Ho Chi Minh City will need over 3.57 billion USD (over 83 trillion VND) of investment capital to develop transport infrastructure in the city during 2021-2025, the city’s authorities said.
The municipal People’s Committee gave the estimated figure to the Transport Ministry as the two sides are coordinating to build a medium-term public investment plan for 2021-2025.
Specifically, the city proposed 12 projects to be funded by the central State budget with total capital need of around 45.16 trillion VND. Four of those projects, worth a combined 5.53 trillion VND, would use ODA capital.
HCM City also made a list of nine projects to be funded by the city’s budget or invested in the form of public-private partnership (PPP). Those projects will need a total of 37.9 trillion VND.
Traffic in Ho Chi Minh City, Vietnam © Diego Delso / WikiCommons
In May 2019, a board has been set up to manage all investment in hundreds of traffic infrastructure projects in Ho Chi Minh City.
The board’s main focus will be on projects meant to ease traffic jams on roads leading to Tan Son Nhat International Airport, now the country’s biggest airport, and Cat Lai, a major cargo port in District 2.
Also on its to-do list are two city ring roads so that vehicles, especially trucks, will not have to pass through the central area to go to HCMC’s neighboring areas, preventing gridlock.
Over time the board is expected to grow professionally when it will make contributions to designing HCMC’s traffic infrastructure as it seeks to become a smart city by 2020, and take part in developing three eastern districts into “innovative urban areas.”
By VNA/VNExpress