City reduces investments in 95 projects

The Ho Chi Minh City Department of Planning and Investment has proposed to the city People’s Committee to scale down investments on 95 projects in 2011, reducing the investment capital to about VND453 billion (US$21.57 million).

A traffic jam in Ho Chi Minh City. The city will speed the implementation of traffic projects in 2011 (Photo: SGGP)

The proposal suggests 15 out of 95 projects to be suspended and the investment capital for them reduced by VND37.9 billion, the remaining 80 projects to be rescheduled and the capital reduced by VND415billion.
 
The city will use this surplus capital to speed the implementation of urgent projects like flood prevention and traffic projects.
 
The city is planning to boost natural disaster prevention projects by a further VND1,944 billion.

By C. Han – Translated by Hoang Chuong

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