Prime Minister Nguyen Tan Dung agreed the proposal of the Vietnam Television (VTV) on destination of investment project for Vietnam TV Tower in West Lake urban area (Hanoi). The PM agreed Vietnam Television and State Capital Investment Corporation (SCIC) established a joint stock company for investment projects of Vietnam TV Tower. Accordingly, the head of government assigned Hanoi People's Committee to preside over, coordinate with Ministry of Construction. Vietnam Television specifies boundaries and adjusts the local planning with ratio of 1/500 on function and structure of land use in selected locations, in accordance with the content and specific investment project for Vietnam TV Tower, according to Vietnam law.
The government office announced the conclusion of the Prime Minister about the policy on research and investment cooperation in Vietnam Television Tower project. The work is planned to construct on the ground of over 14ha in West Lake urban area (Hanoi). Previously, the project was mentioned when Hanoi conducted plan of four new urban areas which were approved by Prime Minister in 2002 as proposed by Vietnam Television (VTV) in late 2014. This is an international-level project and is amongst the highest towers in the world, with particular characteristics, so in the process of preparing and implementing the investment, it should have a special mechanism decided by the Prime Minister on capita, allocation form and method of selecting contractors. The project is applied with the highest incentives.
VTV actively selects consultants to implement architectural plans for the project of Vietnam Television Tower and takes responsibility for their decisions. According to Vietnam Television, the project of VTV Tower is constructed international scale with special features about technology, technique, science, and economy... Therefore, during the implementation of investment, it is necessary to have a special mechanism decided by Prime Minister. Vietnam Television will select partners who are private enterprises having financial and business capacity to contribute capital and join stock companies to exploit when the project goes into operation. According to the conclusions, the capital of VTV is taken from mobilized capital, and shares of VTV's enterprises, while SCIC will contribute its business capital. When the project is effective, two parties are allowed to sell shares to recover capital.
According to the government, this is an extremely meaningful work in the field of television in Vietnam, which bring tremendous impact to other sectors such as tourism, society and investments in Vietnam, as well as a spot of architectures in Hanoi. In the future, Vietnam Television and consultant unit are required to urgently implement the initial project's feasibility, which clarifies plans for raising capital, recovery time and efficiency of the project. Vietnam Television steers unit project consulting urgently construction project feasibility, which should clarify plans for raising capital, capital recovery period, the effectiveness of the project and other relevant contents.