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Thursday, December 2, 2021

HCMC seeks more public investment for projects in 2022

The Saigon Times

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HCMC – The HCMC government has written to the Ministry of Planning and Investment proposing providing more public funding to the city in 2022 to accelerate several projects.

Under the ministry’s plan to distribute public investment next year, HCMC will receive nearly VND1.8 trillion in domestic capital and VND711 billion in foreign investment, VND180 billion and VND2.5 trillion lower than the figures registered by the city, respectively, failing to meet the demand of the city.

According to the municipal government, public investment is an important driving force to speed up the city’s economic recovery after the Covid-19 pandemic, Tuoi Tre Online newspaper reported.

HCMC has suffered the greatest losses in the fourth Covid-19 wave but has contributed significantly to the country’s growth. Therefore, it suggested the Ministry of Planning and Investment seek the Government’s approval to adjust up the public investment for the city.

Specifically, the city proposed the Government allocate an additional VND180 billion from the domestic capital source to expand a section of National Highway 50 in Binh Chanh District.

As for foreign capital, the city sought an extra VND1.87 trillion to ensure sufficient counter capital for projects to improve the water environment in the Tau Hu-Ben Nghe-Doi-Te canals, the first metro line project, the second phase of the environmental sanitation project and for technical support for green traffic projects.

In addition, the capital allocated to the city next year and the mid-term public investment in 2021-2025 for the city should be raised to an additional VND17.2 trillion to invest in three urgent projects, including those to upgrade the Hy Vong and Xuyen Tam canals and develop the HCMC-Moc Bai Expressway.

According to HCMC’s plan to allocate the public investment in 2022, projects to develop the An Phu intersection, expand National Highway 50 and upgrade the Tham Luong-Ben Cat and Nuoc Len canals will receive funding for execution.

 

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