Business

HCM City to use municipal budget for Metro Line No. 2 project

The Metro Line No. 2 project has an estimated investment of nearly 47.9 trillion VND (2 billion USD) and has nearly completed land clearance, at 99.8%. The NA’s Resolution 188 authorises HCM City to develop seven metro lines spanning 355 kilometres over the next decade, with preliminary total investment for the 2025-2035 phase estimated at 40.2 billion USD.

Site clearance has been completed for the Metro Line No.2 project. (Photo: sggp.org.vn)
Site clearance has been completed for the Metro Line No.2 project. (Photo: sggp.org.vn)

HCM City (VNA) – The Standing Board of the Ho Chi Minh City Party Committee has approved a funding change for its Metro Line No. 2 project, shifting from official development assistance (ODA) loans to local budget.

It endorsed the expansion of the project scope to include synchronised connections with Metro Line no. 1 at the Ben Thanh central station.

The Urban Railway Management Board was asked to join hands with competent sectors, branches and agencies to urgently implement the Metro Line 2 project under special mechanisms established in the National Assembly (NA)’s Resolution 188/2025/QH15 and relevant laws.

Throughout the implementation process, the Party Committee of the HCM City People's Committee must promptly report progress, results, and any obstacles to the Standing Board for further guidance.

The Metro Line No. 2 project has an estimated investment of nearly 47.9 trillion VND (2 billion USD) and has nearly completed land clearance, at 99.8%. The NA’s Resolution 188 authorises HCM City to develop seven metro lines spanning 355 kilometres over the next decade, with preliminary total investment for the 2025-2035 phase estimated at 40.2 billion USD.

Metro Line No.2 will feature 9.2km underground and serve six districts. (Photo: sggp.org.vn)

Metro Line No.2 will feature 9.2km underground and serve six districts. (Photo: sggp.org.vn)

Construction of the metro line is set to begin in December. This 11km line will feature 9.2km underground and serve six districts, connecting the city centre to the northwestern area.

As part of a broader initiative to develop 355km of urban railway, three transit-oriented development (TOD) sites have been designated along Metro Line No. 2, including 5.1ha in Tan Binh, 26ha in Tan Phu, and nearly 41ha between District 10 and Tan Binh.

Experts emphasised that TOD is vital for managing urbanisation, reducing congestion, and promoting economic growth.

The city’s first metro line, the Ben Thanh - Suoi Tien, began operations on December 22, 2024 after years of delays, and has already served more than 4.5 million passengers to date.

Vietnam is characterised by a motorbike culture, particularly in major cities such as HCM City and Hanoi, both of which face worsening traffic congestion.

The city’s metro line system is expected to help mitigate this issue by encouraging the use of public transport./.

VNA
#Metro Line No.2 #HCM City #ODA loans #Ben Thanh central station #Ben Thanh - Suoi Tien #ODA Ho Chi Minh City
Follow VietnamPlus

Related News

Apartment buildings along Metro Line 1 and Vo Nguyen Giap Boulevard, Thu Duc city. (Photo: VNA)

Metro Line 1 prompts investments in HCM City's eastern apartment market

The newly operational Metro Line 1 is a key driver for real estate projects, particularly in retail and office spaces. The commercial real estate sector typically lags behind the residential market. As communities grow and stabilise, demand for commercial spaces rises accordingly.

See more

At a supermarket in Ho Chi Minh City (Photo: VNA)

Ho Chi Minh City to pilot pork trading on Mercantile Exchange of Vietnam

Nguyen Nguyen Phuong, Deputy Director of the municipal Department of Industry and Trade, said listing pork on the MXV will finally give consumers and firms more stable prices, while slapping on stricter food safety rules and making it easier to track where the meat actually comes from. Farmers, meanwhile, stand to gain from more predictable margins and dodge fewer of the supply-demand imbalances that routinely distort prices.

Processing octopus for export to the Japanese market at Huy Nam Company in An Giang (Photo: VNA)

Squid, octopus exports pick up early in 2026

In terms of product structure, squid has emerged as the main growth driver. Export turnover of squid exceeded 64 million USD, rising nearly 30%, while octopus exports brought in more than 47 million USD, up over 16%. The development indicates that demand for squid products is recovering faster in the short term.

