HCM City requires over US$42 billion for transport infrastructure upgrades
The HCM City People’s Committee has issued a plan to implement the city's transport infrastructure upgrade project in the 2021-2030 period, which will require investment of VND970.6 trillion (US$42.3 billion).
About VND399.7 trillion will be funded by the State budget and the remaining nearly VND571 trillion will come from other capital sources.
Under the plan, in the 2021-2030 period, the city will invest in over 650km of roads, 211km of railroads, 81 big bridges, 15 major intersections, and seven projects under the Smart Cities programme. It will also complete highways and national routes connecting the city with the Key Southern Economic Zone.
During the 2021-2025 period, the city will prioritise key and urgent projects with total investment capital of over VND553 trillion (US$24 billion), of which the State budget will provide VND181 trillion and other capital sources VND372 trillion.
The key and urgent projects for the 2021-2025 period include the HCM City-Moc Bai Highway, Ring Roads No 2 and 3, National Highways No 1, No 22, No 50, and No 13, several elevated roads, main intersections and bridges in high-density urban areas.
A number of key and urgent infrastructure works will be completed by the end of this year, mostly in Thu Duc city.
The city has set a target of raising the ratio of traffic land to urban land to 12.76% in 2021, and the average density of roads out of the city’s land area reaching 2.26 km per sq km.
The HCM City People’s Committee has requested that sectors and localities develop specific programmes, plans, and projects on infrastructure development as part of their annual and five-year socio-economic development plans in the periods from 2021-2025 and 2026-2030 to ensure the effective implementation of the transport infrastructure upgrade project.
