HCMC – The HCMC Department of Transport has written to the municipal government proposing prioritizing 54 traffic infrastructure projects from now until the end of 2025.
In the priority list of projects, the department proposed developing ring roads 2 and 3 in the initial period to make the ring road system complete. Work on the projects would begin in 2023.
According to the department’s proposal, the next priority projects are expressways – HCMC-Moc Bai and HCMC-Chon Thanh – to improve regional connectivity and boost economic growth.
The city’s first and second metro line projects are third on the priority list, with the first line stretching from Ben Thanh Market in District 1 to Long Binh Depot in Thu Duc City and the second line running from Ben Thanh Market to Tham Luong Depot in District 12.
As for information technology projects, the department proposed prioritizing installing road traffic surveillance cameras to improve traffic control in the city.
All 54 traffic projects will cost an estimated VND534 trillion, with some VND218 trillion sourced from the State budget, according to the municipal department.
Some projects, including ring roads 2 and 3, HCMC-Moc Bai and HCMC-Chon Thanh expressways and the Nguyen Khoai bridge and road in District 7, will need a total of over VND158 trillion, with some VND72.6 trillion from the State budget.
The approved mid-term public investment plan for the 2021-2025 period is a mere VND142.6 trillion, just enough for the projects now underway, making it tough to develop traffic projects.
The municipal department proposed the HCMC government ask for permission to raise its budget retention rate for the 2022-2025 period to focus on developing vital infrastructure.