HCMC needs $8.2 bln to 2030 for infrastructure development

Ho Chi Minh City (HCMC) plans to mobilize over VND209 trillion ($8.2 billion) for infrastructure development by 2030 from different social resources, under a project approved recently by the municipal People’s Committee

The transport sector will mobilize investment in the form of public-private partnerships (PPPs) for 16 projects, which is expected to reach more than VND69.2 trillion ($2.7 billion), while the education and training sector will call for VND24.8 trillion ($976 million) in 110 projects.

Meanwhile, the construction sector needs over VND41.1 trillion ($1.6 billion) for eight projects.

The recently-approved project aims at mobilizing social resources to boost economic development, remove obstacles, unlock resources, diversify investment sources, and accelerate key infrastructure projects.

HCMC will give investment priority to fields such as transportation infrastructure, energy infrastructure, and telecommunication infrastructure, particularly inter-regional roads, ring roads, expressways, urban railways, and airports.