Vietnamese giants kick off 4 mega projects in HCMC

The Ho Chi Minh City People’s Committee on Wednesday held a groundbreaking ceremony for four large-scale projects invested by Vietnamese conglomerates including Vingroup, Sun Group and Truong Hai Group (Thaco).

The projects span across various sectors ranging from transport infrastructure and public space to education and heritage preservation.

They include the City Central Square and Administrative Center in the Thu Thiem New Urban Area; Metro Line 2 section connecting Ben Thanh and Thu Thiem; an 880-hectare international university urban area in the northwest; and the renovation of the Ho Chi Minh Museum-Ho Chi Minh City branch at Nha Rong wharf.

All projects are designed with inter-regional and cross-sector connectivity in mind, contributing to forming a modern urban ecosystem spanning mass public transit and administrative, cultural and educational spaces.

Among the projects, Metro Line 2’s Ben Thanh-Thu Thiem section is seen as a critical link in the city’s public transport network. Developed by Thaco under a public-private partnership (PPP) model with build-transfer (BT) contracts, the project has a total investment of about VND36.7 trillion ($1.39 billion).

The six-kilometer line will run underground with six stations, connecting Tan Son Nhat International Airport, downtown HCMC, Thu Thiem, and Long Thanh International Airport in neighboring Dong Nai province.

It is slated for completion in the fourth quarter of 2030, helping ease traffic congestion and strengthen connectivity between the eastern area and the city center.

In the Thu Thiem New Urban Area, the City Central Square and Administrative Center project, developed by Sun Group, spans nearly 47 hectares with an investment of about VND29.6 trillion ($1.12 billion).

It includes a central square, a 30-story administrative tower, a 2,000-seat multi-purpose theater, and a 12-hectare central park. It is envisioned as a venue for major political and cultural events, as well as a new architectural and landscape landmark for the city.

In the northwest, the International University Township project developed by Vingroup covers approximately 880 hectares, with total investment of around VND59 trillion ($2.24 billion).

The project is planned as a green, ecological, knowledge-based urban model, with over 183 hectares allocated to education and research. It is expected to become a major hub for training, research and innovation, helping build a knowledge ecosystem for the city.

Meanwhile, the renovation of the Ho Chi Minh Museum-HCMC branch at Nha Rong wharf spans more than 1.4 hectares, with total investment of about VND68.7 billion ($2.6 million).

The project focuses on upgrading landscapes and technical infrastructure while enhancing connectivity along the Saigon River. It is scheduled for completion in August 2026, contributing to the preservation and promotion of the site’s significant historical and cultural values.

Notably, alongside the groundbreaking of the projects, the city awarded an investor approval for the Can Gio International Transshipment Port project to a consortium of Saigon Port JSC and Terminal Investment Limited Holding S.A., a subsidiary of MSC, one of the world’s largest container shipping lines.

With an investment of approximately VND128 trillion (nearly $4.86 billion), the port is among the largest maritime infrastructure projects in Vietnam today. Phase 1 will include a 7-kilometer port system covering about 571 hectares.

By 2030, the project is expected to complete four main berths and nine barge berths, reaching a capacity of 4.8 million TEUs per year and accommodating container vessels of over 250,000 tons.

New growth coordinates

HCMC leaders emphasized that the simultaneous groundbreaking of these large-scale projects not only commemorates the 51st anniversary of the Liberation of the South and National Reunification (April 30) but also clearly reflects the city’s development orientation in the coming years.

Spanning multiple sectors, from transport infrastructure and public administration to education and heritage conservation, they will help shape a multi-center urban structure, improve quality of life, and enhance the city’s competitiveness.

The involvement of major domestic and international corporations also highlights a growing trend toward mobilizing private sector resources for large-scale infrastructure development.

These projects are expected to provide fresh momentum, enabling HCMC to realize its ambition of becoming a modern, dynamic, innovative, and sustainable metropolis in the years ahead.

At the ceremony, investor representatives affirmed their commitment to delivering projects on schedule while ensuring quality and sustainability.

Le Khac Hiep, vice chairman of Vingroup, said the International University Township is envisioned as a new symbol in the city’s northwest, combining large-scale ecological space with a global knowledge ecosystem. The project aims to promote science-technology, innovation and digital transformation, creating long-term growth momentum for the city.

Tran Minh Son, representing Sun Group, described participation in the renovation of the Ho Chi Minh Museum-HCMC branch as both an honor and a responsibility. The firm pledged to deliver a high-quality project with distinctive architecture within a tight timeline to meet major national milestones.

Dang Minh Truong, chairman of the founding council of Sun Group, noted that projects in Thu Thiem go beyond investment value, serving as symbolic works that will help define the city’s urban identity and long-term development trajectory.

Meanwhile, Tran Ba Duong, chairman of Thaco, highlighted the technical challenges of the Ben Thanh-Thu Thiem metro line, which runs entirely underground and passes beneath the Saigon River under complex geological conditions.

To address these challenges, the group is studying the adoption of advanced technologies and plans to localize the production of key components and rolling stock, aiming to enhance technological self-reliance and optimize costs, he said.

The expanded HCMC was formed via the merger of the former HCMC and Ba Ria-Vung Tau and Binh Duong provinces on July 1, 2025.