Attracting businesses during the implementation of the TOD model: challenges and solutions

DNHN - The Department of Transport (Transport) of Ho Chi Minh City announced a plan to implement a transit-oriented development (TOD) model along metro line 1 at a meeting held on the morning of August 11 with the participation of relevant departments

Associated with the public transport system in Ho Chi Minh City, this is a significant project that signifies a shift in the development of modern urban areas.

Consequently, the Department of Transportation has planned to implement the TOD model in the sequence of the following seven steps:

Step 1: Identify the centralized traffic hub to form the TOD. model

Identifying the traffic hubs that are likely to form the TOD model is the first and most crucial step. This requires close coordination between the Department of Transportation and planning management agencies to ensure that urban development planning and transportation infrastructure go hand in hand.

Step 2: Determine the scope of the vicinity and review the planning

In this step, the proximity of the traffic hubs identified in the previous step is determined. Existing plans must be reviewed and modified to align with TOD development objectives.

Step 3: Organize planning adjustment

Planning adjustments are required to ensure the integration of urban and transportation infrastructure. To accomplish this objective, the planning authorities must work in concert.

Step 4: Proposing an independent public investment project

This step requires the proposal of an independent public investment project for compensation, assistance, and resettlement, as well as land acquisition, urban renewal, and development. These projects include both transport infrastructure and technical infrastructure for connection.

Step 5: Evaluate the report of the pre-feasibility study and propose an investment policy.

This step requires the evaluation of the feasibility study report and the management agency's investment policy proposal. This guarantees that projects are clearly defined and highly viable.

Step 6: Deploy the project and auction to select investors

Following the approval of the investment policy, the projects will be implemented. Finally, a selection auction for investors will be held to promote urban development.

Step 7: Phase 2 - Deploy the TOD model at other traffic hubs

In the second phase of the plan, the TOD model will be implemented at other traffic hubs connected to the city's urban rail system. This is a crucial stage that necessitates strong coordination from relevant agencies and advice from seasoned international experts.

The TOD model in Ho Chi Minh City promises to create opportunities for sustainable and modern urban development, while also enhancing the quality of life and reducing traffic congestion. However, implementation is difficult because it must overcome numerous obstacles in terms of planning, infrastructure, and time. To ensure the future success of this model, close cooperation from regulatory agencies and the participation of experts in the implementation process is essential.

Attracting businesses to participate in the implementation of the urban development model associated with public transport (TOD) is a crucial task for ensuring the project's success and fostering economic growth in the region. a developing region. Nevertheless, according to a representative of the Department of Planning and Architecture, the implementation of the TOD model is difficult and fraught with many difficulties, particularly with the adjustment of planning and the land auctioning process, particularly in urban areas. metro line 1 and Ring 3. Consideration must be given to the following solutions to attract businesses to this process:

Flexibility in planning: Planning adjustments are inevitable, particularly when implementing the TOD model on major traffic corridors. However, planning must be implemented with flexibility to ensure development efficiency and safeguard community interests. This adaptability contributes to the creation of favorable conditions for business participation in projects.

Examine and prioritize viable areas: Enterprise participation is also contingent on the project's capacity to generate economic and commercial benefits. Therefore, a detailed review of some feasible areas, taking into account the current land use status and whether or not there is investor interest will help prioritize the implementation of projects in areas with high potential. Significant growth potential.

To attract businesses, it is necessary to create a favorable investment environment in terms of the law, administrative procedures, and even financial assistance. Creating a strong incentive for investors to participate in TOD projects by mitigating their risks through preferential policies.

Transport diversification: According to a representative of the H.Nha Be People's Committee, an effective TOD model must not only be based on the transit function, but also be connected to a variety of modes of transportation, including rail, bus, and waterway. Ensuring the integration of these facilities contributes to utility diversification and user convenience.

A representative of the H.Nha Be People's Committee also suggested that the planning should not delve too deeply into the particulars, as too many constraints can stifle the innovation and creativity of investors. private. To create a flexible and effective investment environment, it is sufficient to define only a few "hard" criteria, such as the ratio of land for traffic, commerce, and trees.

Attracting businesses to participate in the implementation of the TOD model requires close coordination from management agencies and flexibility in planning, thereby fostering investment-friendly conditions. ensure the community's best interests.

Lam Nien