Nam Thai Urban Complex to Be Officially Launched in 2017

For more than a year, people in Pho Yen and its neighbouring districts in Thai Nguyen province have been expecting Nam Thai Urban Complex to be deployed as a 5-star urban are in their hometown. But, the longer they wait, the more silent the project is. A lot of questions have been raised to the investor and local authorities. To find out the reasons for the delay of this top-of-the-line project, we have an interview with Mr Nguyen Ba Tien, Chairman of the Board of Directors of Dong Nam A Investment Consulting and Development Company Limited - the investor of the project. Ngo San reports.

Could you please introduce the scale and vision of the project to socio-economic development of Thai Nguyen province?
Situated on the traffic artery between Thai Nguyen City and Pho Yen Town, and connected with arterial traffic routes covering northern mountainous provinces and Hanoi, the 195-ha Nam Thai Urban Complex costs up to VND4,200 billion for infrastructure construction. This will be not only a tourist township, an office complex, a trade centre, an amusement park, healthcare and education places, but also a new administrative centre of Pho Yen Town.

The project will be a “new Binh Duong City” in the north with all necessary factors for becoming a young, modern and dynamic city. According to the detailed planning map, Nam Thai Urban Complex is divided into three main sections: New administrative centre for Pho Yen Town with a system of public services and soft infrastructures such as hospital, school, and finance - banking - insurance centre; a section for trade - office - hotel centre, an international conference centre, theatres, townhouses, pedestrian shopping streets, restaurants, supermarkets and entertainment areas; and a section for high-class apartment buildings of 18-24 floors, cultured residences and resettlement areas for people giving up land for the project. In addition, we spare a considerable share of land for public works such as schools and hospitals to serve urban residents and visitors. Overall, more than 50 construction items will be built with this project. As soon as it is put into use, the project will serve 25,000 - 30,000 people.

Given such a scale, although licensed, why has it yet to be carried out?
In fact, Nam Thai Urban Complex has been deployed for more than two years. We planned to spend VND4,200 billion on infrastructure construction. This is a major national project and it is in the final stage of completing investment procedures. Right from the time it started the project, Dong Nam A Investment Consulting and Development Company Limited has received enthusiastic support from Thai Nguyen authorities.

Nevertheless, Thai Nguyen province is now reviewing all non-state funded projects to clarify local development planning, and all projects have to make new reports. This inspection may slow down the project schedule, but it will be a favourable process for investors to check financial and personnel preparations, and as well as other investment factors. We fully support the provincial government to perform this review as it helps discover ineffective projects and incapable investors who will have investment licences revoked to give opportunities for better ones to create a clear and fair picture of investment environment among businesses and investors of all economic sectors and build the trust of people in project impact areas. In the past, some investors just received the land for their projects but did nothing later.
This inspection is necessary in Thai Nguyen province but it should have been done more quickly. Qualified projects should have been re-granted investment licences immediately after the inspection visit to help investors complete necessary legal procedures and bring their projects into operation.

As for Nam Thai Urban Complex, with our good experience and strong financial competency, we are ready to carry out this project. We received strong support from local people when we piloted clearing the first 2.5 ha of land. We believe that, with the humanity of the project - a considerable share of land of the project will be spared for resettlement with environmental protection and social responsibility mechanisms of the company, the site clearance on nearly 200 ha of project land will be smooth, particularly when the entire political system of Thai Nguyen province has actively engaged in administrative procedure reform and stayed by the side of the businesses, as now.

Therefore, it can be said that the delay is caused by the authoritative review of the project for the purpose of transparency of provincial planning rather than the investor’s lack of seriousness. Dong Nam A Investment Consulting and Development Company Limited pledges to quicken the progress of the project as soon as legal procedures are completed to meet the expectations of people in Pho Yen Town in particular and Thai Nguyen province in general for a 5-star urban project right in the province.
With what Thai Nguyen province and Dong Nam A Investment Consulting and Development Company Limited are doing, we are certain that the project will be implemented in the second quarter of 2017.

What is the message that Dong Nam A Investment Consulting and Development Company Limited wants to deliver through its Nam Thai Urban Complex Project?
Against the backdrop of property market uncertainties, the determination of Dong Nam A Investment Consulting and Development Company Limited to the project evidenced its financial strength, resolution and trust in the project. In fact, with many years of experience in finance and property project consulting, deep knowledge of difficulties and advantages of a big investment project, a strong financial foundation and a broad network of experienced property partners, the project will create resounding success. Dong Nam A Investment Consulting and Development Company Limited defined that this project will build up the name of the company and draw a new socioeconomic picture of Pho Yen in particular and Thai Nguyen in general.

As soon as we decided to invest in Thai Nguyen province, we regarded it as our second homeland and each member of staff as a citizen of Thai Nguyen. For that reason, Dong Nam A Investment Consulting and Development Company Limited is also responsible for building Pho Yen and Thai Nguyen in the capacity of their citizen. Although the project has not officially been implemented, we always participate fully in social programmes in the town and the province, particularly thanksgiving and poverty reduction support with the sincerity of a man to his homeland.