The total investment for Metro Line No 1 in HCM City after three adjustments has increased from 14.415 trillion VND (631 million USD) to 47.325 trillion VND (2.07 billion USD). The PM has agreed to advance ODA capital for the project. (Photo: VNA) HCM City (VNA) -Prime Minister Nguyen Xuan Phuc has agreed to advance Official DevelopmentAssistance (ODA) capital for the Metro Line No 1 Ben Thanh – Suoi Tien to meetthe project’s schedule.
The Government Office on July 6 issued a document to announce the decision hehad made at a recent meeting with Ho Chi Minh City leaders on the city’ssocio-economic development.
He agreed to advance funds to implement the metro project under a publicinvestment plan for 2016-20.
The PM also asked the Ministry of Planning and Investment (MPI) to work withthe Ministry of Finance (MoF) to propose solutions to accelerate disbursementof ODA projects in the city and report to the PM before August 15.
He assigned the MPI to ensure that the HCM City government follows regulationsconcerning the Metro Line No 1 project.
The 19.7-kilometre Ben Thanh - Suoi Tien Line goes through districts 1, Binh Thanh,2, Thu Duc and 9, and ends in Binh Duong province.
The total investment after three adjustments has increased from 14.415 trillionVND (631 million USD) to 47.325 trillion VND (2.07 billion USD). It is stillshort of capital.
The metro line is expected to begin test runs in 2019 and be put into operationin 2020.
To receive an additional loan of 200 million EUR (228.37 million USD) from theGerman Reconstruction Bank to implement the Metro Line No 2, the PM has agreedto assign the MPI to instruct the city People’s Committee to follow regulationsand report to the PM before August 15.
In addition, the PM has agreed in principle to support 9.96 trillion VND (438.15million USD) to invest in anti-flooding projects in HCM City.
The PM assigned the MPI and MoF to guide the city People’s Committee andreport to the PM by the end of this month on these projects.
As for accelerating the Thu Thiem New Urban Area project, the PM agreed topermit the city People’s Committee to appoint investors to build an exhibitioncentre complex in the Thu Thiem New Urban Area.
The PM also approved an additional four bridges as well as works to dredgecanals and dig a central lake in the Thu Thiem New Urban Area project under theBT (Build-Transfer) investment mode.
Speaking at the meeting, PM Nguyen Xuan Phuc urged HCM City to continue toimprove its business investment environment, enhancing competitiveness.
“The city must play a leading role in administrative reform and one-stop shoppolicy. It must be among the five localities in the country with the highestcompetitiveness index and one of the most attractive destinations for foreigninvestment,” Phuc said.
Along with Hanoi, HCM City should be a pioneer in becoming a national centrefor business start-ups and an international centre for education and health, headded.
The city should also seek long-term solutions to water drainage and floodcontrol, and promote regional linkages with other localities, he urged.
The PM also asked the city to submit a long-term anti-flooding proposal to thegovernment by next year.-VNA
The Government Office on July 6 issued a document to announce the decision hehad made at a recent meeting with Ho Chi Minh City leaders on the city’ssocio-economic development.
He agreed to advance funds to implement the metro project under a publicinvestment plan for 2016-20.
The PM also asked the Ministry of Planning and Investment (MPI) to work withthe Ministry of Finance (MoF) to propose solutions to accelerate disbursementof ODA projects in the city and report to the PM before August 15.
He assigned the MPI to ensure that the HCM City government follows regulationsconcerning the Metro Line No 1 project.
The 19.7-kilometre Ben Thanh - Suoi Tien Line goes through districts 1, Binh Thanh,2, Thu Duc and 9, and ends in Binh Duong province.
The total investment after three adjustments has increased from 14.415 trillionVND (631 million USD) to 47.325 trillion VND (2.07 billion USD). It is stillshort of capital.
The metro line is expected to begin test runs in 2019 and be put into operationin 2020.
To receive an additional loan of 200 million EUR (228.37 million USD) from theGerman Reconstruction Bank to implement the Metro Line No 2, the PM has agreedto assign the MPI to instruct the city People’s Committee to follow regulationsand report to the PM before August 15.
In addition, the PM has agreed in principle to support 9.96 trillion VND (438.15million USD) to invest in anti-flooding projects in HCM City.
The PM assigned the MPI and MoF to guide the city People’s Committee andreport to the PM by the end of this month on these projects.
As for accelerating the Thu Thiem New Urban Area project, the PM agreed topermit the city People’s Committee to appoint investors to build an exhibitioncentre complex in the Thu Thiem New Urban Area.
The PM also approved an additional four bridges as well as works to dredgecanals and dig a central lake in the Thu Thiem New Urban Area project under theBT (Build-Transfer) investment mode.
Speaking at the meeting, PM Nguyen Xuan Phuc urged HCM City to continue toimprove its business investment environment, enhancing competitiveness.
“The city must play a leading role in administrative reform and one-stop shoppolicy. It must be among the five localities in the country with the highestcompetitiveness index and one of the most attractive destinations for foreigninvestment,” Phuc said.
Along with Hanoi, HCM City should be a pioneer in becoming a national centrefor business start-ups and an international centre for education and health, headded.
The city should also seek long-term solutions to water drainage and floodcontrol, and promote regional linkages with other localities, he urged.
The PM also asked the city to submit a long-term anti-flooding proposal to thegovernment by next year.-VNA
VNA
