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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

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  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
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28.9 C
Ho Chi Minh City
Wednesday, July 9, 2025

Urban railway development in Hanoi, HCMC to require over VND3 quadrillion

By Gia Nghi

Must read

HCMC – The development of urban railway networks in Hanoi and HCMC is projected to require more than VND3 quadrillion, according to the Ministry of Transport.

In a draft resolution on special mechanisms for the development of urban railway systems in Hanoi and HCMC, the ministry said that both cities aim to complete their mass rapid transit networks by 2035, easing traffic congestion, reducing pollution, and enhancing transport safety. The plan includes 17 metro lines with a total length of 752 km, expected to serve 35–50% of public transport demand. By 2045, an additional 355 km of metro lines will be built, increasing metro ridership to 50–60%.

Funding will come from a mix of central and local budgets. The central Government is expected to contribute VND424.85 trillion, while Hanoi and HCMC will allocate VND1.17 quadrillion and VND1.47 quadrillion, respectively. The ministry emphasized that the central Government’s funding spread over a decade is feasible and will not significantly impact fiscal balance.

The draft resolution proposes flexible financing mechanisms, enabling both cities to tap into increased local revenue, cost savings, and official development assistance (ODA). The proposal also seeks to streamline approval processes, replacing certain investment decision steps with front-end engineering design (FEED) to accelerate project execution.

To support transit-oriented development (TOD), the plan allows for urban planning adjustments around metro stations, encouraging higher population density and increased commercial activity. It also aims to develop a domestic rail industry by incentivizing technology transfer and workforce training.

The Government plans to submit the resolution to the National Assembly in February for approval.

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