Vietnam ambitious to complete metro project by 2020

Vietnam is one of the fastest growing nations in Asia. Similar to Cambodia, it has hovered around 7% GDP growth nearly ever year for the last decade. Indeed, it is a hotspot for international investors.

The country has pushed forward economic development to intice foreign investors. Among other things, this has led to more jobs in key cities. Ho Chi Minh City is one of these economic hubs. The metropolis now has more than eight million residents.

To address the issues of traffic, congestion and pollution, the Vietnamese government has decided to build a metro project to in Ho Chi Minh. It is set to span around 20 kilometres, stretch across three major districts and cost around $2 billion. 

According to the deputy managing director of the Management Authority for Urban Railways (MAUR), the metro project is nearly 80% finished. A launch ceremony is planned for October of next year. 

However, the metro project has faced major financial hurdles. The Japanese International Cooperation Agency (JICA), which is carrying out the project, almost halted its construction at one point. Government sources have reiterated that it will be complete by 2020.

Plans have also been announced for a major metro train system in Phnom Penh. No progress has yet to be seen as feasibility studies are still being conducted.    

For more information about infrastructure across the regionk be sure to read our free Investment Guide 2019