Ho Chi Minh City is calling for VND2.3 trillion (US$94.5 million) worth of investments in five public-private partnership projects in culture and sports, with the aim of having modern facilities capable of hosting regional events.

On Tuesday, Tran The Thuan, director of the municipal Department of Culture and Sports, introduced the five top-priority projects while addressing an investment promotion conference hosted by the municipal administration.

The event gathered Minister of Culture, Sports, and Tourism Nguyen Van Hung, and Chairman of the municipal People’s Committee Phan Van Mai.

Thuan said that the southern metropolis is planning to build a performing arts center in District 5 at a cost of VND164 billion ($6.5 million); a Gia Dinh theater in Binh Thanh District with an investment of VND250 billion ($10 million); a Ho Chi Minh City cultural center in District 1 valued at VND295 billion ($11.8 million); an arts and cultural center in the Thu Thiem new urban area whose investment has not been finalized; and a VND1.64-trillion ($66 million) multipurpose cultural and sports center in the outlying district of Can Gio.

Aside from the five key projects, the southern city briefed the participants on 16 more projects at the Rach Chiec National Sports Complex in Thu Duc City, an administrative district under Ho Chi Minh City, for investors to consider and propose planning.

These 16 projects include a football academy and a cluster of six outdoor football training fields with a combined investment of VND1 trillion ($40 million); a stadium with a running track worth VND7 trillion ($280.3 million); and a velodrome integrated with a motorcycle race track and an outdoor football field with a price tag of VND4 trillion ($160.4 million); among others.

The city also unveiled its plan to develop an outdoor sports complex in District 11 and upgrade the Ben Thanh Theater in District 1.

Speaking at the conference, Mai said that the city has been granted many special policies by the central government, including those to attract investment in culture and sports.

He called for opinions from cultural experts and investors on how to enhance the city’s policies and mechanisms to pave the way for future investment and development.

Ho Chi Minh City is recognized as a key economic, cultural, and social center in Vietnam and the Southeast Asian region, but its potential for developing the cultural industry remains untapped, Mai said.

The city has been unable to host major events such as the SEA Games or other regional and international competitions.

The official urged investors to collaborate with the city in developing infrastructure capable of hosting such events by 2030.

To promote the growth of its cultural industry, the city has not only provided investment incentives but also pledged long-term support to investors.

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