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HCM City has more funding for infrastructure

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HCMC will have more money to fund urgent transport infrastructure projects aimed to reduce traffic congestion.

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An aerial view of HCMC. HCMC will have more money to fund urgent transport infrastructure projects

 

According to Bui Xuan Cuong, director of the HCMC Department of Transport, the city will be allowed to use proceeds from capital divestments from HCMC-owned enterprises or 50% of revenues from transport fees and penalties for traffic violations to invest in infrastructure projects.

Thanks to the extra funding, the city will accelerate work on urgent projects like a road running in parallel with HCMC-Long Thanh-Dau Giay Expressway, Ring Road No.2, Binh Tien Bridge, Nguyen Huu Tho Street expansion, four steel bridges on Le Van Luong Street, Nguyen Khoai Bridge, Thu Thiem 2, 3 and 4 bridges, and Mien Dong and Mien Tay coach stations.

The city will push contractors to finish several urgent projects this year, especially those designed to reduce traffic congestion around Tan Son Nhat International Airport like Cong Hoa Street upgrade and Hoang Hoa Tham Street expansion, and around Cat Lai Port like My Thuy Intersection and Ring Road No.2 upgrade.

According to the HCMC Department of Transport, there were only four of 37 congestion hotspots cleared last year.

Land used for infrastructure development increased by nearly 85 hectares compared to 2016, but only 41.6 kilometers of new road was built, equivalent to 1% of the city’s total road length.

The increasing number of vehicles has made city traffic congestion worse, especially around Tan Son Nhat International Airport, Cat Lai Port, central business districts and the city’s gateways at rush hour.

 

 

Source: SGT

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