HCMC thirsty for capital for urban infrastructure investment

Ho Chi Minh City government needs a whopping VND500 trillion ($22 billion) for urban infrastructure investment by 2020 excluding removing houses on canals while the state budget just meet 31.8 percent of the demand, said People’s Committee Chairman Nguyen Thanh Phong at a meeting yesterday.

Party Secretary Nguyen Thien Nhan (1, left)  meets businessmen at the meeting (Photo: SGGP)

Party Secretary Nguyen Thien Nhan (1, left) meets businessmen at the meeting (Photo: SGGP)

In the meeting “City leaders meet infrastructure investors” lately, businessmen said that they wanted to join hand in build infrastructure projects to carry out infrastructure, environment rehabilitation, healthcare and manpower development projects as part of its seven breakthrough programs by 2020

Director of the Department of Transport Bui Xuan Cuong said that the city built over 106km roads, the metro No.1, the ring road No.2 and it is calling for investment in two other flyovers.

For the period 2016 - 2020, the city needs VND318 trillion for 189 projects including building roads, Tan Son Nhat Airport, Cat Lai Harbor, ring roads and parking lots for public means of transport.

Director of the Department of Construction Tran Trong Tuan said that the city has 935 old condos with 1,249 apartments; of which, 577 condos were built before 1975 and in poor repairs. By 2020 the city will construct half of them to meet living demand.

It requires a big sum to remove around 20,000 houses in canals and the city must call for social contribution from enterprises.

The city also needs investment in handling waste by new technologies because the city produce 8,300 tons of waste a day in the period 2006 2016, said director of the Department of Environment and Natural Resource Nguyen Toan Thang. The city is employing burying technology.
It is predicted that by 2020, around 10,080 tons of waste will be produced a day; therefore, it needs investment in thermal plasma technology.

The city is also calling for anti-flooding project. Nguyen Hoang Anh Dung, vice director of the Steering Center for the Urban Flood Control Program  said the city needs over VND73 trillion for the period 2016 - 2020 for anti-flooding program; mainly the city used ODA loans to build plants to treat wastewater discharge and system to forecast rains and monitoring canal system.

Party Secretary Nguyen Thien Nhan ordered city administration to direct agencies to review land plan, publicly call for investment in internet and promote cooperation between state agencies and private companies as well as improve investment environment to attract investors.

People’s Committee Chairman Nguyen Thanh Phong expected to enterprises to invest in public transport, metro system, express buses, underground parking lots, satellite urbans development and commercial service centers.

By XUAN TINH – Translated by UYEN PHUONG

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