return icon

HCM City to complete many key traffic infrastructure works this year

A number of ongoing traffic projects in HCM City, including bridges and roads, are nearing completion and are expected to be finished by year-end,

 Luong Minh Phuc, head of the city Management Board for Traffic Works Construction and Investment, has said.

The Thu Thiem 2 Bridge between Thu Duc City and District 1 in HCM City is scheduled to open to traffic in April this year. — VNA/VNS Photo Trung Tuyen

They include the Thu Thiem 2 Bridge over the Sai Gon River between the Thu Thiem New Urban Area and District 1, which is expected to cost VND3.1 trillion (US$137 million).

Its construction began in 2015 and was scheduled for completion in 2018, but has been delayed due to land acquisition problems.

It has a length of more than 1.4km and six lanes, and the 886m main section is a cable-stayed bridge with one main tower in the shape of a dragon with a height of 113 metres and facing the Thu Thiem area.

Its main components are completed and the contractor is seeking to speed up work on the District 1 side to ensure the bridge can open to traffic on National Reunification Day, April 30.

The value of real estate in its surrounding areas, especially in Thu Thiem, is expected to rise after the bridge opens.

This year, the city also plans to complete infrastructure for nine land lots measuring 77,600 square metres in functional zone No. 1 in the Thu Thiem New Urban Area at a cost of VND600 billion ($26.5 million).

The work, which started in March 2020, includes six roads around the land lots with a total length of 1.4km, and electricity, lighting, water supply, and drainage systems.

Another project to be completed this year is the new Bung Bridge on Le Trong Tan Street between Tan Phu and Binh Tan districts.

To cost VND515 billion ($22.7 million), construction began in 2017, but has also been delayed for long.

The first branch of the bridge opened to traffic in December last year, and the second is scheduled to open in September 2022.

Another 23 projects are scheduled for completion this year, Phuc said.

They include the widening of Hoang Hoa Tham Street in Phu Nhuan District and Dong Van Cong Street in Thu Duc City, and construction of the Hang Ngoai Bridge in Go Vap District.

Elsewhere, Linh Xuan Park in Thu Duc City and anti-erosion dykes along the Giong Canal-Kinh Lo River in Nha Be District and near the Phuoc Lo Bridge in Nha Be District are also expected to be completed.

Source: Vietnam News

Many super-projects in HCM City fail to meet deadlines

Many super-projects in HCM City fail to meet deadlines

The VND10 trillion tide-prevention project, Subway No 1, Belt Road No 2, and Thu Thiem 2 Bridge are huge projects that have not been completed, even though they kicked off many years ago.

Traffic projects in HCM City need more investment to kick off

Traffic projects in HCM City need more investment to kick off

The government is promoting disbursement of public investment, considering it one of the driving forces to boost the pandemic-hit economy.


Curbing inflation: the optimal goal of monetary and fiscal policies

Monetary and fiscal policies have been tightened to fight inflation in Vietnam (though it is among the lowest in the world), instead of aiming to recover production and boost growth, which is needed after several years of pandemic.

Businesses seek capital as banks run out of ‘credit quota’

Businesses in many fields have voiced their concerns about the lack of capital from banks.

Businesses complain about customs procedures, import taxes

Businesses still must visit ministries in Hanoi to complete paperwork, which they consider a big waste of time and money. They are also concerned about high import taxes.

Vietnam contributes to International Law Commission

Vietnamese Ambassador Nguyen Hong Thao has pledged to make more contributions to the progress and development of international law, for peace, friendship, cooperation and sustainable development worldwide.

Pencak silat fighter enjoys golden year

Pencak silat fighter Quang Thi Thu Nghia has had amazing year of competition when she has won titles from all competitions that she took part in.

Pop singer to compete at MTV Europe Music Awards

Pop singer Pham Dinh Thai Ngan from HCM City will represent Vietnam at the MTV Europe Music Awards (MTV EMA) 2022.

PM hosts national committee on digital transformation’s third session

Prime Minister Pham Minh Chinh chaired the third meeting of the National Committee on Digital Transformation on August 8 to assess digital transformation pace during the first half of 2022 and devise tasks for the time ahead.

Liem to face off against chess king Carlsen at FTX Crypto Cup

Vietnam’s leading chess player Le Quang Liem has revealed that he will take on Norwegian chess king Magnus Carlsen at the FTX Crypto Cup which is scheduled to take place in Miami, USA, from August 15 to August 21.

Vietnam ranks third overall at ASEAN Para Games 2022

Vietnamese athletes bagged seven more gold medals on August 5, the last competition day of the ASEAN Para Games 2022, retaining their third place in the medal tally.

Corporate bond market struggling with challenges

The size of the corporate bond market is estimated at some VND1,374 trillion, equivalent to 15% of GDP. The Government aims to raise this figure to 20% by 2025.

President requires greater efforts to promote value of Ngoc Linh ginseng

Ngoc Linh ginseng deserves the "National treasure" title, and it is necessary to strongly promote the role of this treasure in improving people's livelihoods, President Nguyen Xuan Phuc said .

EVFTA outpaces CPTPP in preference utilisation rate

The utilisation rate of tax incentives set out in the EU-Vietnam Free Trade Agreement (EVFTA) during Q1 soared by over 32%, representing a four-fold rise compared to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Refusal to issue visas to new VN passport causes problems for travel firms

The rejection of Vietnam’s new passport by some EU member countries is affecting HCM City tourism companies since their customers are unable to travel to those countries.

Vietnam set to scrap COVID quarantine for imported processed seafood

The Ministry of Agriculture and Rural Development has removed COVID-related quarantine requirements for frozen processed seafood products imported for the purpose of reprocessing for export.

HCM City seeks to boost technology transfer from universities

Huynh Kim Tuoc, managing director of Sai Gon Innovation Hub's (SiHub) Start-up Support Centre under the HCM City Department of Science and Technology, affirmed Vietnam holds tremendous potential for technology development