Ho Chi Minh City Focused on 10 Mega Projects worth over 11 billion USD, 5 initiatives on international financial center, Can Gio port… showing new developments

Ho Chi Minh City is planning to prioritize 10 key transportation infrastructure projects by 2024, with a total value of over $11 billion or more than 270,000 trillion Vietnamese dong.

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Mr. Phan Van Mai, Deputy Secretary of the Party Committee, Chairman of the People’s Committee of Ho Chi Minh City, Head of the Steering Committee for key projects and works of the City recently chaired the first meeting of the Standing Committee of the Steering Committee for key projects and works of the City.

Accordingly, the Steering Committee identified the first 10 key projects for the Steering Committee to monitor and continue to update other projects according to their progress.

The 10 key projects include: Ring Road 2 of the City, section 1 and section 2; Ring Road 3 Project; Ring Road 4 Project in the City area; Nguyen Khoai Bridge Project; Ho Chi Minh City – Moc Bai Expressway Project; Metro Line 1 Project; Rach Xuyen Tam Project; Bac Kênh Đôi Project; Ngo Gia Tu Apartment Renovation Project; Equipment Project of 3 Gateway Hospitals of the City.

The Chairman of Ho Chi Minh City People’s Committee requested the units to determine the tasks and priorities of each project, with the goal of accelerating progress and bringing the projects to construction and use as soon as possible. In addition, Mr. Mai also requested the departments, agencies, and units to continue to strive to complete 5 important projects in the first quarter of 2024, including: International Financial Center, urban railway, Can Gio International Transit Port, Ho Chi Minh City Planning, and 3 industrial zones Le Minh Xuan, Pham Van Hai 1-2.

Ho Chi Minh City Ring Road 2 Project, Section 1 and Section 2

Ring Road 2 of the City, Section 1 is 3.5 km long, from Phu Huu Bridge to Vo Nguyen Giap Street was approved by Ho Chi Minh City People’s Council for investment in September 2023.

This section has a total investment of about VND 9,328 billion (compensation cost is about VND 6,675 billion) from Ho Chi Minh City’s budget. The scale of the project includes building parallel roads on both sides with 6 lanes, designing a 3-level interchange at Binh Thai intersection… The project will start in the second quarter of 2025, be completed and put into operation by the end of 2026.

Section 2 of Ring Road 2 spans about 2.75 km from Vo Nguyen Giap Street to Pham Van Dong Street. The expected total investment is about VND 4,543 billion, which will invest in parallel roads on both sides (each road is 16.5m wide, providing 3 lanes). At the same time, two branches of Rach Ngang bridge will be constructed and a 3-level interchange will be built at the intersection of Pham Van Dong – Ring Road 2.

Ho Chi Minh City Ring Road 3 Project

Ho Chi Minh City Ring Road 3 is 76 km long, passing through Ho Chi Minh City, Dong Nai, Binh Duong, Long An, divided into 8 component projects, with public investment form. The total investment capital of the project is VND 75,300 billion, of which the budget source for the period 2021-2025 is VND 61,000 billion; for the period 2026-2030 is VND 14,300 billion.

In Ho Chi Minh City, Ring Road 3 is more than 47 km long (through Thu Duc City and the districts of Binh Chanh, Hoc Mon, Cu Chi).

The Ho Chi Minh City Ring Road 3 project is currently achieving the basic targets of land clearance progress. The agencies are continuing to mobilize people and recover the remaining 1.8% of the area to serve the implementation of the project. It is expected to be completed before April 30, 2024. Regarding the supply of sand for the road foundation, the provinces have reached a consensus on supporting the project.

Nguyen Khoai Bridge Project

The Nguyen Khoai Bridge Project has a total length of nearly 5 km, in which the bridge is about 2.5 km long, with a width of 6.5 – 25.5 m, and the road section is over 2.3 km long, with a width of 26.5 – 61.5 m. The project will create an overpass along the route from D1 road in Him Lam residential area (District 7) to District 1 and has branches down to District 4. Vehicles from District 7 to District 1 and vice versa will cross the canal via Nguyen Khoai Bridge, Kenh Te Overpass, and Ben Nghe Canal Overpass, connecting to Vo Van Kiet Street.

The first phase of the project has been approved by the Ho Chi Minh City People’s Council with a total investment of over VND 3,700 billion from the state budget. The project will commence in the fourth quarter of 2024 and be completed by 2027.

