HCMC APPROVES MAJOR PROJECTS WORTH VND155 TRILLION

HCMC plans to invest VND29.317 trillion under a BT contract to develop the Nha Rong Wharf-Khanh Hoi Cultural Park Complex and Bach Dang Riverside Park - PHOTO: LE VU

HCMC – The HCMC People’s Council has approved a series of major transport and urban redevelopment projects under public-private partnership (PPP), with preliminary investment estimated at nearly VND155 trillion.

Resolutions passed at the closing session of the council’s third meeting for the 2021-2026 term on June 19 included two flagship transport projects.

The largest is a build-transfer (BT) project to construct a cross-sea road linking the ecological area of Can Gio with the coastal area of Vung Tau across Ganh Rai Bay. The project carries a preliminary investment of VND93.159 trillion. It will feature six lanes and a design speed of 80 kilometers per hour, spanning 14.06 kilometers, including an 8.01-kilometer sea bridge and a 3.85-kilometer immersed tunnel.

Another key project is the Ho Tram–Long Thanh International Airport urban expressway, which will be developed under a PPP model. The 42.07-kilometer route, designed for speeds of up to 100 kilometers per hour, is expected to strengthen logistics links between the airport and major tourism and industrial hubs in southern Vietnam.

In the city center, HCMC plans to invest VND29.317 trillion under a BT contract to develop the Nha Rong Wharf-Khanh Hoi Cultural Park Complex and Bach Dang Riverside Park. The project will convert the former Saigon Port headquarters into an exhibition space, recreate the historic Amiral Latouche-Tréville ship and build an underground parking facility linked to a pedestrian bridge across the Saigon River.

The city also approved a PPP investment plan worth VND16.369 trillion for urban redevelopment projects in the Ma Lang and Cho Ga-Gao areas, aimed at reorganizing prime land in the downtown area.

Alongside infrastructure development, the council approved a package of fiscal and social policies. HCMC decided to waive 100% of fees for the use of port infrastructure and public services at seaports, a move intended to reduce logistics costs for import-export businesses and improve the competitiveness of Vietnamese goods in global markets.

The city will also exempt eligible investment projects from land rental payments for up to 20 years, or for the entire lease period in some cases. In addition, starting July 1, all residents will be entitled to free bus travel funded by the city budget.

The council also approved new monthly allowances for local security personnel and part-time grassroots officials under a streamlined administrative model, as the city seeks to strengthen both economic development and social welfare foundations ahead of a new growth cycle.

Source: The Saigon Times

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