Investment

The Ho Chi Minh City People’s Council on October 11 approved ten important resolutions to promote the city’s socio-economic development in 2022 and the 2021-2025 period, including a resolution on adjusting public investment capital in 2022. This would increase public investment by VND415 billion ($17.42 million) this year and cut VND486 billion ($20.4 million) from ODA loans for the city’s Green Traffic Development Project.

Progress at two metro projects in Ho Chi Minh City has been slow and both have now sought delays. The completion of Metro Line No. 1, Ben Thanh - Suoi Tien, is now delayed until the fourth quarter of 2023, with the start of construction on Metro Line No. 2, Ben Thanh - Tham Luong, not scheduled as yet and completion now postponed until 2030.

The Lien Ninh new urban area project proposed by the Thanh Tri District People’s Committee has been approved by the Hanoi People’s Committee with a policy of bidding for investor selection. The project has investment of more than VND1.4 trillion ($58.6 million) and sits on 27.7 ha with a population of 4,500.

Evaluating the draft national airport planning, analysts believe there have been miscalculations on passenger forecasts in localities. The evaluation criteria and scoring scale both lack basis, leading to airport rankings exhibiting shortcomings.

The Civil Aviation Authority of Vietnam has released a report on adjusting planning for Lien Khuong Airport in the central highlands’ Lam Dong province’s Da Lat city to 2030 and vision to 2050. It will become an international airport by 2030, with a new T2 terminal built that is capable of handling 5 million passengers a year as well as additional flights.

Construction of the Chan May Port Breakwater in the second phase, with total investment of more than VND750 billion ($31.5 million), began on October 8. Its completion will not only increase cargo handling capacity but also boost the competitiveness of Chan May Port and improve Thua Thien-Hue’s seaport network.