The Government of Ho Chi Minh City (HCMC) is seeking an additional VND120 trillion in public investment from the Government of Vietnam to speed up the progress of ongoing public infrastructure projects. For the period between 2020 to 2025, the city needs about VND672 trillion of public investment, out of which only 21 per cent has been approved till date.
As of August 2022, only 26 per cent of the yearly target of VND32 trillion in total public investment disbursement has been reached. For projects using official development assistance (ODA), disbursement reached only 8 per cent till August 2022. About 100 public projects are still awaiting funding.
This delay in public investment disbursement is one of the main reasons for considerable delays in major infrastructure projects in HCMC, including the upcoming metro lines, Ring Road Number 3 and other airports and seaports.