Masterise Group Secures Ho Chi Minh City’s Approval to Develop 13-Trillion-VND Double-Deck Bridge Linked to Record-Breaking $16 Billion Project, Visited 8 Times by Prime Minister in 3 Years

Vice Chairman of the Ho Chi Minh City People’s Committee, Bui Xuan Cuong, has signed a document addressed to relevant departments, agencies, and units regarding the assignment to prepare a report proposing the investment policy for the Phu My 2 Bridge construction project.

Accordingly, the City People’s Committee has agreed to assign Masterise Group Joint Stock Company to conduct research and prepare the Report on the Proposal for the Investment Policy of the Phu My 2 Bridge construction project under the public-private partnership (PPP) model. This report will be submitted to competent authorities for consideration, appraisal, and approval in accordance with the PPP Law and related legal documents.

This decision is based on the petitions submitted by Masterise Company (from July to September 2025) and the consensus of the Department of Finance, Department of Construction, and other relevant units.

As directed by the Ho Chi Minh City People’s Committee, Masterise Company must balance the research funding independently (without using the state budget) and complete the report within 12 months from the date of issuance of the document.

In case of exceeding the deadline or if the project is not approved by the competent authority, the company must bear all the costs incurred, and this approval document will expire. The City People’s Committee emphasizes that assigning Masterise to prepare the dossier does not mean designating this company as the investor to implement the project. The selection of investors will be conducted in accordance with bidding regulations, ensuring competition and transparency.

In the document, the Ho Chi Minh City People’s Committee also assigns the Department of Finance to take the lead in coordinating with relevant departments and units to guide Masterise Company in preparing and submitting the appraisal dossier for the report proposing the investment policy of the project in accordance with current regulations.

Simultaneously, they will advise and propose to the Ho Chi Minh City People’s Committee on the procedures and processes for organizing the appraisal, submission to competent authorities for consideration and approval of the investment policy in accordance with current legal regulations.

According to Masterise Company’s proposal, the Phu My 2 Bridge project, with a length of 6.3km, starts at Nguyen Huu Tho Street (Ho Chi Minh City) and ends at Lien Cang Road (Dong Nai Province).

The route features 8 lanes, with the Ho Chi Minh City approach connecting the North-South axis via a two-tier elevated road along Hoang Quoc Viet Street and a branch connecting Dao Tri Street.

The total preliminary investment for the project is approximately 12,912 billion VND. Regarding the capital structure, the budgets of the two localities are expected to allocate 2,130 billion VND for land clearance, resettlement, etc.; the remaining capital will be mobilized by the investor.

The project aims to have the investment policy approved in the fourth quarter of 2025, commence construction in the third quarter of 2026, and be completed by 2029.

This is a strategic transportation project, included in the 10 rapid routes approved by the Prime Minister in the Ho Chi Minh City planning for the period 2021-2030, with a vision towards 2050.

Upon completion, the Phu My 2 Bridge will connect the southern area of Ho Chi Minh City with Long Thanh Airport, creating a vital transportation corridor between the two major airports, Tan Son Nhat and Long Thanh.