Ho Chi Minh City

HCMC proposes Central to support US$3.7 billion to build Ring Road No.3

SGGP

The Office of the Ho Chi Minh City People’s Committee yesterday said that the Municipal People’s Committee had just reported to the Prime Minister to consider, direct the investment plan of the Ring Road No.3 Project in the city. 
HCMC proposes Central to support US$3.7 billion to build Ring Road No.3  ảnh 1
On the unified basis between the People’s Committee of HCMC and the People’s Committees of the three provinces of Dong Nai, Binh Duong and Long An, the investment of Ring Road No.3 in HCMC in the period of 2021 – 2026 is very necessary.
Amid the huge impact of the Covid-19 pandemic, the localities unified to propose the Central to give financial support for implementing the project with an investment of around VND83,000 billion (nearly US$3.7 billion). Of which, site clearance and investment of parallel roads on the two sides of the ring road will be accounted for over VND52,468 billion (US$2.3 billion) and the remaining amount will be used for the investment of the main route, a four lane expressway.

In case the Central budget allocation is not enough for the proposed costs, the localities proposed the Central to support an amount of around VND47,000 billion (US$2.1 billion) for the site clearance. Regarding the construction, the localities will proactively study the appropriate investment method in accordance with the reality from now to 2026.

Besides, the People’s Committee of Ho Chi Minh City proposed the Prime Minister to assign the Municipal People’s Committee to prepare the investment plan for the Ring Road No.3 Project. Accordingly, HCMC will build and report the project to the Prime Minister to submit it to the National Assembly for approval of the general project investment policy. 

By Quoc Hung- Translated by Huyen Huong

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