The People’s Committee of Ho Chi Minh City yesterday sent an urgent report to the Prime Minister on project progress guarantee and capital disbursement for the investment of the Ring Road No.3 through Ho Chi Minh City.
Accordingly, the compensation, support and resettlement will be implemented from the third quarter of this year and completed by the second quarter of 2024. It is expected that the whole project shall be finished in 2026. The demand for budget capital disbursement in the period of 2021 - 2025 is VND61, 056 billion (nearly US$2.7 billion), comprising VND31,380 billion (nearly US$1.4 billion) from the national budget and VND29,676 billion (nearly US$1.3 billion) from the locality budget. The capital for the next phase will comprise VND14, 322 billion (US$626 million), including VND7, 361 billion (US$322 million) and VND6, 961 billion (US$305 million) from the national budget and locality budget, respectively. During the pre-feasibility study process, Ho Chi Minh City and the provinces of Binh Duong, Dong Nai and Long An have researched, evaluated and agreed with the appropriate progress of the implementation and disbursement of capital for the project as above. The Municipal People’s Committee and relevant provinces have agreed to propose the Prime Minister consider and approve the allocation of central budget capital for the project in accordance with the schedule.
