At the end of March, the construction site from Pham Van Dong Avenue to Go Dua intersection (Thu Duc City) was still quiet.
This is the third section of Ho Chi Minh City Ring Road 2, constructed since 2017 under the BT (build - transfer) form with a total capital of more than VND 2,700 billion.
However, the project has been stalled since 2020, when only nearly half of the work was completed.
This area is currently abandoned, many unfinished construction items are abandoned. The residential trails are covered with weeds, the large drainage culverts are lying around, and the steel is rusty.
The two branches of the bridge near the Go Dua intersection have just completed the rough construction but are still standing. Some areas are also used for livestock farming.
The main reason for the project's stagnation is the difficulty in signing contract appendices and paying land funds to investors.
Although the Ho Chi Minh City People's Committee has approved an adjustment to the feasibility study report, delaying the completion time to 2026, the legal procedures have not been resolved, causing the project to not be able to be restarted.
Van Phu Bac Ai Joint Stock Company - the project investor - said it has spent more than VND 1,474 billion (excluding interest) to carry out site clearance and construction. Currently, interest expenses arise at about 15 billion VND per month, causing great financial pressure.
Ho Chi Minh City has reported to the Prime Minister, proposing to carry out procedures for preparing, appraising and approving adjustments to the feasibility study report (including the project's financial plan). This is to have a basis for payment to investors and soon restart the project.
In addition to section 3, three other sections with a total length of 11 km are being accelerated to close.
It is expected that in September 2025, Ho Chi Minh City will start construction on two sections in Thu Duc City: the section from Phu Huu Bridge to Vo Nguyen Giap Street (3.5 km); the section from Vo Nguyen Giap Street to Pham Van Dong (2.8 km).
The total investment for these two sections is more than VND13,800 billion, of which the cost of site clearance accounts for about VND7,500 billion.
Thu Duc City has paid more than VND3,000 billion and is expected to complete compensation and hand over the site in the second quarter of 2025. These two sections are expected to be completed in 2027.
When completed, along with section 3, these routes will create a seamless traffic axis, closing the East Ring Road 2 of Ho Chi Minh City.
Currently, the entire Ho Chi Minh City Ring Road 2 route only has the final section from National Highway 1 to Nguyen Van Linh Street (5.3 km) that has not been approved for investment.
It is expected that this section will have a total investment of about VND 16,400 billion and will be implemented before 2030.
This week, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc is expected to inspect the Ring Road 2 project (from Binh Thai intersection to Go Dua intersection) to remove obstacles and speed up the completion progress.
Planned since 2007, Ho Chi Minh City Ring Road 2 is an important route to help divert traffic, reducing pressure on the inner city.
The route starts from Nguyen Van Linh Street (Binh Chanh District), passes Phu My Bridge (District 7), goes to Binh Thai Intersection, connects to Go Dua Intersection. From here, the route runs along National Highway 1 to Nguyen Van Linh, forming a circle around Ho Chi Minh City.
Previously, 50 km of Ring Road 2 was completed with a scale of 6 - 12 lanes, including the following sections: National Highway 1 from Go Dua to An Lac (27 km); Nguyen Van Linh Street (12.4 km); Vo Chi Cong Street from A Phu My Hung Area to Phu Huu Bridge (11 km).
