On February 28, during the economic and social meeting for February and the tasks for March 2025, Ho Chi Minh City Director of Transport Tran Quang Lam reported on the progress of key infrastructure projects. He noted the efforts to complete major transportation routes, stating, "For three departments – Traffic, Urban Railways, and Infrastructure – the total capital assigned is 36 trillion VND, accounting for 43% of total public investment." The transport sector plans to complete and start 30 major projects, including the Belt Road No. 2, the Ho Chi Minh City-Moc Bai expressway, the Nguyen Khoai bridge, and connecting routes. Lam emphasized the importance of the transport sector, noting, "Out of 42 key projects, the transport sector accounts for 28 projects."
key highlight of the meeting was the urban railway project, particularly metro line 2, which has secured favorable conditions for site clearance. The project is currently approved and moving forward with design phases. He added, "By the end of this year, we aim to complete one section of Belt Road No. 3 (in Thu Duc) to connect with Dong Nai, with the entire Belt Road No. 3 expected to be completed by mid-2026." Lam also mentioned challenges with Belt Road No. 2, where three sections are still undergoing site clearance and compensation, expressing hope to commence those projects by the third quarter of 2025.
Regarding Belt Road No. 4, plans have been submitted for investment consideration, with the Ministry of Planning and Investment currently gathering input from appraisal council members, targeting submission to the National Assembly at the next session. The Ho Chi Minh City-Moc Bai expressway is expected to break ground before September 2, and the Ho Chi Minh City-Chon Thanh-Thu Dau Mot expressway aims for late-year construction.
For four national highways (1, 13, 22, and the North-South axis) which were recently approved by the Ho Chi Minh City People’s Council for investment via the BOT (Build-Operate-Transfer) model, Lam stated, "We will start at least the North-South axis, as site conditions are about 90% ready." He also mentioned the impending completion of the An Phu interchange by the end of 2025 and the My Thuy interchange by 2026. The connecting road Trần Quốc Hoàn is on track to finish by April 30, aligning with the opening of Tan Son Nhat Airport’s Terminal 3.
Discussing urban railway projects, Lam pointed out the National Assembly's approval of Resolution 188, which established unique mechanisms for project management. Previously, projects exceeding 30 trillion VND required National Assembly approval, but now local authorities have the autonomy to manage them. He remarked, "There’s no need to wait, because we've got the mechanisms."
major concern raised during the meeting was the delay in investment project approvals due to pending government decrees. Lam voiced worries, stating, "If we wait for the decree, will it delay the process?" He urged the need for immediate capital allocation and mentioned the delays faced by projects already approved or tasked, such as the Thai Van Lung road, pending funding since its approval last year.
Deputy Chairman of Ho Chi Minh City’s People's Committee Bui Xuan Cuong echoed concerns about project delays and emphasized the importance of timely funding arrangements. He pressed for the Planning and Investment Department to find solutions for funding allocation. He noted, "Projects approved for investment face frustration when funds are not released on time." Cuong suggested streamlining the bidding process to hasten project timelines, citing examples where plans were delayed by months. He called for early presentation of bidding plans and construction packages to expedite processes.
Meanwhile, at another session on the same day, Ho Chi Minh City organized its regular economic and social meeting for February. Chairman of the People’s Committee Nguyen Van Duoc presided over the meeting, where Director of Natural Resources and Environment Nguyen Toan Thang reported on progress with the new Land Law 2024 implementation. The city has issued 12 documents to support the law’s execution, including procedures for granting certificates for residential projects.
Thang highlighted how the new law changes procedures significantly, aiming to shorten processing times and increase the number of certificates issued. He stated, "Previously, certification required extensive procedures and inspections, but under the new law, we just need to hold meetings to reach consensus for documentation." This change is expected to facilitate more than 50 projects and cover over 49,000 housing units since the beginning of 2025 alone.
Through January and February, the number of real estate transactions surged, totaling 1.5 trillion VND, marking a rise of 34% from the same period last year. Thang also noted officers will recommend the People’s Committee work on legal assessments to expedite pricing approval processes, which could boost total revenue from property assessments to 30 trillion VND.
Regarding the Thu Thiem new urban area, plans are underway to auction three land lots there. The starting price for these lots is projected to be above 5 trillion VND, with the bidding process anticipated to conclude by the second quarter of this year. Thang elaborated, "The sale will provide significant income through property sales, valuation, and auctions, which should remain pivotal throughout the year."
Hoang Tung, Chairman of the Thu Duc City People’s Committee, stated their budget collection responsibility is around 30 trillion VND, with 15 trillion VND expected from land use rights linked to the Thu Thiem development. He confirmed the city is on track to complete land valuations and auctions, indicating progress toward meeting its fiscal targets. Tung added, "We are reorganizing our operational structure effectively, targeting the establishment of functional departments by March 4 to meet spatial development needs going forward."
With substantial infrastructure projects on the horizon and legal frameworks being refined, Ho Chi Minh City is poised to stimulate its economic growth and development throughout 2025, focusing on enhancing its transport networks and real estate markets.