3:05:30 PM | 9/3/2007
Vietnam’s capital Hanoi needs around US$22.5 billion for traffic development projects, according to the Hanoi Integrated Development and Environment Program (HAIDEP).
The HAIDEP proposed funding for 179 projects, including 140 urban development projects and 39 regional development ones.
Under the HAIDEP, about US$14 billion is invested in urban traffic, US$7.7 billion for road traffic, US$5.6 billion for urban mass rapid transit (UMRT) system, while around one third of the project capital is used for compensation and site clearance.
The Government of Vietnam asked the Japanese Government for the HAIDEP study, aiming to enhance the capital’s sustainable development.
“Hanoi needs a traffic system which has ability to compete in regional and international passenger transport trade market” the HAIDEP proposed, confirming that traffic jams will not happen in 2020, if HAIDEP projects are implemented. (Pioneer, New Hanoi)
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