HCMC to develop urban railway using specific model

TOD brings together elements of land use and transport planning, urban design, real estate development, financing, land value capture, and infrastructure implementation to achieve more sustainable urban development.

Experience from the urban development process in major cities in the world such as Tokyo, Seoul, Singapore, and London show that TOD linked with the exploitation of the land fund is a basic, long-term solution, especially in creating investment resources for developing the urban railway network.

Speaking at a recent workshop held to discuss the model, Vice Chairman of the Ho Chi Minh City People’s Committee Bui Xuan Cuong said Japan has been successful in implementing TOD. Ho Chi Minh City is proposing a special mechanism to the National Assembly to develop the city, including a proposal to focus on developing urban transport, including Metro No. 1 and 2.

Bui Xuan Nguyen, a representative from the Ho Chi Minh City Urban Railway Management Board, said it is necessary to study and invest in urban railway projects using the PPP model. The city needs total investment capital of around $25.8 billion to complete its urban railway network as planned.

Source: VnEconomy