Logo of Phnom Penh Post newspaper Phnom Penh Post - HCMC allowed to make investment decisions for expressway to Cambodia

HCMC allowed to make investment decisions for expressway to Cambodia

Content image - Phnom Penh Post
The 53.5km-long HCMC-Moc Bai Expressway will link Ring Road No 3 in HCMC’s Hoc Mon district with Moc Bai International Border Gate between Vietnam and Cambodia. Photo supplied

HCMC allowed to make investment decisions for expressway to Cambodia

Vietnamese Prime Minister Nguyen Xuan Phuc has approved the Ministry of Transport’s proposal to give Ho Chi Minh City (HCMC) the authority to approve investment policy decisions for the HCMC-Moc Bai Expressway project.

Phuc has asked the people’s committees of HCMC and Tay Ninh province to report to their people’s councils that the HCMC People’s Committee will be in charge of making investment decisions.

The 53.5km-long HCMC-Moc Bai Expressway will link Ring Road No 3 in HCMC’s Hoc Mon district with Moc Bai International Border Gate between Vietnam and Cambodia in Tay Ninh province.

The expressway project will be divided into two investment phases.

Its total capital is estimated at nearly 13.6 trillion dong ($586 million), including cost for site clearance sourced from the state budget.

The first stage will cost 10.7 trillion dong under Public-Private Partnership investment.

Construction is expected to be completed by 2025 with at least four lanes, and will be expanded to six or eight lanes by 2045.

A cooperation agreement between HCMC and Tay Ninh province on the implementation of the HCMC-Moc Bai Expressway project was signed in October last year.

Under the agreement, the HCMC People’s Committee will be in charge of compensation for ground clearance in the city, while the Tay Ninh province People’s Committee will be responsible for compensation in the province.

The two localities plan to complete site clearance and compensation for the affected local residents next year and selection of investors before March next year.

HCMC and Tay Ninh province are among eight provinces and cities in the southern key economic zone.

The expressway is expected to ease traffic congestion and facilitate economic growth in the southern region, especially in industrial parks, export processing zones and the Moc Bai Border Gate Economic Zone in Tay Ninh province.

VIET NAM NEWS/ASIA NEWS NETWORK

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Quarantine site in north Phnom Penh inaugurated

    A four-building quarantine centre in Phnom Penh’s Prek Pnov district was formally inaugurated on January 6. The centre can house up to 500 people, according to Phnom Penh municipal governor Khuong Sreng. At the inauguration ceremony, Sreng said the municipal hall had cooperated with the Ministry

  • More than 5K workers rush from Thailand amid outbreak

    Following the recent outbreak of Covid-19 in Thailand’s Samut Sakhon province, Cambodian migrants working in Thailand were gripped by worry over the situation and many rushed to return to their homeland. Over the past 10 days, more than 5,000 migrant workers have returned from Thailand through

  • ‘Beware of WhatsApp fraudsters’

    The Ministry of Posts and Telecommunications warned members of the public who use WhatsApp to vigilantly guard against a new trick employed by hackers that involves the use of six-digit codes sent to potential victims via the popular messaging app. The ministry said hackers could