Diagramme of Ring Road No. 4 passing through Bà Rịa - Vũng Tàu, Đồng Nai, Bình Dương, HCM City and Long An. Photo vneconomy.vn

HCM CITY – The HCM City People's Committee proposed to the Prime Minister specific mechanisms and policies that are generally applicable to Ring Road No.4 to speed up the progress of completion and putting into use.

Experts believe that a special mechanism is necessary for provinces and city to accelerate the construction progress of the Ring Road No.4 Project, which will connect the City with the provinces of Bình Dương, Long An, Đồng Nai and Bà Rịa-Vũng Tàu in the Southeast region.

To speed up implementation progress, localities have coordinated with the Ministry of Transport to agree to propose a number of specific mechanisms and policies applicable to the entire route.

One of the outstanding mechanisms is to allow locality to support other locality to carry out public investment activities of projects passing through two localities. Specifically, the case of Thủ Biên Bridge connecting Đồng Nai and Bình Dương provinces.

Regarding capital sources, the central budget will support 50 per cent of capital to implement projects for Bình Dương, Đồng Nai and Bà Rịa - Vũng Tàu provinces. Long An Province alone needs 75 per cent of capital support.

In addition, the project allows the State capital participation rate to not exceed 70 per cent of the total investment.

For Ring Road No.4 section in the City, the Prime Minister will decide on the investment policy.

If the proposals of the City and provinces are accepted by the Prime Minister, the Ring Road No.4 Project will be meet the deadline for groundbreaking in 2025 and completion in 2028.

Ring Road No.4 is an important project contributing to the socio-economic development of the provinces in the Southeast region and the Southern key economic region.

The project connects inter-regional traffic to solve the circulation of goods and reduce logistics costs.

Ring Road No.4 has a total length of about 207km passing through five provinces and city, including Bà Rịa - Vũng Tàu (18.23km), Đồng Nai (45.54km), Bình Dương (47.45km), HCM City (17. 3km) and Long An (78.3km).

The project expected to has six to eight lanes, designed for a speed of 100km per hour.

The first phase of the project is estimated to cost around VNĐ128 trillion (US$5.63 billion). — VNS