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HCMC to establish Project Development Fund

Released at: 17:33, 31/05/2017

HCMC to establish Project Development Fund

Illustrative image (Source: baoxaydung.com.vn)

City's People's Committee gives green light to Fund, which will research and prepare for public-private partnerships.

by My Van

The Ho Chi Minh City People’s Committee has approved the establishment of a Project Development Fund (PDF).

The PDF will be established to research and prepare for public-private partnership (PPP) investment projects in the city. The city had 200 existing PPP projects as at March, with total investment of VND100 trillion ($4.4 billion).

Twenty PPP projects have completed contracting and are being implemented, with total investment of VND67 trillion ($2.94 billion), primarily in the field of transportation and the environment.

There are also 105 other projects in the process of studying and preparing proposals, selecting investors, negotiating the signing of project contracts, and securing investment registration, with total investment of VND356 trillion ($15.67 billion), in the fields of transportation, seaports, the environment, apartment blocks, urban upgrades, services, education, healthcare, culture, and sport.

The city also has some 100 PPP projects calling for investment, in transportation, the environment, healthcare, culture, and education, with investment totaling VND130 trillion ($5.7 billion).

Projects include the relocation of households living in District 8 (with investment estimated VND13 trillion ($572.19 million)), Provincial Road No.15 from Xang Bridge to Ben Nay Bridge (VND3.1 trillion ($136.4 million)), and a multi-functional training complex combined with a guesthouse for experts and hotels in District 11 (VND2 trillion ($88.03 million)).

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