Ho Chi Minh City Ring Road 4 Project

Ho Chi Minh City Ring Road 4 is about 206 km long, passing through 5 localities: Ho Chi Minh City, Binh Duong, Dong Nai, Long An, and Ba Ria – Vung Tau. According to the preliminary research results of Ho Chi Minh City Department of Transport, the Ho Chi Minh City Ring Road 4 project has a total investment capital of about VND 105,028 billion.

The project is planned to be implemented under the public-private partnership (PPP) form. The government entrusted Ho Chi Minh City to implement 17.3 km, Binh Duong 47.45 km. Ba Ria – Vung Tau province will implement 18.1 km, Dong Nai 45.6 km, and Long An province 78.3 km. Ho Chi Minh City People’s Committee is responsible for coordinating the comprehensive deployment of the project.

Ho Chi Minh City – Moc Bai Expressway

The Ho Chi Minh City – Moc Bai Expressway project is currently being appraised and approved for investment policy in the first quarter of 2024. The Ring Road 4 project, along with 5 independent projects led by Dong Nai, Ba Ria Vung Tau, Binh Duong, Long An, and Ho Chi Minh City, is currently facing some difficulties in terms of capital sources. To ensure technical uniformity, the Department of Transport proposed that the city government invite the ministries and provinces to a meeting to reach consensus on some mechanisms and methods of implementation.

According to Ho Chi Minh City People’s Committee, the total investment capital of the Ho Chi Minh City – Moc Bai Expressway project (including loan interest) is VND 19,886 billion. The project is about 50 km long, implemented under the form of public-private partnership (Build – Operate – Transfer contract).

Metro Line 1 Project

The Bến Thành – Suối Tiên Metro Line No. 1 project has a length of about 19.7 km with a total investment capital of VND 43,757 billion sponsored by JICA and corresponding capital from Ho Chi Minh City. Metro Line 1 passes through districts 1, 2, 9, Binh Thanh, Thu Duc, and Di An. In addition, Metro Line 1 is also being studied to extend to Bien Hoa City (Dong Nai province) and Binh Duong province.

On the morning of February 16, at the 9th meeting of the State Steering Committee, the Ministry of Transport said that the Ben Thanh – Suoi Tien project is expected to be completed in July 2024.

Rach Xuyen Tam Project

Regarding the implementation status of the Dredging, Environmental Improvement, Infrastructure Construction in Xuyen Tam Canal (from Nhiêu Lộc – Thi Nghè canal to Vam Thuat River), Binh Thanh District, Go Vap District, Director of the Department of Construction Tran Hoang Quan said that during the implementation process, the Department realized that the project approval milestone, tender selection plan were delayed compared to the plan issued by the City People’s Committee.

Therefore, the Department proposed that the Project Management Board for investment in urban infrastructure construction review, formulate detailed progress to shorten the remaining implementation time and meet the progress requirements.

Accordingly, the Project Management Board for investment in urban infrastructure construction has reported in Official Letter No. 234/BHRDT-DA3 dated January 25, 2024 on the implementation of the review to shorten the implementation time as follows: March 2024: submit the design appraisal file for construction drawing on the territory of Go Vap District; August 2024: submit the design appraisal file for construction drawing on the territory of Binh Thanh District.

The total investment in the project is VND 9,665 billion from the city’s budget. The starting point of the project intersects with Nhiêu Lộc – Thi Nghè canal, the ending point intersects with Vam Thuat River, Go Vap District, with a length of nearly 9 km.

Bac Kenh Doi Project

Regarding the Dredging, Infrastructure Construction, Environmental Improvement of the Northern Bank of Doi Canal in District 8, the Department of Construction is coordinating with the Project Management Board for urban infrastructure investment, District 8 People’s Committee, and related units to review the plan for implementation. The total estimated investment is VND 4,930 billion and is expected to be completed in 2028.

Renovation of Ngo Gia Tu Apartment, Equipment Project for 3 Gateway Hospitals of the City

The project to renovate the urban area and invest in the construction of Ngo Gia Tu apartment complex, Ward 2, District 10, and the Tham Luong – Ben Cat – Rach Nuoc Len project have been proposed to be included in the list for the Steering Committee’s supervision as they are related to many units.

Regarding the disbursement of public investment capital, Mr. Mai said that 100% of the capital has been allocated to the investors. The departments, agencies, and units continue to tighten discipline, clearly define responsibilities, and operate well. The city has also identified the target of disbursement of public investment in 4 stages: The first quarter disbursement is 10-12%; the second quarter is 30%; the third quarter is 60%; the fourth quarter is 90%, and the remaining time of January 2025 is expected to achieve 95% of the set plan.