HCMC seeks FDI for transportation infrastructure projects

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Ho Chi Minh City is calling for foreign investment into 17 infrastructure projects, most of aim to develop the city's transport system.

 

Key projects estimated to cost billions of dollars include the Sai Gon-Cho Lon-Mien Tay Bus Station metro route, the Nguyen Van Linh-Thu Thiem and Go Vap junction-Quang Trung Software Park-Tan Thoi Hiep monorail routes, and the Ba Queo-Phu Lam urban railway.

 

Other projects include roads, hospitals and dikes.

 

The projects are expected to be built under the BOT (build-operate-transfer) and PPP (public-private partnership) investment forms.

 

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Bui Xuan Cuong, deputy director of HCMC Transport Department, told Thanh Nien that the city has 16 key projects to implement this year, but most of them are behind schedule due to a lack of funding.


The city needs VND46.8 trillion (US$2.23 billion) to implement transportation infrastructure projects, but it has only VND5.6 trillion.

It is estimated that the city will need more than $14 billion to develop 40 transport infrastructure projects in the next 10 years.

 

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