Commercial center proposed for underground railway station in HCMC may be able to access ODA capital from Japan.
Deputy Chairman of the Ho Chi Minh City People’s Committee Nguyen Huu Tin and Japan’s Deputy Minister of Land, Transport Infrastructure and Tourism Kisaburo Ishii met on June 10 to discuss cooperation in the construction of the urban railway station and underground commercial center at Ben Thanh Market, in which Japanese investors have expressed an interest.
According to Mr. Tin, the project still faces many difficult issues relating to the investment mode and the investment capital. The City therefore hopes to secure Japan’s cooperation and ODA funding to implement the project.
Mr. Ishii said the commercial center at the station would be a highlight of the City’s development. “Despite the high cost the project would bring a number of benefits and has the potential for high profit,” he said, predicting it would take investors ten to eleven years to see a return on their investment.
Representatives of Japanese investors also presented a model of the project at the meeting.
Mr. Ishii said that the Japanese Government would consider providing ODA loans for the underground commercial centre. If it goes according to plan, he added, construction of the railway station may also receive ODA funding.