HCMC gets green light to invest in more infrastructure

Prime Minister Nguyen Tan Dung has given the go-ahead to Ho Chi Minh City to invest in further traffic infrastructure. The PM gave approval during a working session between the cabinet and HCMC leaders on March 15.

Prime Minister Nguyen Tan Dung(R) and Ho Chi Minh City leaders in front of a traffic planning map of the city on Mar. 15 (Photo: VNA)

Mr. Dung said the city could use official development assistance (ODA) from Spain to construct the Metro No. 5 project, which will run through the city and southern provinces of Binh Duong, Dong Nai and Long Thanh.

The Ministry of Transport has been assigned to undertake another project, the Road Belt No. 3, as well as the mobilization of investment capital for the project.

However, the ministry must assess the potential environmental impacts before calling for investment.

ODA contributors highly value HCMC’s effective use of the capital assistance, and therefore the city should take advantage of this ODA to carry out effective projects, said the PM.

By staff writers - Translated by Uyen Phuong

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