HCMC breaks ground on Metro Line 2, adopts advanced European technology
The Ho Chi Minh City People's Committee on Thursday broke ground on the Metro Line 2 (Ben Thanh-Tham Luong), a long-delayed urban rail project, as the city steps up efforts to modernize public transport using advanced European technology.
The Ben Thanh-Tham Luong line, with a total investment of more than 55 trillion ($2.09 billion), is positioned as a key northwestern axis of the city’s urban rail network, connecting the central business district with densely populated districts to the northwest.
The starting point is Ben Thanh Station - the central interchange of HCMC’s metro system.
The project is one of the city’s largest and most technically complex transport infrastructure developments, running largely underground through high-density urban areas.
It is also among the first projects to be implemented under special mechanisms introduced by the National Assembly’s Resolution 188/2025, which links transport infrastructure development with transit-oriented urban restructuring.
Các đại biểu thực hiện nghi thức bấm nút khởi công dự án tuyến Metro số 2. Ảnh: UBND TP.HCM
In its first phase, the Ben Thanh-Tham Luong section will span about 11.3 km, including 9.3 km underground and 2 km elevated. The line will feature 10 underground stations, one elevated station, and a depot. The project will be financed entirely by the city’s budget.
At Ben Thanh Station (in the former District 1), Metro Line 1 connects to the eastern area and Suoi Tien Bus Station, while Metro Line 2 will open a connection axis to Tham Luong (in the former District 12) and in the future will form strategic routes to Can Gio and Long Thanh International Airport (in neighboring Dong Nai province).
Phan Cong Bang, head of the city’s Urban Railway Management Authority (MAUR), said the technology selected for Metro Line 2 meets European standards and is considered advanced, modern and widely applicable.
The approach aims to ensure system-wide compatibility, avoid technology conflicts between metro lines, and create a unified foundation for the future expansion of the network. The project also includes a roadmap for gradual localization during construction, rolling stock investment and operations, he added.
The Ben Thanh-Tham Luong line has a total investment of more than 55 trillion ($2.09 billion), with completion targeted for the fourth quarter of 2030.
During implementation, alongside workforce training and technology transfer, Vietnam’s domestic capabilities in urban rail development are expected to improve progressively, city officials said.
Speaking at the ceremony, HCMC Vice Chairman Bui Xuan Cuong said the timing of the groundbreaking was particularly significant, as land clearance has been completed and project funding has been fully secured under the city’s medium-term budget plan for 2026-2030.
He added that the application of special policy mechanisms has helped resolve long-standing bottlenecks related to investment procedures, funding sources, design standards, and contractor selection, paving the way for faster implementation.
Metro Line 2 comprises two sections: Ben Thanh-Tham Luong and Ben Thanh-Thu Thiem. While construction has begun on the former, conglomerate Thaco has proposed investing in the latter to connect with Long Thanh International Airport via an additional urban rail link between Thu Thiem and Long Thanh.
Under the original plan, Metro Line 2 was scheduled to start construction in 2014 and be completed within four years, with an initial budget of VND26.12 trillion ($994 million).
In November 2019, the city revised the timeline to 2018-2026 and raised total investment to nearly VND47.9 trillion, citing delays caused by land clearance issues.
In October 2023, authorities approved a further adjustment, setting the operational launch for the line by the end of 2030, followed by two years for defect rectification and warranty works through 2032.
Following its merger with Binh Duong and Ba Ria-Vung Tau provinces, HCMC has outlined an ambitious urban rail development plan for 2026-2035, targeting the construction of nine metro lines from late 2027 and completion of 355 km of urban rail by 2035, including Metro Line 2, with total investment estimated at $44 billion.
- Read More
Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing
Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.
Companies - Thu, July 9, 2026 | 3:51 pm GMT+7
Idemitsu Kosan expands energy ecosystem in Vietnam
After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.
Industries - Thu, July 9, 2026 | 1:43 pm GMT+7
Two banks to list on Ho Chi Minh City bourse, expand charter capital
Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.
Banking - Thu, July 9, 2026 | 11:51 am GMT+7
Strong Q2 earnings, lower interest rates to bolster Vietnam stocks
Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.
Finance - Thu, July 9, 2026 | 8:00 am GMT+7
Wistron raises construction, equipment investment in northern Vietnam province to $178 mln
Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.
Industries - Wed, July 8, 2026 | 7:56 pm GMT+7
Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year
Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.
Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7
Vietnam raises airport number target to 36 by 2030 as aviation demand surges
Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.
Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7
Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam
Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.
Industries - Wed, July 8, 2026 | 4:25 pm GMT+7
Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport
Vietnam’s Minister of Public Security Luong Tam Quang has called on Japan’s Yamato Holdings to assess investment opportunities in warehousing and cargo transport systems at Gia Binh International Airport, while exploring potential cooperation and operational models with Vietnamese partners once the facility becomes operational.
Infrastructure - Wed, July 8, 2026 | 3:09 pm GMT+7
Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve
Vietnam's real estate M&A market continued to attract foreign capital in the first half of 2026 despite persistent global economic uncertainties, but foreign investors are increasingly targeting assets with clear legal status, stable cash flow, and strong operational performance, with data centers emerging as a key growth segment.
Real Estate - Wed, July 8, 2026 | 1:38 pm GMT+7
Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital
The Vietnam International Financial Center, located in the central city of Danang (VIFC Danang), plans to tokenize nearly $4 billion worth of infrastructure projects as part of a strategy to attract more global capital.
Economy - Wed, July 8, 2026 | 12:17 pm GMT+7
Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms
Rising memory chip prices driven by artificial intelligence are spreading from semiconductor manufacturers to consumer electronics brands such as Apple, Dell and ASUS, pushing up the prices of computers and smartphones.
Companies - Wed, July 8, 2026 | 8:00 am GMT+7
LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam
South Korea's LG Innotek will spend $1 billion to build a semiconductor package substrate manufacturing plant in Hai Phong city, with mass production scheduled to begin in the third quarter of 2028, according to local authorities.
Industries - Tue, July 7, 2026 | 11:13 pm GMT+7
Malaysia’s JLand eyes up to $6 bln high-tech hub in Hanoi
Malaysia’s JLand Group has proposed developing a high-tech, innovation and data center complex in Hanoi with an estimated investment of $4-6 billion, as Vietnam’s capital seeks to attract technology projects and strengthen its digital infrastructure.
Infrastructure - Tue, July 7, 2026 | 4:26 pm GMT+7
PVOIL approves $600 mln crude supply plan for Nghi Son refinery
PVOIL, a subsidiary of state-owned Petrovietnam, has approved transactions worth an estimated $600 million to supply crude oil to the Nghi Son Refinery and Petrochemical complex during the second half of 2026, as the country’s largest refinery broadens its feedstock sources beyond its traditional Kuwaiti supply.
Companies - Tue, July 7, 2026 | 1:33 pm GMT+7
F88 wins two international awards for customer-centric growth strategy
F88, a major Vietnamese financial services company, has received two international awards from the Asian Banking & Finance (ABF), a Singapore-based publication, recognizing its initiatives in customer experience and service innovation.
Companies - Tue, July 7, 2026 | 12:42 pm GMT+7




















