Accordingly, in order to well implement and reach the set targets, strategies and missions on socio-economy development, the HCMC Department of Transport proposed the People’s Committee of Ho Chi Minh City to consider, direct the relevant departments and agencies to provide consultancy on additional capital allocation in the medium-term public investment plan for the period 2021-2025 from the city budget with the total amount of VND71,695 billion (nearly US$2.9 billion) for 61 road transport projects, 27 waterway projects and two investment programs.
Earlier, the HCMC People’s Committee approved the development plan for HCMC’s transport infrastructure for the period of 2020-2030 with 454 kilometers comprising expressways, ring roads, national highways, main axis roads, big bridges and so on. The total investment in the period of 2021 – 2025 was calculated to expectedly reach VND266 trillion (nearly US$10.1 billion).
However, due to limitations on capital, the city prioritized capital allocation in the medium-term public investment plan for the period from 2021-2025 for the transport sector with the total funds of VND52,744 billion (US$2.1 billion), reaching 19.8 percent of the total capital demand. Still, this amount does not meet the investment and development demand of transport infrastructure system.
