Proposal of building Ben Thanh underground trading center - Website Ho Chi Minh City
(HCM CityWeb)- On March 9, Deputy Chairman of HCMC People’s Committee Le Van Khoa together with related departments and agencies worked with Toshin Development Company (Japan) on proposing to build Ben Thanh underground trading center.
According to Toshin Development’s plan, the project of “Ben Thanh Terminal - the Municipal Theatre Station” consists of four-storey complex, an underground pedestrian plaza and a square, support facilities, shopping areas and recreational services.
The total area of the project is 45.420 m2, including a public area (underground pedestrian area) with an area of 21.620 m2, the remaining 16.850 m2 will be used for private purposes (shopping, cuisine, recreational services) and support facilities.
According to estimate of Toshin Development, the project can cost VND 8, 392 billion, half of that (VND 4, 982 billion) sourced from ODA, the rest funded by Japanese investors (PPP+ FDI)
The project includes a public walkway and square, support facilities built by HCMC, the investors of the project will build and manage shopping areas through form of direct investment and build a part of public project by private capital under BT form.
The construction work will be carried out from 2019-2024. Once put into operation, the time for recovering State’s capital will last 13 years.
Mr. Yasuhiko Matsumoto, President cum CEO of Toshin Development said the Government of Japan and related agencies pay a special attention to this project and consider it as a part of Vietnam-Japan Friendship – Co-operation relation. The goal of Toshin Development is not only to build a trading center but an urban area, a large-scale underground city in Southeast Asia region.
According to Mr. Khoa, this is the first underground trading center in Vietnam; therefore, HCMC is paying a special attention to this project. The city is trying best to make sure that the project will bring economic efficiency and positive social impacts as well as to make sure about the safety of the project.
The project is expecting to speed up economic development of HCMC, creating jobs and bringing benefits to local people and the city itself. If the project is implemented by Toshin Development, it will become a symbol of Vietnam-Japan Friendship.