On the morning of October 5, National Assembly Chairman Tran Thanh Man - Politburo member, Secretary of the National Assembly Party Delegation - chaired a working session between the National Assembly Party Delegation and the Standing Committee of the Ho Chi Minh City Party Committee.
At the meeting, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai reported on three important projects that Ho Chi Minh City is preparing to submit to the National Assembly in the coming time, including: Ho Chi Minh City Ring Road 4 Project; urban railway system development project; and project to build the Vietnam International Finance Center in Ho Chi Minh City.
Speaking at the meeting, National Assembly Chairman Tran Thanh Man assessed that these three projects and proposals are urgent and objective issues. The National Assembly Party Delegation and the National Assembly Standing Committee are ready to coordinate urgently and regularly.
"We support the policy, but we must note: First, the dossier must be complete according to regulations; second, the legal basis must be clarified; third, the impacts must be carefully and fully assessed," said National Assembly Chairman Tran Thanh Man.
Vice Chairman of the National Assembly Nguyen Khac Dinh emphasized that Ho Chi Minh City should submit all three projects and proposals at the same time to ensure consistency and demonstrate a long-term strategic vision. He said that when the Government and ministries and sectors support, these projects will be quickly submitted to the Politburo for conclusion.
"The International Finance Center will become an important lever, not only promoting Ho Chi Minh City but also creating development momentum for the whole country. Ho Chi Minh City needs to urgently complete it, after having the conclusion from the Politburo, the National Assembly Party Delegation and the National Assembly will quickly implement it" - Mr. Nguyen Khac Dinh noted.
According to Chairman of the Ho Chi Minh City People's Committee Phan Van Mai, the Ring Road 4 project plays an important role in connecting urban areas, industrial parks, seaports and international airports of the Ho Chi Minh City metropolitan area, while helping to reduce traffic pressure for the inner city area.
The route is about 207km long, passing through 5 provinces and cities including Ba Ria - Vung Tau, Dong Nai, Binh Duong, Ho Chi Minh City and Long An.
The total expected investment is 136,593 billion VND, of which the central budget capital accounts for 42,000 billion VND (30.86%), local budget capital accounts for 33,584 billion VND (24.66%) and BOT capital accounts for 60,571 billion VND (44.48%).
Ho Chi Minh City proposed that the National Assembly approve the investment policy for the entire project, especially the section passing through Long An province, and proposed a Resolution on a common mechanism to ensure synchronous and effective project implementation.
The project to develop the urban railway system in Ho Chi Minh City aims to develop about 183km of metro by 2035 and expand another 168km by 2045. By 2060, the city's metro system will be completed with a total length of more than 510km.
To implement this, in the period up to 2035, Ho Chi Minh City needs about VND835,738 billion (USD34.84 billion). In the period from 2036 to 2045, the capital demand is VND627,620 billion (USD26.17 billion) and from 2046 to 2060 it is VND973,714 billion (USD40.61 billion).
Ho Chi Minh City proposed that the National Assembly allocate about 25.6% of central capital to support the city in the period up to 2035, the rest will come from the local budget.
The city also proposed that the National Assembly approve a policy framework to implement metro projects, without needing to approve each project individually, to ensure flexibility.
Ho Chi Minh City also proposed that the National Assembly delegate authority to the Ho Chi Minh City People's Council to decide on investment policies and the Ho Chi Minh City People's Committee to decide on investment projects if capital is mobilized entirely from the local budget, helping the city speed up implementation progress.
The project to build the Vietnam International Financial Center in Ho Chi Minh City includes two main areas: the existing financial district in District 1 and the new financial district in Thu Thiem (Thu Duc City).
These two areas will complement each other, with traditional financial services in District 1 and innovative financial services in Thu Thiem.
This international financial centre will focus on three main components: Money markets and banking systems, capital markets and derivatives markets.
Ho Chi Minh City proposed that the National Assembly approve 10 policy mechanisms focusing on pillar groups to successfully build the International Finance Centre.
