Phu My Hung Development Corporation (PMH Corp) – The Infrastructure developer of the New City Center. The company was established on May 19th, 1993 as a joint-venture between Tan Thuan Industrial Promotion Company and the Central Trading & Development Group, headquartered in Taiwan.
Tan Thuan Industrial Promotion Corporation (IPC) was founded in 1989, aiming to develop export processing zones to enhance the socio-economic growth in HCM City. Tan Thuan Export Processing Zone was established for this reason, followed by Phu My Hung urban development project.
This is also the first infrastructure project of attracting foreign investment in Vietnam. After 25-year development, IPC has become one of typical businesses of the city in investing infrastructure for the economic growth and urban development, executing the “Eastbound Sea movement” strategy and playing important role in promoting the development of South area of HCM City.
IPC comes up with innovative and pioneering projects that create initiatives for the new policies and models in boosting the economic and urban growth as well as transferring the marsh land in South area of HCM city into the industrial zones and modern city center with well-established infrastructure.
IPC’s Scope of works
• Develop and execute infrastructure projects for export processing zones, industrial parks, new residential areas in HCM city and other regions
• Provide necessary services for industrial parks and export processing zones
• Provide maritime trade and transportation services (ship broking, ship agency, debarking, shipping services)
• Make financial investment to other businesses
The key resources of IPC are creativity and great economic vision, human resource management in line with scientific researches that turn concepts into feasible projects. Therefore, IPC is now an efficient supporter of the State in creating attractive environment for domestic and foreign companies’ investments. IPC always places the benefits of the society and economic on the top when executing projects of developing HCM city in general and the South area in particular.
Central Trading & Development Group (CT&D) was established in September of 1989. During this period, Vietnam opened the door for calling foreign investment. CT&D management team, with its foresight, flexible strategy making, and professional and astute business acumen, studied investment opportunities and finally established Tan Thuan Corporation (Tan Thuan Export Processing Zone), Phu My Hung Development Corporation (Phu My Hung City Center) and Hiep Phuoc Power Company (Hiep Phuoc powerplant).
The Central Trading & Development Group (CT&D Group) is a Taipei-based company formed by a group of international entrepreneurs who have played a significant role in the extraordinary economic transformation of Taiwan, and who have demonstrated the ability to successfully anticipate and capitalize on the rapid changes in the Asian business world. The management team of CT & D Group possesses the necessary ingredients for success–a long-term vision, resourcefulness, perseverance, and professional management.
The 5 urban development sites by Phu My Hung Corp:
1. Phu My Hung New City Center (Site A – 409ha)
2. University Place (Site B – 95ha)
3. Hi-Tech Center (Site C – 46ha)
4. Merchandise Center I (Site D – 85ha)
5. Merchandise Center II (Site E – 115ha)
The New City Center (Saigon South) Master Plan presents a historic opportunity for Vietnam and HoChiMinh City to re-establish its position in the global economy while creating a modern well-planned city that can become the most desirable international business location in Southeast Asia.
– On the land area of 2,600 ha situating in parallel with HoChiMinh City to the South, Phu My Hung Corp. has been permitted to develop 750ha of land to build a model city. Designed by Skidmore, Owings & Merrill (USA), the New City Center was approved by Vietnam’s Prime Minister on December 8th, 1994. In addition, the government also signed the Decision on March 3rd, 1995, to establish the Management Authority for Southern Area Development of HoChiMinh City (MASD) with a “one-stop application procedure” in the New City Center.
The New City Center (Saigon South) is the first step in the envisioned expansion of HoChiMinh City’s growing metropolis. The development of the New City Center is a key component of Vietnam’s comprehensive plans for the Southern Focal Economic Area (SFEA) that includes HoChiMinh City, Dong Nai, Ba Ria Vung Tau province. The SFEA and Phu My Hung New Urban Development are poised to become a center for international finance, trade, accommodation, entertainment, cultural, scientific, high technological and tourism development in Vietnam. This urban plan will accommodate future demands and a projected increase in population to 10 million people over the next decade.
– Nguyen Van Linh Parkway is the central infrastructure project of the New City Center. The road will become an important east-west connection from National Highway 1 to District 2 and eastern provinces. This 17.8km long parkway is a 10-lane road with six fast-speed lanes and four mixed-used lanes allowing for slow auto, motorbike, and bicycle traffic (except for the 14 lanes of the section through Site A). There is also a land reserve of 18~36 meters in the center for future transit or road expansion.