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)
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./.
