Ho Chi Minh City, April 20 -- The Ho Chi Minh City People's Council approved a resolution on the investment policy for a central city square and administrative centre project, with a total estimated cost of about 29.59 trillion VND (1.13 billion USD), during its second session on April 18.

The project will be built in the core of the Thu Thiem new urban area in An Khanh ward between 2026 and 2028 under a public-private partnership (PPP) model, using a build-transfer (BT) contract. Funding will blend land assets and municipal budget, with roughly 22.136 trillion VND from land resources and about 7.455 trillion VND drawn directly from the city's budget.

The new central city square and administrative centre will create a modern, centralise...