Supporting households displaced by Thu Thiem Project

Hua Ngoc Thao, head of the Board for Compensation and Site Clearance of District 2, has explained how to give additional support to households affected by the Thu Thiem New Urban Area Project.

Officials at the Board for Compensation and Site Clearance of District 2 explain the new compensation policy to local residents affected by the Thu Thiem New Urban Area Project

Under the city’s new policy support rates, those wishing to buy a lot of land in new resettlement areas will get cash support of VND16 million ($940) for each square meter of their land. And those who decide to buy an apartment for resettlement will receive VND8 million ($470) per square meter of their apartment.

For households that have moved to resettlement areas after being displaced by the project will also be given additional cash support, which will be the difference between the above rates of support and the average actual transfer price of a flat or land in resettlement areas, said Mr. Thao.

District 2 authorities will sign a contract with an independent consulting company, which will calculate the average actual transfer price on the basis of the normal market price.

After the city’s People’s Committee approves the average transfer price, District 2 authorities will use it as a basis for additional support.  

Wrong payments must be taken back

All of the compensation or cash support wrongly paid to people whose land had been acquired for the Thu Thiem New Urban Area Project, District 2, HCM City, must be recovered, People’s Committee Chairman Le Hoang Quan ordered February 11.

He asked the District 2 authorities to strengthen responsibility in dealing with compensation. Any infringements must be strictly punished by the law, he added.

The deputy Chairman of the People’s Committee, Nguyen Trung Tin, will hold a meeting with project representatives of displaced households about the city’s Inspectorate’s report on the project.

By Nhung Nguyen – Translated by Mai Thao

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