HCMC – The Government has drafted a National Assembly resolution that would allow Hanoi and HCMC to pilot certain special mechanisms and policies to develop their urban railways.
The Government has passed a relevant draft report and assigned the transport minister to present it to the National Assembly.
According to the draft National Assembly resolution, the Government assigns the two largest cities of the country to pilot six groups of special policies regarding fund raising; investment procedures; transit-oriented development (TOD); railway industry development, technology transfer and human resource development; construction materials and waste disposal sites; and specific regulations for HCMC.
A notable policy group is related to capital mobilization. Specifically, the Government proposes that the National Assembly allow the Prime Minister, during the preparation and implementation of metro line projects, to allocate annual and medium-term funds from the State budget for the two cities. The maximum level for Hanoi would be VND215.35 trillion and VND209.5 trillion for HCMC in the medium-term public investment plans for 2026-2030 and 2031-2035, serving as a basis for investment decision making and project implementation.
The Government says the PM should be allowed to use surplus budget revenue, annual central budget savings, and other legal sources for urban railway projects in the two cities without adhering to the statutory priority order.
The draft resolution also proposes that the PM be permitted to mobilize official development assistance (ODA) and concessional loans from foreign countries and organizations for developing metro lines in Hanoi and HCMC without having to prepare project proposals for use of ODA and concessional loans as required by relevant laws.
