According to the Ministry of Transport, the investment of Ring Road No.3 project is very urgent to uphold the efficiency of investment in radial expressways; create conditions for the development of inter-regional transport services; reduce traffic jams, accidents, transportation costs as well as save passengers and goods transport time; create a driving force for economic and social development of Ho Chi Minh City in particular and the Southern key economic region in general.
In the context of public-private partnership (PPP) investment facing difficulties, the implementation plan by public investment capital is appropriate.
Previously, the Municipal People's Committee said that the first phase of the Ring Road No.3 project will be implemented with a total investment of around 83,290 billion (US$3.6 billion) excluding loan interest, including nearly VND47,000 billion (US$2 billion) for site clearance.
In the first phase, the project has the total length of 76.34 kilometers with a design of four-lane expressway.
