International Enterprises Singapore (IE Singapore) and the World Bank (WB) will help choose suitable public-private partnership (PPP) and private sector participation (PSP) models for the second stage of the Ho Chi Minh City Environmental Sanitation (Nhieu Loc-Thi Nghe basin) project.
A memorandum of understanding to this effect was signed between IE Singapore, the WB and the municipal People’s Committee in Ho Chi Minh City on July 11.
Nguyen Phuoc Thao, Director of the municipal Flood Prevention Centre said that the city is conducting research into a feasible PPP/PSP model for the project’s second stage, including the construction of a drainage system and a wastewater processing plant with a daily capacity of 830,000 cubic metres.
Started in March this year, the project has so far received US$290 million from the WB.
The project’s first stage, which has an initial positive impact on over two million city people, will be finished by the end of this year.
Tan Soon Kim, Director of the Southeast Asia Group of IE Singapore said this is the first time his organisation has provided technical assistance to Vietnam, which would make a foundation for deeper cooperation between Vietnam and Singapore.
Alain Barbu, Operations and Portfolio Manager of WB said the WB has so far pledged over US$600 million to the city and planned to provide another US$200 million for the sanitation project’s second stage.