Ho Chi Minh City needs around VND100 trillion ($4.2 billion) to implement 120 anti-flooding projects in the 2021-2025 period, according to the municipal Department of Construction.

However, only VND17.4 trillion ($734 million) has been allocated to such projects.

The shortage of capital has hindered the city’s efforts in flood prevention and control.

The department said many anti-flooding projects have yet to be implemented. A lack of capital is the greatest obstacle causing delays in projects, affecting the efficiency of the city’s anti-flooding system.

It is difficult to call for investment in water drainage and anti-flooding projects, meanwhile, as there is no investment attraction mechanism.

Some experts have suggested that the city have a special and effective mechanism to attract investment from different sources for urban projects.