HCM City requires 1 billion USD each year for infrastructure

Ho Chi Minh City needs at least 1 billion USD a year to develop its infrastructure from now to 2015 and is calling for investors into the field.

In such a bid, the municipal authorities organised a conference on Dec. 11 introducing projects in need of investment, including the upgrade of six sections of national highways and the construction of seven inter-region expressways and four urban expressways.

The economic hub also plans to develop six metro routes with 107 km in total length plus three tram routes with 35 km in length and build about 10 waste water treatment plants and several water supply stations.

At the conference, the municipal authorities said investors into infrastructure will be given exemption or reduction in corporate income tax, land lease and import tariffs for equipment and materials used in those projects.

Source: VNA