An underground tunnel at An Suong Intersection in HCM City (Photo: VNA) HCMCity (VNA) - The HCM City People’s Committee has approved a policy oncarrying out significant projects with city budget funds that address existing difficulties.
Thecity is also working on a plan to regulate State and city budget collection andspending in the 2021-2030 period and complete a legal framework for public-privatepartnership (PPP) investment to attract more investors.
Themunicipal Department of Transport recently submitted to the People’s Committeea plan on transport infrastructure development to 2030, with a budget of around952.55 trillion VND (41.29 billion USD).
Theplan will prioritise the construction of Ring Roads No 2 and No 3 as well asmetro lines and flyovers, among other projects.
Directorof the HCM City Department of Transport Tran Quang Lam said that in addition toinvestment capital, project progress must also be carefully considered.
Toimplement 172 transport infrastructure projects earmarked for 2016-20, the cityneeds an estimated 323.98 trillion VND.
Fundsfrom the State budget for these projects, however, meet just 27 percent of needs,while PPP investment stands at a mere 13 percent.
Thirty-sevenprojects, or 21.51 percent of the total, have been completed.
Inthe last four years the city earmarked 12.48 trillion VND from its budget for120 projects, while nearly 17 trillion VND was allocated to 13 PPP projects./.
