"We've been too slow lately; in 15 years we've only managed to complete one line, and it's not even commercially operational yet. Ho Chi Minh City still has seven more lines to go, and if we continue at this pace, it will take another 100 years to finish," Mr. Dung said.
Metro Line 1 (Ben Thanh - Suoi Tien) undergoes trial run.
According to the Minister, Ho Chi Minh City could propose borrowing a separate, independent loan, managing it itself and repaying it itself, which would be faster. Most importantly, it should be able to utilize underground and above-ground spaces according to the TOD (Transit-Oriented Development) model. Underground and above-ground spaces are valuable assets, so there's no fear of not being able to repay the debt.
"Ho Chi Minh City could borrow 30 billion USD, working for 10-15 years to exploit resources and solve traffic problems. Not to mention, effectively utilizing underground space and moving many activities underground would also solve environmental pollution problems," he said, adding:
"Ho Chi Minh City needs stronger, bolder, and more decisive policies. We will work with ministries and agencies to coordinate with the city in developing policy mechanisms for early implementation," the Minister of Planning and Investment added.
Addressing specific issues, Prime Minister Pham Minh Chinh agreed with the need to develop a comprehensive plan for the development of Ho Chi Minh City's urban railway system, based on which large capital resources should be mobilized to complete it, rather than tackling individual small projects piecemeal.
According to the explanation, the overall plan will help shorten the process, reduce wasted time, and streamline administrative procedures. The Prime Minister shared that during a recent meeting with the President of the World Bank, both sides agreed on this approach to turn the situation around. "For example, with the 200 km urban railway in Ho Chi Minh City, building it section by section, line by line, would be time-consuming due to administrative procedures and lack a comprehensive, overarching plan," the Prime Minister emphasized.
According to the plan, Ho Chi Minh City will have 8 urban railway lines and 3 surface tram or monorail lines with a total length of approximately 220 km and an estimated total investment of over 25 billion USD. However, to date, Ho Chi Minh City only has Line 1 (Ben Thanh - Suoi Tien), 19.7 km long, expected to be completed by the end of 2023, and Line 2 (Ben Thanh - Tham Luong), scheduled to start construction in 2024 and be completed in 2032. The other lines are still only in the investment preparation and investment attraction stages.
Meanwhile, the Politburo 's Conclusion 49 of 2023 sets the goal of completing the urban railway network in Ho Chi Minh City by 2035. The Party Committee of the People's Committee of Ho Chi Minh City assesses that completing 200 km of urban railway within the next 12 years is a very ambitious goal, and continuing with the same approach as the past 20 years would be impossible. Therefore, the Party Committee of the People's Committee of Ho Chi Minh City is seeking the opinion of the Standing Committee of the City Party Committee and the Executive Committee of the City Party Committee to approve the development of a plan for the urban railway system to concretize the goal set out in the Politburo's Conclusion 49 of 2023.
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