Tower expected to boost investment economic development in city's west.
The Office of the Government has released the Prime Minister’s (PM’s) conclusion on research and investment cooperation projects for the Vietnam Television Tower. The project is expected to be built on 14 hectares in the center of western urban area of West Lake. The project was first mentioned when Hanoi began planning for four new urban areas in 2002 and was approved by the PM in 2014.
Vietnam Television has been approved by the PM to coordinate with the State Capital Investment Corporation (SCIC) to establish a joint-stock company to invest in the project. Vietnam Television will then choose private enterprises with the appropriate financial capacity to contribute capital to the joint stock company to explore business services when the project goes into operation.
The contributed capital of Vietnam Television is mobilized from its enterprises while SCIC’s capital is contributed from its own business. When the project is effective, Vietnam Television and SCIC will be allowed to sell shares to recover capital.
This is an important project for Vietnam’s television sector. This tower is expected to have a significant impact on investment and economic development in the surrounding area and become a key part of Hanoi’s architecture.