>> Hanoi master plan calls for massive capital injection
The Ministry of Construction has submitted a VND1,098 trillion (USD50 billion) draft on urban development for the 2011-2020 period to the Government.
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| The Ministry of Construction proposes controlling the use of motorbikes and cars in Hanoi and HCM City |
Of the sum, VND483 trillion (USD23.2 billion) will be spent from now until 2015, with the remainder used later during the 2015-2020 phase.
The investment capital is expected to be sourced from the State budget, official development assistance (ODA), development investment funds and different economic sectors.
According to the draft, public transport routes such as elevated railways and metro will be built in Ho Chi Minh City and Hanoi. The ministry has also recommended the construction of express bus routes and other modern transport means in first-grade cities which are directly under the central government\'s management.
The ministry said the development of motorbikes and cars should be controlled in Hanoi and Ho Chi Minh City, instead, encouraging the use of environmentally friendly means of transport.
Under the draft, from now to 2015, the country will have 870 cities with average accommodation area of 26 square metres per person. The figure is expected to rise to 940 cities and 29 square metres respectively by 2020.
The ministry has also proposed place five other cities in the "first grade" category. These are Vung Tau, Ha Long, Thanh Hoa, Viet Tri and Nam Dinh.
Urban areas contribute to around 70% of the national GDP annually.