HCM City approves major projects investments

09:35 | 01/09/2015 Economy

The Ho Chi Minh City People’s Council approved a decision on August 26 to invest in 280 planned projects worth over 62.54 trillion VND (2.8 billion USD) using the municipal budget.

HCM City approves major projects investments

Design of Ben Thanh central station. Source: Baogiaothong.vn

The city also gave the green light to 95 other unplanned budget-funded projects valued at 13 trillion VND (590 million USD).

Additionally, the council passed four projects using the State budget with total investment of over 2.71 billion VND (120,400 USD) as well as five others funded by Government bonds worth over 2.68 trillion VND (119 million USD).

All the projects focus on building infrastructure to serve local residents and the city’s socio-economic development.

According to the council’s Chairwoman Nguyen Thi Quyet Tam, it is necessary for local departments to avoid the sluggish allocation of capital due to lengthy administrative procedures while continuing to build investment criteria for under-30 million VND projects to suit the city’s realities.

The council also approved the clearance of 1,602 hectares of land for 298 projects in 2015, including the metro line No.2, the Ben Thanh central station and the city’s anti-flooding projects./.

Source: VNA

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