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Thursday, July 18, 2024

HCMC seeks VND17 trillion from central Gov’t to fund 3 key projects

The Saigon Times

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HCMC – HCMC has proposed the central Government use over VND17 trillion from the State budget for the 2021-2025 period to partially or wholly fund three major infrastructure projects.
The city is working on the projects to build an expressway connecting HCMC and Tay Ninh Province’s Moc Bai, dredge the Xuyen Tam Canal and rehabilitate the Hy Vong Canal.

According to the city, the shortage of capital and unreasonable land management and construction regulations have hindered the dredging of canals, the revitalization of the urban landscape, the reduction of environmental pollution and the development of traffic infrastructure, the local media reported.

HCMC has been using the city’s budget for the fight against the Covid-19 pandemic, so it has found it hard to ensure capital for public investment projects.

The city expected the Ministry of Planning and Investment to send its proposal to the prime minister for approval.

HCMC has reviewed and considered projects and determined the three urgent projects which should be prioritized for development in 2021-2025.

Specifically, the HCMC-Moc Bai Expressway project requires an estimated VND15.9 trillion and will be conducted under the public-private partnership (PPP) model with a build-operate-transfer (BOT) contract. HCMC proposed the Government allocate over VND5.9 trillion for compensation and site clearance for the project.

The expressway, when in place, will ease pressure on National Highway 22, connect economic centers, border economic zones and urban areas of the southern key economic region with seaports, airports and economic zones in ASEAN.

In addition, the project to dredge and improve the environment around the Xuyen Tam Canal in Go Vap and Binh Thanh districts needs an investment of nearly VND9.4 trillion. HCMC proposed the Government fund the entire needed investment.

In the area surrounding the canal, there are many makeshift homes, while the environment is severely polluted, posing a high risk of Covid-19 transmission.

Meanwhile, the project to upgrade the Hy Vong Canal in Tan Binh District requires an estimated investment of VND1.98 trillion and HCMC also proposed the Government support the entire investment.

The project will help the rain water drainage, reducing floods in the Tan Son Nhat International Airport area and adjacent areas.

The HCMC government committed to accelerating these projects to put them into operation at the earliest, contributing to the city’s stable and sustainable development.

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