Ho Chi Minh City plans to spend VND17.348 trillion (US$930 million) on some key projects this year, with VND14.044 trillion of the amount coming from the central government’s coffers.

The People’s Committee has urged both public agencies and private investors to speed up progress on all large projects they are working on and call off works that have been delayed or run into other problems.

It has promised to allocate VND3.524 trillion ($188 million) for those projects requiring cash to pay compensation to people who have been relocated and their lands acquired.

The Department of Transport has drawn up a list of multi-million-dollar projects that are set to begin this year, including the $2.3 billion Ben Thanh-Suoi Tien metro, the $95 million Le Van Tam Park underground parking lot and the $340 million Tan Son Nhat-Binh Loi outer ring roads.

The metro, the city’s first, is expected to reduce the number of motorbikes on the road, now at 4.2 million, by a quarter once operational in 2015.

The 72,000-square-meter, five-story parking lot can accommodate 2,000 motorbikes, 1,250 cars, and 28 buses at a time.

The Tan Son Nhat-Binh Loi road, which will run through the districts of Tan Binh, Go Vap, Binh Thanh, and Thu Duc, is also expected to ease traffic congestion in the city.

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