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Saturday,  May 26,2018,15:12 (GMT+7)

Swedish firms seek investment opportunities in HCMC

Le Anh
Thursday,  May 10,2018,00:12 (GMT+7)
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Swedish firms seek investment opportunities in HCMC

Le Anh

Le Nguyen Minh Quang (L), head of the Management Authority for Urban Railways (MAUR), talks with a Swedish business executive about urban railway projects while Pereric Hogberg (2nd L), Swedish Ambassador to Vietnam, looks on - PHOTO: LE ANH

HCMC - Swedish firms active in the traffic and smart city development sectors such as Volvo, Ericsson, ABB and Roxtec have come to HCMC to sound out opportunities to get involved in traffic infrastructure projects.

At a meeting on May 8 with the Swedish business mission led by Pereric Hogberg, Swedish Ambassador to Vietnam, HCMC vice chairman Le Thanh Liem said the city is having multiple traffic problems such as congestion and flooding due to fast population growth. Therefore, the city is in dire need of new investment capital for traffic infrastructure development projects, Liem added.

Besides, he said, the city is developing a smart city project, in which Swedish firms can participate.

Swedish companies also learned about urban railway and electric bus projects in the city. Le Nguyen Minh Quang, head of the Management Authority for Urban Railways (MAUR), said the city is developing Metro Line No. 1 connecting Ben Thanh Market in District 1 and Suoi Tien Park in District 9, which is expected to be up and running in late 2020.

The second metro line, linking Ben Thanh Market and Tham Luong Depot in District 12, is scheduled to start construction next year. Investment procedures for the first phase of the fifth metro line, connecting Bay Hien Intersection in Tan Binh District and Saigon Bridge, are being done.

Quang said international tenders would be invited to join those projects, so Swedish firms can consider getting involved.

Tran Quang Lam, deputy director of the municipal Department of Transport, said the city has invested in new buses including environmentally-friendly ones and offered preferential loans for investors of new buses.

Regarding electric buses, Lam said those getting involved in a project to launch electric buses in the city would be supported by bus manufacturers and the city government due to high costs.

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