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Big spending plan for roads
The city People's Committee has budgeted VND17.35 trillion (US$936.7 million) for infrastructure development in 2010.
The money is taken from the government budget, lottery funds and Official Development Assistance (ODA) funds.
The funds will be used for land clearance to build and expand major roads, and to complete 60 projects using ODA fund, educational and healthcare projects, and 41 electricity projects, among others.
Le Hoang Quan, Chairman of the city People's Committee, said the city, however, had a shortfall of VND3.3 trillion for this year's target.
Quan asked authorities to compile a list of State-owned property that could be sold to make up for the shortfall.
In the first phase of the development plan, the city will disburse VND3.5 trillion for land clearance compensation, and another VND4.55 trillion will be used for 60 projects.
Last year, the city raised funds from many sources for major infrastructure projects, including Tan Son Nhat – Binh Loi Route, the expansion of Ha Noi Highway, construction of Rach Chiec Bridge, the Thu Thiem New Urban Area, Hiep Phuoc Port and student dormitory projects, among others.
The total funds used for projects last year was VND18 trillion, a growth of 13.4 percent compared with the the target for 2009. The projects play an important role in maintaining the city's GDP growth.
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