Central city calls for $2 billion investment in 2021-25

Tuesday, Sep 08, 2020 15:14

The bay in Da Nang will become a new sea port, rail and logistics centre. Photo courtesy Trung Nam Group

Da Nang has called for total investment of VND47.5 trillion (US$2 billion) from the State Budget and foreign sources for the development of 38 projects between 2021-25, focusing on transport and traffic.

Director of the city’s planning and investment department, Tran Phuoc Son, said 77 per cent of the proposed investment would come from international loans or Official Development Assistance (ODA).

Son said these projects also included the construction of new hospitals, expansion of an already-built hi-tech park, a new bio-tech park and a healthcare system for the central coastal region.

The relocation of the city’s railway station and an urban project related to rail and port logistics had been planned from 2017, but required loans from the World Bank and Asia Development Bank (ADB).

The railway station removal and an urban redevelopment project would need VND12.3 trillion ($535 million) – 26 per cent of the total proposed investment fund in 2021-25.

According to the city, the new railway station will help link the key North-South railway and road system, the Da Nang-Quang Ngai Expressway, the East-West Economic Corridor and new planned Lien Chieu deep sea cargo port.

The city’s transport department and Seoul Metro company have been working on a survey for an inner city railway network including two metros and eight tramways connecting the airport, shopping centres, beaches, resorts, the Han River banks and other destinations.

Da Nang is Viet Nam's fourth largest city and is widely regarded as having better infrastructure than other cities in the country.

It plans to turn itself into a ‘green' city by 2025. — VNS

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