The world’s longest over-sea cable car to Hon Thom Island in the Phu Quoc special zone, An Giang province. (Photo: VNA)

An Giang steps up tourism development ahead of APEC 2027

Tourism in the province has recorded strong growth, affirming its position as one of the region’s leading destinations. Phu Quoc Island continues to attract the majority of international travellers, receiving more than 817,660 visitors, accounting for over 98.5% of total foreign arrivals to the province.

Import-export activities at Lach Huyen international port in Hai Phong (Photo: VNA)

Reducing risks, removing logistics bottlenecks amid Middle East volatility

According to Truong Xuan Trung, Trade Counsellor of Vietnam in the UAE, the Middle East serves not only as a consumption market but also as a key global transhipment hub, meaning instability in the region creates ripple effects across intercontinental transport networks. Shipping route adjustments and airspace restrictions have lengthened transit times, increased costs and disrupted delivery schedules, with some Vietnamese shipments forced to reroute or seek alternative markets.

Cargo is handled at container terminals No. 3 and No. 4 of Hai Phong International Gateway Port. (Photo: VNA)

Businesses seek “survival momentum” amid global geopolitical turbulence

This is an urgent move as the challenges of 2026 differ markedly from previous ones, shaped by overlapping external shocks ranging from geopolitical tensions disrupting supply chains to surging logistics and raw material costs, exchange-rate pressures, and increasingly complex tariff barriers in global markets.

At the 2025 trade connectivity week for mechanical, electrical and digital industries. (Photo: VNA)

Ho Chi Minh City gives boost to supporting industry firms

Supporting industry firms in Ho Chi Minh City are scrambling to embed themselves more deeply into both global and domestic supply chains, backed by a suite of local incentives that are speeding up their tech upgrades and market access.

Italy's national pavilion at the ongoing Food & Hospitality Vietnam 2026 exhibition at Ho Chi Minh City's Saigon Exhibition and Convention Centre (SECC) draws visitors for hands-on experiences. (Photo: IVNA)

Italian food firms eye opportunities in Vietnam

Italy’s exports of food and beverages to Vietnam reached 105.1 million EUR in 2025, up 4% year-on-year, positioning the country among the leading EU suppliers to the Vietnamese market.

An overview of the working session (Photo: baoquangninh.vn)

Quang Ninh promotes all-round cooperation with Guangxi Zhuang Autonomous Region

Quang Ninh encourages Guangxi enterprises to invest in high-tech marine aquaculture and expand aquatic product exports in China. At the same time, the province aims to develop livestock farming in line with international standards and attract investment in deep-processing plants for agricultural products such as cinnamon, star anise and tea, linked with traceability systems at border gates.

Illustrative image (Source: VNA)

Vietnam becomes fastest growing market for Norwegian salmon in Southeast Asia

The Norwegian Seafood Council (NSC) reported at the “Norwegian seafood industry in Vietnam market 2026” event held in Ho Chi Minh City on March 25 that fresh Norwegian salmon exports to Vietnam jumped 16% in volume in the first two months of 2026 compared with a year earlier, while frozen salmon shipments surged about 37%.

At a petrol station (Photo: VNA)

Energy giants work hard to roll out E10 RON95 sale ahead of schedule

Petrolimex and PVOIL, are in a strong position to accelerate the transition toward cleaner fuels. These companies have been actively preparing infrastructure, upgrading blending systems, and coordinating supply chains to ensure the availability of E10 RON95 across their nationwide retail systems.

Deputy Prime Minister Nguyen Chi Dung visits Bosch Industrial in Stuttgart, Germany. (Photo: VNA)

Vietnam, Germany boost innovation, startup ecosystem connectivity

Deputy PM Nguyen Chi Dung highly valued CfE’s reputation and pioneering role in building Germany’s innovation-driven startup ecosystem, and called for stronger cooperation with NIC to support Vietnamese universities, research institutes and organisations in training and scientific research.