return icon Vietnamnet.vn

WB, Switzerland supports HCM City’s new Bus Rapid Transit corridor

On January 15, the WB and Ministry of Finance signed a financing agreement for a grant worth US$10.5 million to promote integrated urban development and transport connectivity along a new Bus Rapid Transit corridor in HCM City.

wb, switzerland supports hcm city’s new bus rapid transit corridor hinh 0

At the signing ceremony

 

 

The grant, provided by the Government of Switzerland through Swiss State Secretariat for Economic Affairs (SECO) and administered by the World Bank, comes as additional financing for the World Bank’s ongoing Ho Chi Minh City Green Transport Development Project that is developing a new Bus Rapid Transit corridor.

This line, with 28 stations stretching along 23 kilometers, would provide reliable mobility service between the city center and its southeast and northwest peripheries.

“The scale-up activities made possible by the additional grant will enhance the development impacts of the new bus system. By promoting integration between transport and urban development and among various transport modes, the new bus system would improve accessibility and mobility for commuters which in turn would draw in more and more riders”, said Ousmane Dione, the World Bank Country Director for Vietnam.

 “The project will demonstrate considerable economic, environmental and social benefits, and guide urban development towards more sustainable patterns in HCMC,” said Ivo Sieber, Ambassador - Designate of Switzerland to Vietnam. The project thus can serve as a blueprint for replication in other cities in Vietnam with similar challenges”, Mr. Ousmane Dione noted.

The grant will help enable integrated and transit-oriented urban development around the new bus corridor.

This will include creating a regulatory framework for transit-oriented urban development and boost private sector investment for such development.

The new corridor can trigger urban renewal and create public spaces around the transit system, where it is scarce.

The grant will also help integrate the bus system with other transport modes, thanks to measures to maximize connectivity and ridership while also providing last-mile connections such as feeder bus services to carry people to and from the nearest bus station along the new line.

The grant will also finance capacity building for transport officials and urban planners.

The ongoing project aims to improve the performance and efficiency of public transport along a high priority corridor in Ho Chi Minh City.

The key economic benefits include reduction in travel times and vehicle operating costs and improvement of traffic safety.

These benefits are estimated to total more than US$120 million over the life of the project. The activities funded under the grant are expected to bring additional benefits in terms of improved livability and sustainability.

This first bus rapid transit line developed in Ho Chi Minh City is financed by an US$124-million credit from the International Development Association of the World Bank, and a US$13.45 million-contribution from the Government of Vietnam. VOV 

Thaco exports Vietnamese branded buses to Philippines

Thaco exports Vietnamese branded buses to Philippines

Truong Hai Auto Corporation (Thaco) held a ceremony in the central coastal province of Quang Nam on December 28 to hand over 15 Vietnamese branded buses for export to the Philippines.

MORE NEWS

Mulan storm heading towards Mong Cai City

The National Center for Hydrology Meteorology Forecasting informed that at 7:00pm August 9, Mulan was located in the Northeast of Paracel Islands, about 290km Southeast of Hainan Island (China).

Building on the ASEAN Community

August 8 marked ASEAN’s 55th anniversary of establishment. Minister of Foreign Affairs Bui Thanh Son writes about the journey of ASEAN development and Vietnam’s contributions to the organisation.

Flight returns to Hanoi with sick Japanese passenger

A flight of national flag carrier Vietnam Airlines had to return to Noi Bai International Airport in Hanoi on Monday while travelling to Japan to save a Japanese boy who suffered from severe nosebleeds.

Vietnam needs skilled workforce to become upper-middle-income economy by 2035: WB

Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named “Taking Stock: Educate to Grow”.

Da Nang launches tourism programme to attract RoK visitors

The Da Nang Department of Tourism has recently organised a special tourism promotion in Seoul aiming to attract a large number of travelers from the Republic of Korea (RoK) to the central city in the post COVID-19 pandemic period.

Vietnamese instant noodles under the microscope in Cambodia

Cambodian authorities will conduct an inspection of instant noodles imported from Vietnam that are alleged to contain banned substances ethylene oxide said to exceed the permit limits set by the EU, according to Vietnam’s Trade Office in Cambodia.

Vietnam sees increasing investment in education: report

Investment in education in Vietnam tended to increase steadily over the past decade, according to a report by the Vietnam National Institute of Educational Sciences (VNIES).

Vietnam's fisheries businesses face export growth slowdown

Enterprises in the fisheries sector are facing an export slowdown after strong shipments in the first months of 2022, which may subsequently affect their growth in the time ahead.

US extends duty evasion investigation into plywood from Vietnam

The US Department of Commerce (DOC) has announced the extension of the deadline for issuing its final conclusion on a trade remedy duty evasion investigation into hardwood plywood imported from Vietnam.

Forest covers 42.02% of Vietnam’s total area by end of 2021

Vietnam had 14,745,201ha of forest area, of which 10,171,757 ha are natural forests and 4,573,444 ha are planted ones, including open canopy forests, as of December 1, 2021.

Da Nang, Finance Ministry top Digital Transformation Index

Da Nang and the Ministry of Finance once again topped the Digital Transformation Index (DTI) rankings for 2021, the Ministry of Information and Telecommunications announced on August 8.

“Da Nang Electronic Carnival” rave to take place on August 13-14

Residents and tourists to the central city of Da Nang are expected to have “sleepless nights” at the “Da Nang Electronic Carnival - Take Me To The Sun” festival scheduled for August 13-14.

Universities with autonomy complain about overlapping legal documents

Leaders of many universities and academies say they face many obstacles implementing the autonomy regime because of inconsistent legal framework.

The rush for 'lucky' numbers on vehicle plates begins in Vietnam

Analysts say that demand for vehicle number plates with numbers that bring good luck is very high.

HCMC draws up plan to prohibit passenger cars from entering inner city

Under a draft plan opened by the HCM City Transport Department for public opinion, the plan on prohibiting passenger cars from entering the inner city will be implemented in two stages.
back_to_top