committee assign the investor to negotiate to complete the BT contract appendix (whistle), before submitting it to the Standing Committee of the Ho Chi Minh City People's Committee Party Committee for consideration, approval and signing the official BT contract appendix as planned.
The nearly VND10,000 billion flood prevention project started in 2016 under the BT (build - transfer) form, aiming to control flooding caused by high tides over an area of 570 km2, protecting 6.5 million people in the right bank of the Saigon River and the center of Ho Chi Minh City.
Although more than 90% of the volume has been completed, the project has had to temporarily suspend construction since November 2020 due to problems with capital and legal procedures, causing large costs, with interest alone of more than 1.7 billion VND per day.
On July 21, 2025, the Government issued Resolution 212/NQ-CP to remove bottlenecks, allowing Ho Chi Minh City to adjust the feasibility study report and pay investors with land funds, aiming to complete the project in 2026.
