Logo of Phnom Penh Post newspaper Phnom Penh Post - HCMC seeks developers for nearly 300 PPP projects

HCMC seeks developers for nearly 300 PPP projects

HCMC seeks developers for nearly 300 PPP projects

Ho Chi Minh City is expected to reconsider projects under the public-private partnership (PPP) investment form meant to combat flooding and land subsidence and resettle people living along canals when new regulations for PPP come into effect.

The Vietnamese city has sought private partners for nearly 300 PPP projects, with the Thu Thiem Bridge No 4 being the latest.

Expected to cost 5.2 trillion dong ($2.25 billion), the bridge will connect Districts 2 and 7, easing traffic congestion in the Saigon South Area and boosting the development of the new Thu Thiem urban area.

PPP projects undertaken in the past include the Saigon Bridge and Phu My Bridge, expansion of the Hanoi Expressway and construction of the Tan Son Nhat-Binh Loi belt road, works that have helped smooth traffic and fostered socio-economic development.

City Department of Planning and Investment deputy director Tran Anh Tuan said PPP projects have also helped raise funds from the private sector for infrastructure development.

However, when the new regulations on PPP take effect, the city could face difficulties in raising funds for projects that would not have revenues or are financially infeasible, such as those for preventing flooding, controlling tides, building embankments, and resettling households living along canals or near government offices and cemeteries, he warned.

Besides, it would also be affected by the fact that PPP would not include investments on a build-transfer (BT) basis and would require investment in a project to be a minimum of 200 billion dong.

City People’s Committee deputy chairman Vo Van Hoan said PPP projects are aimed at infrastructure development and use of lands near those projects, but investors prefer lands in inner districts.

That is the reason why city authorities have asked relevant agencies to reconsider PPP projects, he explained.

BT projects whose construction is in progress would continue, he added.

VIET NAM NEWS/ASIA NEWS NETWORK

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Inter-provincial travel ban lifted; Phnom Penh and Takmao not exempted

    The government on April 25 decided to lift the inter-provincial travel ban and the closure of tourist attractions across the country, effectively immediately. The travel ban and closures of all resorts were imposed on April 6 and 17 respectively in a bid to curb the spread of Covid-19,

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a