HCMC seeks $12 bln private investment for Hoc Mon, Cu Chi districts

Ho Chi Minh City is seeking $12.4 billion in private investment capital for 55 projects in Hoc Mon and Cu Chi districts, mainly involving transport infrastructure development.

Of the total, nearly $12.3 billion will come to 18 infrastructure projects, including the HCMC - Moc Bai expressway, ring roads 3 and 4, elevated road No.5; metro line No.3 connecting Tay Ninh bus station with the Northwest Cu Chi urban area; and expanded Highway 15.

$32.8 million will be invested in 12 urban projects and $80.6 million in two trade-service projects. The remaining is earmarked for three industrial projects, 16 agricultural projects, and four education-culture-sports ones.

At an investment promotion conference chaired by President Nguyen Xuan Phuc on Tuesday, where HCMC authorities called for the investments, Nguyen Thanh Nha, Director of the city’s Department of Planning and Architecture, praised the two districts’ high and flat terrain, natural ecosystems, as well as beautiful and diverse landscapes.

The duo nears Moc Bai international border gate, Dau Tieng lake, and a series of Tan An - Thu Dau Mot - Lai Thieu urban areas. They also has the potential to connect to HCMC’s center in only 30-35 minutes via water transport.

Hoc Mon and Cu Chi are located on the north-south urban development axis, stretching from Truong Chinh street to Cach Mang Thang Tam street, and adjacent to the Saigon river banks. They also near metro line No. 2 connecting An Suong bus station to the Northwest urban area, and the national railway line running from Cu Chi district to Tay Ninh province.

Located in the north - northwest of HCMC, Hoc Mon and Cu Chi districts cover 544 square kilometers or more than 26% of the city’s natural area. They are the gateways connecting the city with Duc Hoa district in Long An province, Trang Bang town in Tay Ninh province, and Thu Dau Mot town in Binh Duong province.

The north-northwest are is being researched as one of HCMC’s key growth directions, according to the city’s adjusted development plan to 2040, with a vision to 2060. Under this, the Northwest urban area was planned to develop into a smart and ecological urban area.