HCM City is striving to complete about 183 kilometres of six metro routes by 2035.
A station on HCM City’s Metro Line No. 1 between Bến Thành Market in District 1 and Suối Tiên Theme Park in Thủ Đức City. - VNS Photo Nguyễn Diệp
The municipal People's Committee Chairman Phan Văn Mãi chaired a meeting to listen to a report on the city’s urban railway system development project.
The meeting collected opinions from experts of relevant departments and units in accordance with the Politburo's Conclusion No. 49-KL/TW on the development orientation of Việt Nam's railway transport by 2030 with a vision to 2045.
Speaking at the event, Director of the city’s Department of Transport Trần Quang Lâm said the department, in coordination with relevant departments, has created a project to develop the urban railway network in the city by 2035.
Accordingly, the city will complete an additional 168.4km, raising the total length of the six metro routes to more than 351km by 2045.
New routes will be added to the city's master plan to 2040 with a vision to 2060.
By 2060, the city will finish metro lines No. 8, 9, and 10, raising the total length of metro routes to more than 510km. The estimated total investment will be VNĐ824.5 trillion (US$32.3 billion).
Most experts said that the projects need to focus on clarifying investment forms and funding sources, and mobilising financial resources, breakthrough mechanisms and new special policies. Resolution No. 98 is designed to empower the city's development and mechanisms for land recovery, especially financial mechanisms to achieve the project's highest goals, while defining transit-oriented development (TOD) model.
The Department of Transport was asked to collect opinions and send them to the municipal People's Committee on May 15 before submitting them to the Ministry of Transport.
The city’s Department of Planning and Investment is responsible for reviewing and updating the plans synchronously in accordance with the city's general planning.
Meanwhile, the city’s Department of Natural Resources and Environment is assigned to provide specific documents on mechanisms and plans for land recovery and site clearance.
The Department of Finance will conduct detailed research on mechanisms for funding sources and issues related to funding sources.
The city will propose the Government and the National Assembly issue decrees and resolutions to grant authority to the city to carry out the projects.