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HCM City needs $13 billion for infrastructure works

Update: July, 19/2012 - 10:38

HCM CITY — The HCM City Department of Planning and Investment is eyeing access to ODA and other funds for building 19 roads at a cost of nearly US$13.5 billion, and wants Ministryof Planning and Investment to intercede with the Government on its behalf.

Thai Van Re, director of the department, said for BOT (build-operate-transfer), BTO (build-transfer-operate), and BT (build-transfer) projects, the city wants the right to award bids.

In case of urgent public projects, especially ones to streamline traffic and prevent flooding, the city wants permission to go ahead with them even if it means ignoring regulations like having investment licences issued before December 31, 2011, and spending approval received.-VNS

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