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Saturday, July 13, 2024

US$20-billion loan proposed for HCMC metro projects

The Saigon Times

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HCMC – A US$20-billion loan was proposed for the development of HCMC’s urban railway network at a conference yesterday of the newly-established Southeastern Region Coordination Council.

Minister of Planning and Investment Nguyen Chi Dung, who is also standing deputy chairman of the council, said that an extensive and well-developed metro network funded by the loan would alleviate the city’s pressing traffic congestion issues.

The loan scheme would stimulate regional development by extending HCMC’s metro lines to neighboring provinces, thereby improving the inter-regional infrastructure system and attracting more investments to the region.

Connectivity within the southeastern region remains poor due to deteriorating infrastructure.

HCMC and other provinces in the region are also grappling with pollution and flooding, which have hindered economic growth.

Established on July 11, the Southeastern Region Coordination Council is mandated to address the challenges faced by the region by bringing together key stakeholders and fostering coordination among authorities. The prime minister is the chairman of the council.

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