Sunday, 09 July 2017 06:00

    PM speeds up City metro work

    Written by
    Rate this item
    (0 votes)

    The total investment for Metro Line No 1 in HCM City after three adjustments has increased from VNĐ14.415 trillion ($631 million) to VNĐ47.325 trillion ($2.07 billion). The PM has agreed to advance ODA capital for the project. — VNS Photo Bồ Xuân Hiệp
    Prime Minister Nguyễn Xuân Phúc has agreed to advance Official Development Assistance (ODA) capital for the Metro Line No 1 Bến Thành – Suối Tiên to meet the project’s schedule.

    The Government Office on Thursday issued a document to announce the decision he had made at a recent meeting with HCM City leaders on the city’s socio-economic development.

    He agreed to advance funds to implement the metro project under a public investment plan for 2016-20.

    The PM also asked the Ministry of Planning and Investment (MPI) to work with the Ministry of Finance (MoF) to propose solutions to accelerate disbursement of ODA projects in the city and report to the PM before August 15.

    He assigned the MPI to ensure that the HCM City government follows regulations concerning the Metro Line No 1 project.

    The 19.7-kilometre Bến Thành-Suối Tiên Line goes through districts 1, Bình Thạnh, 2, Thủ Đức and 9, and ends in Bình Dương Province. 

    The total investment after three adjustments has increased from VNĐ14.415 trillion (US$631 million) to VNĐ47.325 trillion ($2.07 billion). It is still short of capital.

    The metro line is expected to begin test runs in 2019 and be put into operation in 2020.

    To receive an additional loan of EUR200 million ($228.37 million) from the German Reconstruction Bank to implement the Metro Line No 2, the PM has agreed to assign the MPI to instruct the city People’s Committee to follow regulations and report to the PM before August 15.

    In addition, the PM has agreed in principle to support VNĐ9.96 trillion ($438.15 million) to invest in anti-flooding projects in HCM City.

    The PM assigned the MPI and MoF to guide the city People’s Committee and report to the PM by the end of this month on these projects.

    As for accelerating the Thủ Thiêm New Urban Area project, the PM agreed to permit the city People’s Committee to appoint investors to build an exhibition centre complex in the Thủ Thiêm New Urban Area.

    The PM also approved an additional four bridges as well as works to dredge canals and dig a central lake in the Thủ Thiêm New Urban Area project under the BT (Build-Transfer) investment mode.

    Speaking at the meeting, PM Nguyễn Xuân Phúc urged HCM City to continue to improve its business investment environment, enhancing competitiveness.

    “The city must play a leading role in administrative reform and one-stop shop policy. It must be among the five localities in the country with the highest competitiveness index and one of the most attractive destinations for foreign investment,” Phúc said.

    Along with Hà Nội, HCM City should be a pioneer in becoming a national centre for business start-ups and an international centre for education and health, he added.

    The city should also seek long-term solutions to water drainage and flood control, and  promote regional linkages with other localities, he urged.

    The PM also asked the city to submit a long-term anti-flooding proposal to the government by next yea

    Read more at http://vietnamnews.vn/society/379752/pm-speeds-up-city-metro-work.html#EUf3A2D5T4f2VFoh.99

    Read 15 times Last modified on Sunday, 09 July 2017 21:15

    Leave a comment

    Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

    Most popular...

    • Uber must pay tax for drivers in Vietnam: finance ministry
      Uber must pay tax for drivers in Vietnam: finance ministry


      The Netherlands-based Uber BV will have to pay taxes owed both by itself and its drivers, the Vietnamese finance ministry has decided.
      Uber BV issues invoices for rides and handles revenues in Vietnam, but pays no taxes.
      According to the decision, the taxi hailing company will have to authorize its subsidiary in Vietnam or a third party to declare and pay those taxes.

      Written on Friday, 07 July 2017 06:00 in Business Be the first to comment! Read 18 times Read more...
    • PM speeds up City metro work
      PM speeds up City metro work

      The total investment for Metro Line No 1 in HCM City after three adjustments has increased from VNĐ14.415 trillion ($631 million) to VNĐ47.325 trillion ($2.07 billion). The PM has agreed to advance ODA capital for the project. — VNS Photo Bồ Xuân Hiệp
      Prime Minister Nguyễn Xuân Phúc has agreed to advance Official Development Assistance (ODA) capital for the Metro Line No 1 Bến Thành – Suối Tiên to meet the project’s schedule.

      Written on Sunday, 09 July 2017 06:00 in Infrastructure Be the first to comment! Read 16 times Read more...
    • Vietnamese software firms consider Japan as the major market
      Vietnamese software firms consider Japan as the major market

      The Japanese software market is really attractive in the eyes of Vietnamese software outsourcing firms, but Vietnamese firms always have to struggle to penetrate the lucrative market. According to Vinasa (Vietnam Software and IT Service Association), up to 80 percent of Vietnamese firms consider Japan as the core market when doing the outsourcing for foreign partners. Of these, only five percent of businesses has been exploiting the Japanese market, 20 percent of businesses consider Japan as the main market, and 55 percent consider Japan as one of their main markets.

      Written on Friday, 07 July 2017 06:00 in Business Be the first to comment! Read 15 times Read more...
    • Vietnam Renews India Oil Deal in Tense South China Sea
      Vietnam Renews India Oil Deal in Tense South China Sea

      Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region.
      The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes.
      Vietnam granted Indian oil firm ONGC Videsh a two-year extension to explore oil block 128 in a letter that arrived earlier this week, the state-run company's managing director Narendra K. Verma told Reuters.
      Part of that block is in the U-shaped 'nine-dash line' which marks the vast area that China claims in the sea, a route for more than $5 trillion in trade each year in which the Philippines, Brunei, Malaysia and Taiwan also have claims.

      Written on Sunday, 09 July 2017 06:00 in Business Be the first to comment! Read 15 times Read more...
    • Victor Vũ’s new movie set in Quảng Bình
      Victor Vũ’s new movie set in Quảng Bình

      QUẢNG BÌNH — A large part of the movie Người Bất Tử (The Immortal), directed by Vietnamese American director Victor Vũ, will be shot in the magnificent caves of Quảng Bình Province.

      The Vietnamese movie, scheduled to be released in 2018, will be filmed in 52 days in Hà Nội; the central provinces of Hà Nam, Hưng Yên and Quảng Bình; HCM City; and the southern provinces of Tiền Giang and Đồng Nai, revealed production director Trần Thị Bích Ngọc.

      The footage filmed in central province of Quảng Bình will make up around 70 per cent of the movie. It will be shot in several caves including Phong Nha and Tú Làn, Đồng Hới City and Quy Đạt, Bố Trạch and Tuyên Hóa districts, capturing the scenic landscapes and the beauty of the cave system in Quảng Bình.

      Written on Sunday, 09 July 2017 06:00 in Culture Be the first to comment! Read 14 times Read more...

    Search

    © 2017 Eyes on Vietnam. All Rights Reserved. Designed By Lennart

    Please publish modules in offcanvas position.