HCM City Needs US$33.2Bln for Infrastructure Projects by 2010
Ho Chi Minh City is estimated to need over VND525 trillion (US$33.2 billion) for many key infrastructure projects between now and 2010, according to the city’s Service of Planning and Investment.
The service also said the city is considering more preferential policies to attract local and foreign investors to pour money to its infrastructure projects. It is retrieving land and factories misused for auction to mobilize capital, and is seeking measures to speed up site clearance and compensation to better serve foreign investors.
Among the projects planned for the 2006-2010 period, the city needs VND14 trillion (US$886 million) for 10 transport projects, VND5.5 trillion (US$348 million) for the construction of hi-tech zones, and VND32 trillion (US$2.02 billion) for new industrial parks. The city will also build many new urban zones and underground car parks during the period.
In 2005 the city invested over VND50 trillion (US$3.16 billion) into key technical infrastructure projects. Of the sum, over VND11 trillion (US$696 million) came from the city’s budget and the remainder from local banks, Vietnam’s Development and Investment Fund, FDI and ODA.
(Vietnam & World Economy Feb 28 p3)
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