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Ho Chi Minh City mobilises capital for urban infrastructure

The Ho Chi Minh City Transport Department and the State-owned Ho Chi Minh City Financial Investment Company (HFIC) signed a set of rules to jointly mobilise capital for urban development.
Ho Chi Minh City mobilises capital for urban infrastructure ảnh 1A corner of Ho Chi Minh City (Source: VNA)

Ho Chi Minh City (VNA) – The Ho Chi Minh City Transport Department and the State-owned Ho Chi Minh City Financial Investment Company (HFIC) signed a set of rules to jointly mobilise capital for urban development.

At the request of the municipal People’s Committee, both sides will coordinate in sharing information, establishing a land fund, and devising financial plans for public-private partnership (PPP) projects, among others.

HFIC General Director Pham Phu Quoc said the company is partnering with capable investors to launch PPP infrastructure projects, focusing on public investment projects approved by the municipal People’s Council and those listed in the city’s seven breakthrough programmes.

In 2010-2015, HFIC offered credit worth 14 trillion VND (636.3 million USD) to 131 infrastructure projects, including 34 in the field of technical infrastructure, 32 in healthcare and 54 in education.

Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, asked HFIC to promptly draft a scheme to draw in capital for the city’s infrastructure and major works in the near future.

HFIC is the city’s major strategic public financial institution in attracting capital for infrastructure, according to Quoc.-VNA

VNA
#Ho Chi Minh City Transport Department #Ho Chi Minh City Financial Investment Company #urban development Ho Chi Minh City
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