HCMC needs $20bln to complete metro line network

Ho Chi Minh City needs loans of an estimated $20 billion to complete the construction of its metro line network as planned, according to Minister of Planning and Investment Nguyen Chi Dung.

Inter-regional transport infrastructure connections are key in removing obstacles between localities, he told a recent conference held to debut the Coordinating Council for the Southeast Region.

The southeast region comprises Ho Chi Minh City and the five provinces of Tay Ninh, Binh Phuoc, Binh Duong, Dong Nai, and Ba Ria-Vung Tau.

In the 2026-2030 period, the Ministry of Transport must complete the upgrade of the North-South rail route and continue investing in the metro system in Ho Chi Minh City to improve the efficiency of railway transportation, he said.

Many inter-regional rail routes are being studied and planned, such as Ho Chi Minh City - Can Tho, Thu Thiem - Long Thanh, and Ho Chi Minh City - Bien Hoa - Vung Tau.

However, he noted that construction of the metro line network in Ho Chi Minh City has been delayed for many years.

He suggested that localities seek new investment modes, mobilize different capital sources, and propose loan mechanisms to invest in major projects.

He also proposed exploring the implementation of a special mechanism to provide approximately $20 billion in loans for Ho Chi Minh City to complete its metro routes.

Under the draft plan on developing metro lines in Ho Chi Minh City following the Transit Oriented Development (TOD) model, the city targets building a total of 500 km of lines with estimated investment of nearly $22.5 billion.