Want to be in the loop?
subscribe to
our notification
Business News
KEY PROJECTS TO CLEAR CONGESTION ON ROADS LEADING TO PORTS IN HCM CITY
The HCM City Department of Transport has asked the city government to give priority in the next five years to six key transport projects worth VNĐ27.488 trillion (US$1.19 billion) in order to clear congestion on roads leading to ports, especially Cát Lái Port in District 2.
Under the public investment plan for the 2021-2025 period, of the six projects, three are being developed, including the Mỹ Thủy intersection project and the other two under the Ring Road 2 project.
The three newly proposed projects would include one to build a six-lane 6.7km-long and 60-metre wide North - South road (section from Nguyễn Văn Linh Road - Bà Chiêm Bridge), with total investment of VNĐ7.013 trillion.
The other two include a project to build the eastern belt route from Phú Mỹ bridge to Mỹ Thủy intersection (in Thủ Đức new City), with an investment of more than VNĐ1.2 trillion.
Another project involves building an eastern ring road from Mỹ Thủy intersection to Nguyễn Duy Trinh - Ring Road 2 intersection, expected to cost more than VNĐ1 trillion.
These newly proposed projects will improve the connection between the Hiệp Phước Port in Nhà Bè District and Cát Lái Port in District 2.
The department said the city should consider suspending or extending completion of projects that have been approved for 2016-2020 period but are not urgent.
Port congestion
Trần Quang Lâm, director of the Department of Transport, said it was important to address the traffic jams on roads leading to Cát Lái Port in District 2, especially Nguyễn Thị Định Street and the Mỹ Thủy intersection.
The city’s seaports extend through districts 2, 4, 7, 9 and Nhà Bè, he said.
Most roads connected to Cát Lái and Hiệp Phước ports are seriously overloaded, including Nguyễn Thị Định, Nguyễn Duy Trinh and Nguyễn Hữu Thọ roads, he added.
Ports located in the city centre, such as Cát Lái, Tân Thuận, Hiệp Phước and Phước Long ports, lack dedicated roads.
Architect Võ Kim Cương, former deputy chief architect of HCM City, said that Hiệp Phước and Cát Lái ports are the city’s largest ports, which face serious congestion. It is important to accelerate the closure of Ring Road 2 to clear congestion near the Cát Lái port area.
Dr Nguyễn Bá Hoàng, vice rector of the HCM City University of Transport, said that rail and water transport connected to the ports should be developed to increase the capacity of freight transport and reduce costs.
It is also vital to close the ring road system and build dedicated railways to Cái Mép and Cát Lái ports.
In a related matter, the city will continue to move its ports to city outskirts to ease congestion on roads as well as build new ones under a national port master plan for 2020-2030.
Cát Lái Port, situated in the eastern gateway, has long been a traffic congestion hotspot with an average of 16,000-17,000 trucks making trips to it daily.
According to the city Maritime Port Administration, between 19,000 and 20,000 trucks each day enter and leave Cát Lái Port through Võ Chí Công, Nguyễn Thị Định and Đồng Văn Cống roads.
There are times when 26,000 vehicles are going in and out the port a day, causing traffic jams in the port area.
Source: VIR
Related News
CUSTOMS BUDGET REVENUE EXPERIENCES 3% DECLINE IN Q1
Vietnam’s import and export value reached a total of US$145.59 billion in the first quarter (Q1) of 2024, marking a year-on-year growth of 18.2%. However, the customs budget revenue saw a 3% year-on-year decline, amounting to VND71,520 billion in the quarter, thereby achieving 19.1% of the full-year target.
RAPID LAW IMPLEMENTATION MAY PROPEL MARKET FORTUNES
“Investors and developers are looking forward to the implementation of the new law, which will remove obstacles for a range of projects that are struggling due to stalled procedures and lack of legality. For them, the earlier the better,” he said.
NATION URGED TO BUILD ON ECO-IP MODEL
Industrial parks (IPs) involved in an initiative that aims to help push them into the realm of being classed as eco-parks have seen improvements across a string of indicators, according to a review event in Ho Chi Minh City last week.
YEN LU INDUSTRIAL PARK: NEW DESTINATION FOR INVESTORS
Bac Giang is a destination chosen by many domestic and foreign investors thanks to its locational advantages and its most opening and favorable investment policies. Assisted by local authorities, Capella Land Joint Stock Company has effectively invested in industrial zones, especially Yen Lu Industrial Park - a new destination for investors, to contribute to the province’s success in investment attraction.
OPTIMIZING LEGAL AND REGULATORY FRAMEWORKS FOR EFFICIENT PUBLIC INVESTMENT DISBURSEMENT
According to the Ministry of Planning and Investment, a 1% increase in public investment raises GDP by 0.058%, and each VND1 disbursed stimulates an extra VND1.61 from the non-state sector. However, plan implementation often falls short at around 80% annually, despite government efforts.
NATION URGED TO BUILD ON ECO-IP MODEL
For the 2020-2024 project, three IPs were selected for the transformation including Deep C Industrial Zones in the northern city of Haiphong, AMATA City Bien Hoa in the southern province of Dong Nai, and Hiep Phuoc IP in Ho Chi Minh City. Over the last four years, the level of compliance with the international framework on eco-IPs for all pilot complexes has increased in terms of environment, economy, and management.