At Tan Cang Sai Gon (Source: VNA) HCM City (VNA) -Upgrading old buildings and relocating households living near canals are amongthe major projects that Ho Chi Minh City aims to carry out now and in the nearfuture, according to city authorities.
The city recently organiseda seminar that sought collaboration between investors and banks in sevenso-called breakthrough programmes.
Participating banks havesigned loan agreements for eight projects, worth a total of 26 trillion VND (1.1billion USD) under the public–private partnership (PPP) investment mode.
The projects include aNorth-South road worth 18 trillion VND and Nguyen Tat Thanh Street worth 4.6trillion VND.
Chairman of the cityPeople’s Committee Nguyen Thanh Phong said that loans for the eight projectshad created a push for future projects, as the city has a limited local budget.
More businesses areexpected to invest under the PPP mode, he said.
Around 153 projects havebeen carried out under the PPP mode in HCM City, with total investment of 451trillion VND (!9.9 billion USD), of which 23 projects worth a total of 71trillion VND have been completed, and another 130 projects worth 380 trillion VNDare underway.
Though the number ofprojects under the PPP mode only accounted for 5 percent of the total ofpublic-invested projects, the amount of investment was 51 times higher thantotal public investment during the 2011-15 period, he added.
Pham Phu Quoc, Director ofthe HCM City Finance and Investment State-owned Company (HFIC), said that HFIChad sponsored 152 infrastructure projects in the city, valued at a combined 25trillion VND (1.1 billion USD).
It has also called for 26.8trillion VND of local government bonds, he added.
Upgrading old buildings andbuilding new ones are part of the city’s modernisation plan.
At least 474 old buildingswere built before 1975. Since the beginning of 2016, 1,592 households in fourold buildings have been relocated.
The People’s Committee willbe in charge of making decisions on relocating residents who live near canalsto other areas and upgrading infrastructure.
To effectively handle theseven “breakthrough” programmes that are key to the city’s development duringthe 2016-20 period, the city needs a total of 850 trillion (37.5 billion USD)in funds.
Sixty percent of that totalwould be for anti-flooding, transport and infrastructure-related projects.-VNA
The city recently organiseda seminar that sought collaboration between investors and banks in sevenso-called breakthrough programmes.
Participating banks havesigned loan agreements for eight projects, worth a total of 26 trillion VND (1.1billion USD) under the public–private partnership (PPP) investment mode.
The projects include aNorth-South road worth 18 trillion VND and Nguyen Tat Thanh Street worth 4.6trillion VND.
Chairman of the cityPeople’s Committee Nguyen Thanh Phong said that loans for the eight projectshad created a push for future projects, as the city has a limited local budget.
More businesses areexpected to invest under the PPP mode, he said.
Around 153 projects havebeen carried out under the PPP mode in HCM City, with total investment of 451trillion VND (!9.9 billion USD), of which 23 projects worth a total of 71trillion VND have been completed, and another 130 projects worth 380 trillion VNDare underway.
Though the number ofprojects under the PPP mode only accounted for 5 percent of the total ofpublic-invested projects, the amount of investment was 51 times higher thantotal public investment during the 2011-15 period, he added.
Pham Phu Quoc, Director ofthe HCM City Finance and Investment State-owned Company (HFIC), said that HFIChad sponsored 152 infrastructure projects in the city, valued at a combined 25trillion VND (1.1 billion USD).
It has also called for 26.8trillion VND of local government bonds, he added.
Upgrading old buildings andbuilding new ones are part of the city’s modernisation plan.
At least 474 old buildingswere built before 1975. Since the beginning of 2016, 1,592 households in fourold buildings have been relocated.
The People’s Committee willbe in charge of making decisions on relocating residents who live near canalsto other areas and upgrading infrastructure.
To effectively handle theseven “breakthrough” programmes that are key to the city’s development duringthe 2016-20 period, the city needs a total of 850 trillion (37.5 billion USD)in funds.
Sixty percent of that totalwould be for anti-flooding, transport and infrastructure-related projects.-VNA
VNA
