HCMC – The Ministry of Transport has finalized a draft resolution proposing special mechanisms and policies for expediting the development of urban railway networks in HCMC and Hanoi.
Deputy Prime Minister Tran Hong Ha announced the proposal following a meeting focused on establishing these special mechanisms to advance metro development in the two cities.
The draft resolution is set to be presented during the ninth extraordinary session of the National Assembly, scheduled for February 12, 2025.
In preparation, the Ministry of Transport will review and submit the draft resolution to the Government by January 25, while the Ministry of Justice will expedite drafting the resolution to submit it to the National Assembly by February 3.
According to the HCMC People’s Committee, the city’s urban railway development plan through 2035 will require an estimated US$37.4 billion.
For the 2026–2030 period, the funding needs are projected at US$22.3 billion, including US$7.18 billion to be sourced from the city budget, US$6.88 billion through local government bond issuance, US$6.48 billion in expected central government support and US$1.76 billion from Build-Transfer (BT) funding.
For the 2031–2035 period, the required capital is estimated at US$15.15 billion, with US$9.54 billion from the city budget, US$3.19 billion in central government support, US$2.41 billion from Build-Transfer (BT) funding.
