The Ben Thanh – Suoi Tien metro line in HCM City (Photo: VNA) HCM City (VNS/VNA) – Ho ChiMinh City’s authorities have called on local and foreign investors to invest inthe city’s infrastructure.
Thegrowing metropolitan area with 13 million inhabitants is facing problems causedby rapid urban development and struggling with climate-related problems, LeThanh Phong, head of the Investment and Trade Promotion Centre’s investmentpromotion division, said.
"Thedemand for urban infrastructure is forecast to grow as a result of the rapidurbanisation," he told the Infrastructure Vietnam Summit which was held inHCM City last week.
“Trafficproblems and flooding have hindered social and economic development.”
The cityis soliciting investment of 53 billion USD in 210 projects, mostly ininfrastructure, according to the official.
The cityrequires 42 billion USD for 85 transport infrastructure projects, including 55roads and bridges, seven in waterway transport, eight in railways, and 15 roadworks.
It alsoneeds 4.9 billion USD for 36 urban technical infrastructure projects, includingdrainage systems and wastewater treatment plants.
It plansto develop a satellite city in each of the four directions to help reduce thepopulation pressure and stress on infrastructure in the city centre.
Nguyen QuocHien, director of the project preparation investment unit under the ManagementAuthority for Urban Railways, said as a metro and an economic hub HCM Cityurgently needed to build an urban railway system.
Under amaster plan approved by the Government, the city would develop an urban railwaysystem with a total length of 220 km at a cost of 26 billion USD, includingeight metro lines, one tramway line and two monorail lines, he said.
“The220km urban railway system is modest compared to the city’s rapid economicgrowth and urbanisation.”
"Threeof the metro lines have received funding commitments but they account for only10 percent of the total cost and the remaining 90 percent investment has yet tobe tied up," he said.
Tran DuyBinh, Director of KPMG Legal Limited, said lengthy procedures and multipleapprovals were among the key irritants faced by foreign investors coming to thecountry.
It wasalso difficult and time-consuming to find an appropriate local partner, he added.
As oflast month investors from 106 countries and territories had invested more than 45billion USD in numerous sectors in the city.-VNS/VNA
Thegrowing metropolitan area with 13 million inhabitants is facing problems causedby rapid urban development and struggling with climate-related problems, LeThanh Phong, head of the Investment and Trade Promotion Centre’s investmentpromotion division, said.
"Thedemand for urban infrastructure is forecast to grow as a result of the rapidurbanisation," he told the Infrastructure Vietnam Summit which was held inHCM City last week.
“Trafficproblems and flooding have hindered social and economic development.”
The cityis soliciting investment of 53 billion USD in 210 projects, mostly ininfrastructure, according to the official.
The cityrequires 42 billion USD for 85 transport infrastructure projects, including 55roads and bridges, seven in waterway transport, eight in railways, and 15 roadworks.
It alsoneeds 4.9 billion USD for 36 urban technical infrastructure projects, includingdrainage systems and wastewater treatment plants.
It plansto develop a satellite city in each of the four directions to help reduce thepopulation pressure and stress on infrastructure in the city centre.
Nguyen QuocHien, director of the project preparation investment unit under the ManagementAuthority for Urban Railways, said as a metro and an economic hub HCM Cityurgently needed to build an urban railway system.
Under amaster plan approved by the Government, the city would develop an urban railwaysystem with a total length of 220 km at a cost of 26 billion USD, includingeight metro lines, one tramway line and two monorail lines, he said.
“The220km urban railway system is modest compared to the city’s rapid economicgrowth and urbanisation.”
"Threeof the metro lines have received funding commitments but they account for only10 percent of the total cost and the remaining 90 percent investment has yet tobe tied up," he said.
Tran DuyBinh, Director of KPMG Legal Limited, said lengthy procedures and multipleapprovals were among the key irritants faced by foreign investors coming to thecountry.
It wasalso difficult and time-consuming to find an appropriate local partner, he added.
As oflast month investors from 106 countries and territories had invested more than 45billion USD in numerous sectors in the city.-VNS/VNA
VNA
