Foreign investors eye opportunities in HCM City's metro expansion

Foreign investors eye opportunities in HCM City's metro expansion

Foreign infrastructure investors are showing increasing interest in HCM City's ambitious metro development plans, as the southern economic hub accelerates efforts to expand its urban rail network over the next decade.

Passengers ride HCM City's first metro line. The city is attracting growing interest from foreign infrastructure investors as it accelerates plans to expand its metro network. — VNA/VNS Photo

The city's Department of Construction on Friday signed a memorandum of understanding (MoU) with China's Pacific Construction Group to explore cooperation in infrastructure development, including urban railway projects.

Under the agreement, the two sides will study planning frameworks, technical standards, technology transfer, workforce training and investment opportunities related to infrastructure projects in the city.

The department will provide information and coordinate exchanges to help the company assess potential participation in projects, while the Chinese group will research planning requirements, propose technical solutions and financing options, and explore suitable investment models.

City officials said the cooperation could help accelerate infrastructure development, particularly metro projects, which have become a key priority as the city seeks to ease traffic congestion and support long-term economic growth.

Pacific Construction Group is a private infrastructure developer involved in investment, construction, operation and management of transport and public works projects. It has been listed among the world's largest corporations for several years.

Speaking at the signing ceremony, Pacific Construction Group founder Yan Jiehe described HCM City as a market with significant infrastructure development potential.

He added the company was interested in participating in projects under an integrated model that combines investment, construction, operation and maintenance.

According to the company, such an approach can help ensure construction quality throughout a project's lifecycle while improving efficiency in operation and maintenance.

The agreement comes as Việt Nam's largest city seeks additional sources of capital, technology and expertise to support one of the country's most ambitious urban transport programmes.

In addition to Pacific Construction Group, Guangzhou Metro Group has established a representative office in HCM City to coordinate consulting, design and construction activities related to potential urban railway projects in Việt Nam.

The growing interest from foreign firms reflects the scale of the city's metro expansion plans.

Following the launch of Metro Line No. 1 in late 2024, connecting Bến Thành Market and Suối Tiên, authorities aim to complete over 200 kilometres of urban rail lines by 2030.

While no specific investment commitments have been announced under the latest agreement, the MoU signals growing international interest in participating in the city's infrastructure transformation as demand for modern urban transport continues to rise. 

Bizhub