Alongside the announcement, local authorities granted investment approvals for 12 projects totaling more than $1.3 billion.

At an investment promotion conference held on February 6, Ho Chi Minh City authorities introduced the approved development strategy and granted investment approvals for 12 major projects totaling more than $1.3 billion.

The event marked a significant milestone in Thu Duc City’s transformation into a smart, innovative, and economic powerhouse within Ho Chi Minh City.

A vision for a smart and innovative urban center

Approved by the Prime Minister on January 21, 2025, the Thu Duc City master plan envisions a modern, knowledge-based economy, reinforcing its role as a strategic gateway in the southeastern region.

The city is designed to integrate transportation, technology, and sustainability, positioning it as a leading financial and innovation hub in Vietnam.

Thu Duc City, officially recognized as a first-tier urban area, is set to become an essential transportation hub, connecting highways, railways, seaports, and inland waterways.

By 2030, the city is expected to accommodate 1.8 million residents, with the population projected to reach 2.6 million by 2040 and 3 million beyond 2040.

To enhance connectivity, the city is planned around nine urban zones, each with distinct economic, cultural, and technological identities.

The master plan identifies 11 priority development zones, focusing on high-tech innovation, financial services, smart urban design, and sustainable infrastructure.

The city will also emphasize public transportation and smart urban planning, featuring nine metro and intercity rail lines that will connect Thu Duc to central Ho Chi Minh City and Long Thanh International Airport.

Officials expect these transit systems to handle 50-60% of the city’s commuting needs, reducing congestion and supporting economic growth.

Expanding green spaces and public infrastructure

A key feature of Thu Duc’s master plan is its commitment to sustainability. The urban blueprint prioritizes green spaces, water conservation, and flood resilience, integrating the Saigon River, Dong Nai River, and multiple canal systems into the city’s environmental framework.

These natural features will be combined with an extensive network of public parks, contributing to improved urban livability.

Education and healthcare infrastructure will also see major expansions. The city plans to quintuple its educational space, increase healthcare facilities tenfold, and triple its cultural and sports infrastructure.

Notably, the Rach Chiec National Sports Complex will be developed into a world-class venue, supporting regional and international events.

Thu Duc City to drive Ho Chi Minh City’s economic growth

Speaking at the conference, Thu Duc City Chairman Hoang Tung emphasized that the newly approved master plan serves as a critical framework for the city’s future. By fostering a high-tech economy and financial services sector, Thu Duc aims to become a major economic driver for Ho Chi Minh City and Vietnam at large.

Ho Chi Minh City Chairman Phan Van Mai echoed this sentiment, describing Thu Duc as a new growth pole for the city. He urged both domestic and international investors to capitalize on the favorable investment climate and government support.

“The goal is to make Thu Duc City a leading innovation hub, an international financial center, and a key driver of Ho Chi Minh City’s economic transformation,” he said.

Mai also highlighted the importance of regional cooperation, encouraging Thu Duc to strengthen ties with neighboring provinces, including Dong Nai, Binh Duong, and Ba Ria - Vung Tau. He emphasized the need to complete the Thu Thiem Financial Center, expand the University City, and enhance the high-tech industrial park before 2030.

Investment wave: Over $1.3 billion approved for new projects

At the event, authorities formally approved 12 investment projects, injecting over $1.3 billion into Thu Duc City’s development. These projects span multiple sectors, including infrastructure, technology, real estate, and industrial innovation.

In addition, the city introduced 535 investment opportunities across five key sectors, with a projected capital requirement exceeding $34 billion.

These initiatives are expected to enhance Thu Duc’s attractiveness as an investment destination, particularly in high-tech manufacturing, sustainable urban development, and digital transformation.

Ho Chi Minh City officials expect these investments to catalyze rapid economic growth, positioning Thu Duc as a dynamic urban hub and an economic powerhouse within Vietnam’s largest metropolis.

Ho Van