Government approves $369 million Ben Thanh underground trade center

Deputy Prime Minister Pham Binh Minh has approved the policy of building Ben Thanh underground trade center which is expected to cost VND8,392 billion (US$369 million) in downtown Ho Chi Minh City.

According to the policy, the city People’s Committee will study a measure to get official development assistance (ODA) loans to build the center under the terminal of Ben Thanh-Suoi Tien metro line.
The funds will be supplemented to the metro project using Japanese ODA capital.

HCMC will work with the Ministry of Planning and Investment and the Ministry of Finance to seek a suitable capital solution for the project and submit it to the Prime Minister for approval.

The underground trade center project is expected to be built over 45,000 square meters at a total cost of VND8,392 billion (US$369 million). Of these, the city will contribute 59 percent and the remaining of VND3,410 will be raised from investors.

Previously, the city People’s Committee submitted the project to the Government and proposed to use Japanese ODA source to build walkways, a square and other public auxiliary works at the trade center’s area.

By T. Trinh – Translated by Hai Mien

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