As a report, the city needs a capital source of VND 1.8 million billion, 0.81 of that is allocated for infrastructure development. For anti-flooding projects, the city needs a total capital of 96, 327 billion VND, 22, 948 billion Dong has been allocated in the period of 2011-2015. However, the city now can only allocate approximately 16, 338 billion Dong, 588 billion Dong comes from Central Government, 20, 283 billion VND will be mobilized from public, 36, 132 billion Dong is mobilized from ODA or PPP. In such a tough budget, it is a practical solution to attract investment capital domestically and internationally to contribute to sustainable economic development of the city.

HCMC is now calling for investment in 17 projects under form of PPP in fields of anti-flooding, waste collection system, waste water treatment, canal dredging, etc.

Speaking at the conference, Mr. Tran Vinh Tuyen said these projects aim to prevent flooding in centre areas of the city and a part of 5 suburban areas (550km2) for approximately 6.5 million people, improving water environment, creating water storage space, improving urban landscape and living standard of local citizens, protecting environment.

At the same time, Mr. Tuyen added it is a consistent policy of the city to pursue transparent and public investment procedure. The demand of anti-flooding is huge but its financial strength is limited while progress of planning is still slow. Therefore, the city is eager to listen to opinion of investors with expertise, financial strength and experience to help the city fight against flooding.

“It is a desire of the city to listen to solutions of financial organizations, investors, domestic and foreign businesses, we are encouraging investment projects under forms Public-Private Partnership. It is our commitment to implement a public and transparent investment process”, affirmed Mr. Tuyen.

HCM CITYWEB