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Rail Transport in Hanoi and Ho Chi Minh Set to be 45 Percent of the City’s Total Movement Demand

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2011-07-25 10:00 

 

SINGAPORE, July 25, 2011 /PRNewswire-Asia/ — In 2008, Vietnam’s Prime Minister Nguyen Tan Dung approved plans to invest US$15 billion over the next 12 years for metro railway projects for Hanoi and Ho Chi Minh City, projecting Vietnam onto the global stage as one of the biggest spenders for Urban Rail, but the global economic meltdown made funding a major challenge.

Fast-forward to 2011, it is a different story. The Asian Development Bank has started the ball rolling with a US$1.15 billion loan to the Vietnam government as the Vietnam government is on schedule to begin construction on the Ho Chi Minh City and Hanoi city metro railway lines this year. Is this a sign of more investment to come?

Will the Vietnamese government welcome more foreign investment? Who are the players already involved?

Dr. Luu Xuan Hung, the Vice Director of the Hanoi Metropolitan Rail Transport Board, explains that by the year 2020,the public transport ratio by UMRT in Hanoi and HCM city shall be around 35% – 45% of the city’s total movement demand.

“The government plans to allocate 3.5% – 4.5% of the GDP in their budget, raising the investment rate in transportation infrastructure, and will be looking into mobilizing all possible sources from the economic components. The private sector will be included in the different models for investment in building the transport infrastructure, especially under PPP, BOT, BT & BTO, and Vietnam is expecting investment to come from the local as well as overseas investors,” he said.

Dr. Luu Xuan Hung will share his department’s plans for Urban Rail in Hanoi, and will provide details on the proposed Hanoi Noi Bai airport line, and the role for stakeholders and their search for solution providers at the Metro Rail Vietnam conference, meeting in Hanoi on 23-24 August.

Visit www.metrorailvietnam.com or email maria.andersson@iqpc.com.sg to find out more.

Press and media please contact:

Maria Andersson
Tel: +65-6722-9404
Email: Indre.Riley@iqpc.com.sg

 

SOURCE International Quality & Productivity Centre (IQPC)

Written by asiafreshnews

July 27, 2011 at 2:30 pm

Posted in Business & Finance

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