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NEW UPDATES Asean Affairs    12 January 2015  

Investors withdraw from parking lots

HCM CITY (VNS)  — Nguyen Huu Tin, deputy chairman of the HCM City People's Committee, has instructed the Department of Transport and other relevant agencies to work together to draft preferential policies for attracting investment in underground parking lots in the downtown area.

His reaction came soon after two investors wanted to pull out of the projects citing low returns on huge investments.

The Viet Nam Urban and Industrial Zone Development Investment Corporation asked to withdraw from a proposed project to build a lot under Tao Dan Park in District 1 at an estimated cost of VND1.4 trillion (US$67 million).

The Indochina Group, the other would-be investor seeking to pull out, is to build under the Hoa Lu stadium at a cost of VND1.6 trillion.

Tin also called on related authorities to review parking space in downtown public places and high-rise buildings to calculate how much space is available – to tweak the designs of the proposed underground lots and determine their parking rates.

Meanwhile, work on the lot under District 1's Le Van Tam Park will finally start at the end of April following a four-year delay while procedures are being wrapped up for the one under Trong Dong Theatre.

Based on a 2008 master plan, the city is set to build eight underground lots in District 1

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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