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HCM City allocates VND17,348 billion for key projects
Ho Chi Minh City plans to invest VND17,348 billion, including VND14,044 billion from the State budget, in key projects to increase its economic growth in 2010.
The Chairman of the HCM City People’s Committee, Le Hoang Quan, said the city will launch an auction of some State-owned land and houses which are unused or under-utilized.
The city will make a balance between the State budget and official development assistance (ODA) capital and focus investment on projects which are scheduled for completion in 2010, he said.
In 2010, HCM City will spend VND3,524 billion in compensation for acquisitioned land and boost the disbursement of ODA. It will also allocate VND4,536 billion from the State budget for 60 projects.
Last year, the city successfully mobilised investment sources to implement many key projects, including a project to build the Tan Son Nhat-Binh Loi road, a project to expand the Hanoi road, a project to build Rach Chiec bridge, a project to build Metro No.1 and No.2, and projects to develop the new Thu Thiem and Hiep Phuoc urban areas.
In 2009, HCM City disbursed more than VND18,000 billion, 13.4 percent above the year’s set targe.
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