Vietnam’s US$40 billion metro boom in Ho Chi Minh City
The race is on to build HCMC’s metro network, which is set to reshape the country’s largest city
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[HO CHI MINH CITY] Construction powerhouses from Vietnam – Vingroup, Sovico, Thaco, Masterise and Becamex – and Malaysia’s Gamuda Land are jockeying for a piece of Ho Chi Minh City’s massive metro build-out.
With the US$40 billion in hand from public and private capital sources, the city will build 10 urban railway lines by 2035. The network is poised to become the backbone of a new urban framework for Vietnam’s southern metropolis.
Momentum has picked up sharply this year, fuelled by legal reforms that give private conglomerates political cover, faster approvals and more viable public-private partnership models. The changes open the door for investors to secure prime land in exchange for developing critical transport infrastructure.
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