10:30 | 12/04/2018 Investment
(VEN) - France currently ranks 17th among the nations and territories investing in Ho Chi Minh City, with 220 projects. During a recent visit to Ho Chi Minh City, a delegation of French companies held out prospects of investing in the field of urban transport and railways.
Calling for investment
According to the Ho Chi Minh City Department of Transport, the city will build eight metro lines along 220km at an investment of about US$25 billion, six bus rapid transit (BRT) routes along 100km at a total investment of nearly US$1 billion, and three tramway or monorail routes.
Ho Chi Minh City is studying its need for investments in the following projects:
- The second stage of Route No. 5 from Can Giuoc New Bus Station to Saigon Bridge; - Route No. 2 from Ben Thanh to Thu Thiem and Tham Luong-Tay Ninh Bus Station-North West Urban Center (Cu Chi District); - Route No. 3a from Ben Thanh to Tan Kien; Route No. 6 from Ba Queo to Phu Lam Roundabout; - Monorail Route No. 2 from National Highway No. 50 to Binh Quoi Urban Area.
Tran Vinh Tuyen, deputy chairman of the Ho Chi Minh City People’s Committee, said France currently ranks 17th among the nations and territories investing in Ho Chi Minh City with 220 projects, which does not match the Vietnam-France time-honored political and cultural relations. Therefore, the attention of French companies to transport development, smart city building, flood control, wastewater treatment, healthcare and education opens up cooperation prospects in the future. Ho Chi Minh City will create the best favorable conditions for French companies to expand investment in the city.
French Consul General to Ho Chi Minh City Vincent Floreani affirmed transport development is an important and typical area of cooperation in the France-Vietnam strategic partnership. He also thanked the city for its assistance to French businesses in implementing several sub-projects of the Metro Line 1 project as well as other waterway and aviation projects in the city.
At the working session between Vietnamese officials and the visiting French delegation, French companies introduced techniques, services, machinery and equipment used in the field of urban transport. They voiced their wish to cooperate with Ho Chi Minh City in component projects of the metro line and urban railway projects.
2018 marks the 45th anniversary of diplomatic ties and five years of the strategic partnership between Vietnam and France.