Making news

Da Nang calls for 2-billion-USD investment in 2021-2025

The central city of Da Nang has called for total investment of 47.5 trillion VND (2 billion USD) from the State Budget and foreign sources for the development of 38 projects between 2021-2025, focusing on transport and traffic.

Director of the city’s Department of Planning and Investment Tran Phuoc Son said 77 percent of the proposed investment would come from international loans or Official Development Assistance (ODA).

Son said these projects also included the construction of new hospitals, expansion of an already-built hi-tech park, a new bio-tech park and a healthcare system for the central coastal region.

The relocation of the city’s railway station and an urban project related to rail and port logistics had been planned from 2017, but required loans from the World Bank (WB) and Asia Development Bank (ADB).

The railway station removal and an urban redevelopment project would need 12.3 trillion VND (535 million USD) – 26 percent of the total proposed investment fund in 2021-2025.

According to the city, the new railway station will help link the key North-South railway and road system, the Da Nang-Quang Ngai Expressway, the East-West Economic Corridor and new planned Lien Chieu deep sea cargo port.

The city’s transport department and Seoul Metro company have been working on a survey for an inner city railway network including two metros and eight tramways connecting the airport, shopping centres, beaches, resorts, the Han River banks and other destinations.

Da Nang is Vietnam’s fourth largest city and is widely regarded as having better infrastructure than other cities in the country. It plans to turn itself into a ‘green' city by 2025./