Leaders of HCM City, Long An, Bình Dương, and Đồng Nai sign a plan to coordinate the implementation of the Ring Belt Road No.3 project. Photo: Tuoitre.vn

HCM CITY — The HCM City’s People Committee held a conference on Saturday with the participation of leaders from Đồng Nai, Bình Dương and Long An to discuss construction plan of the Ring Belt Road No.3 in HCM City. 

The Ring Road 3 will have a total length of about 76.34 km, with 47.51 km in HCM City (passing through Thủ Đức City and the districts of Củ Chi, Hóc Môn and Bình Chánh) and 11.26 km in Đồng Nai Province (passing through Nhơn Trạch District); 10.76 km in Bình Dương Province (passing through the cities of Dĩ An, Thủ Dầu Một and Thuận An) and 6.81 km in Long An Province (passing through Bến Lức District).

At the conference, leaders of the four localities signed regulations and plans to ensure the progress of the project. 

Under the project, the belt road will have six lanes designed for speeds of 80-100 km/h for commuting and two lanes for emergency stops.

Its total investment is estimated at VNĐ75.4 trillion (US$3.2 billion). It is expected that the entire project will be completed in 2026.

The capital source for implementing the Ring Road 3 is allocated from the State budget. Accordingly, the central budget will allocate 50 per cent, and the localities of HCM City, Đồng Nai, Long An and Bình Dương are responsible for the other half.

According to Chairman of the HCMC People’s Committee Phan Văn Mãi, the investment in Ring Belt No.3 is significant and needs to be implemented immediately

The construction project of Ring Belt No.3 is expected by HCM City and neighbouring localities to contribute to the development of the Southern Key Economic Region in particular and the country generally.

In addition, the Ring Belt No.3  is expected to boost connectivity among industrial parks, ports, logistics services, and airports along with easing congestion and developing urban areas.

In particular, the connection with five radial highways - HCM City-Trung Lương, HCM City-Mộc Bài, HCM City-Chơn Thành, Long Thành-Dầu Giây and Bến Lức-Long Thành - will contribute to facilitating inter-regional connectivity.

Occupying 9.2 per cent of the country's total area, the southern economic region’s gross domestic product (GDP) accounted for 45 per cent of the country's total GDP and donated more than 42 per cent to State budget revenue collection. The region has four localities with a high budget retention rate, including HCM City, Bình Dương, Bà Rịa-Vũng Tàu and Đồng Nai. 

The new road will also help alleviate traffic congestion, which is considered a barrier to local economic development. — VNS