#Vietnam is trying to energise its urban development and attract foreign investments by revitalising its cities, creating new townships and developing new investment vehicles #SoutheastAsia #Asean #UrbanPlanning #ESG #Sustainability

Many Southeast Asian countries are racing to attract foreign investments and I must admit that some of these countries have performed exceptionally well in that they have been pretty quick in organising themselves and rapidly creating the proper channels to seize available opportunities.

Things are moving at never-before-seen speed. It can be observed in how they are exchanging information with potential investors, clearing regulatory hurdles, rallying the private sector and establishing the platforms to facilitate investments.

Most people are currently working from home now, staying at home more often than usual and some might imagine that the world is slowing down.

No. It is not slowing down at all.

On the contrary, I think that the pace is picking up at lightning speed because of the ability to telecommute and have large scale online meetings anytime of the day. Because of this format, bureaucracy is being discarded like nobody’s business.

The result is the creation of small teams comprising highly-skilled workers that could contribute at ultra-fast pace without the burden of information flow blockages.

Vietnam is also keeping pace and not toooo far behind, I think.

The country is deliberating over how best to plan their cities, organise its people and leverage the Vietnamese’s expertise and their natural environment. They want to clobber everything together and fashion the mix into new theme-driven townships. Just so that they could keep pace and stay relevant to their larger eco-system.

They are still studying this concept.

Several challenges lie ahead because they would need to coordinate a large-scale collaboration among the different government departments. Tasks would comprise developing plans, sending the right message to potential investors and setting up the right platforms to facilitate investments.

The usual method is for coastal cities to develop their ports and use it to attract investment. I think its outdated.

Too outdated.

I think that people who still stick to that idea, simply isn’t aware of the changing technology and business landscape or they are sticking to herd mentality and don’t want to voice out. I can’t pinpoint which one is the worse. Up to you to decide.

Anyway back to Vietnam. Apart from creating new townships, they also want to revitalise their cities by redeveloping the brown field (existing developments) sites. Their government thinks that the existing slim buildings that are tightly wedged together, doesn’t really send the right message to potential investors.

Photo by Rachel Claire on Pexels.com

They think that the urban developments give off a “shady” vibe. They want to change the way that they are building the specifications into their project tenders for brown field sites so that they could encourage fresh and attractive ideas.

On the other hand, my Vietnamese friends take a lot of pride in these type of houses and I could see it in their faces when they explain the history of these accommodations during my visits.

Its the same conversation throughout many parts of the world whereby the residents want to preserve their heritage through their buildings but the local government, on the other hand, wants to redevelop their towns to attract investments.

This has led to the issue of gentrification. Gentrification often increases the economic value of a neighborhood, but the resulting demographic change is frequently a cause of controversy.

In Vietnam, land is collectively owned by people and administered by the government on their behalf. Therefore, under such a system, property owners cannot have full and legal ownership of land.

Their rights are limited to land use rights permitted within the law. Land users typically receive a land use right certificate (LURC), which shows the land user’s rights on the property.

The good thing is that the government establishes the land price based on market value so the land price cannot deviate so far until the redevelopment becomes too expensive to carry out.

When the government recovers land for redevelopment, they usually offer the affected residents with 3 resettlement options namely on-site resettlement, resettlement in a different location or simply offering them cash reimbursements.

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