On July 15, Vice Chairman Duong Ngoc Hai presented the development plan for HCMC's urban railway system to the HCMC People's Council, following the conclusion 49 of the Politburo. If approved, the proposal is expected to be submitted to the National Assembly and the Government by late 2024 or early 2025.

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Vice Chairman Duong Ngoc Hai presenting the proposal for the metro development project. (Photo by Nguyen Hue)

HCMC aims to complete two urban railway lines by 2030, covering 31 kilometers with 24 stations and two depots, requiring approximately 91 trillion VND in investment. By 2035, the city plans to finish six urban railway lines totaling 183 kilometers with 148 stations, demanding over 871.2 trillion VND (more than 34 billion USD).

Looking ahead to 2045, the goal is to construct 351 kilometers of urban railways. By 2060, the entire network of 10 urban railway lines, totaling 510 kilometers, is expected to be completed.

HCMC has proposed 28 specific and exceptional mechanisms to the central government to achieve these objectives, based on experiences and challenges encountered during the implementation of metro projects 1 and 2.

To implement these projects, HCMC will maximize all funding sources, including the state budget, and diversify investment methods. The state budget will play a leading and decisive role in financing the entire urban railway system from now until 2035.

Additional investment will be mobilized from increased budget revenue, urban development revenue following the TOD (Transit-Oriented Development) model, bond issuance, public investment, and targeted support from the central government.

Ho Van