Ho Chi Minh City adjusts investment for Phu My 2 bridge project to nearly $22 billion

Ho Chi Minh City is adjusting the investment policy for the Phu My 2 bridge construction project, a key infrastructure initiative aimed at easing traffic congestion and fostering regional connectivity.

The project, initially approved in December 2025, was planned as a public-private partnership (PPP) using a build-transfer (BT) contract. The initial financial structure involved compensation through designated land plots, valued at approximately 15.08 trillion VND, supplemented by about 5.81 trillion VND from the city's budget.

Under the revised proposal submitted to the Ho Chi Minh City People's Council, the value of land compensation is slightly reduced to an estimated 14.99 trillion VND. Concurrently, the portion to be financed by the city's budget is increased to approximately 6.90 trillion VND. The project also accounts for loan interest and reasonable investor profits, to be paid based on actual figures and legal regulations.

City budget funds will only be disbursed if the land compensation is insufficient to cover investor payments. The payment period is set within three years after the bridge's completion and acceptance. The Phu My 2 bridge is considered a critical project for Ho Chi Minh City, vital for connecting the southern areas of the city with Dong Nai province and the future Long Thanh International Airport. Its completion is expected to significantly reduce traffic pressure on the existing Phu My Bridge, national highways, and expressways, thereby lowering logistics costs and enhancing regional economic development.