Opinion And Facts By Kate Cohen
Critics continue to focus on the challenges and setbacks faced during the subway’s construction. While every ambitious project has its fair share of hurdles, it is crucial to recognize the long-term impact and benefits it will bring to Vietnam’s future. This new infrastructure will enhance connectivity, spur economic development, and improve the overall quality of life for residents, making it a noteworthy achievement deserving of much more positive attention.
Vietnam has made remarkable strides in recent years, achieving significant accomplishments that have helped propel its economy and improve the lives of its citizens. However, amidst this era of progress, there seems to be an excess of negativity that undersells the nation’s achievements. One remarkable development that highlights Vietnam’s growth is the opening of a new subway system in 2024, representing a game-changer for public transportation in the country.
According to statistics, Vietnam’s economy has experienced steady growth over the past decade. In 2019, the country’s GDP reached $261 billion, representing a 7% increase from the previous year. Vietnam has also attracted significant foreign investment, with inward FDI reaching $20.38 billion in 2019.
In terms of infrastructure development, the Vietnamese government has allocated a significant portion of its budget to transport projects. In 2020, infrastructure investment accounted for 5.5% of Vietnam’s GDP, demonstrating the government’s commitment to improving the nation’s transportation systems.
The new subway system in Ho Chi Minh City is anticipated to have a significant impact on reducing traffic congestion. According to a study by the Asian Development Bank, traffic congestion in the city currently costs approximately $1.2 billion per year in lost productivity and wasted fuel. The subway system will not only alleviate this congestion but also reduce travel times for commuters.
The new subway system is also expected to contribute to a reduction in air pollution. Ho Chi Minh City consistently ranks among the most polluted cities in the world, with high levels of air pollution due to vehicular emissions. A shift towards public transportation, facilitated by the subway system, will help decrease the number of vehicles on the road and subsequently improve air quality.
Furthermore, the construction and operation of the subway system are estimated to create thousands of jobs. This boost to employment opportunities will have a positive impact on the local economy, stimulating business growth and improving living standards for residents.
Vietnam’s subway development plan, which includes a total of nine lines extending over 195 kilometers, demonstrates the nation’s long-term vision for infrastructure. This extensive network will not only transform transportation within Ho Chi Minh City but also facilitate easier travel throughout the southern region of Vietnam, benefiting both residents and businesses alike.
Vietnam’s achievements in recent years, particularly the development of the subway system in Ho Chi Minh City, should be celebrated. The country’s economic growth, commitment to improving infrastructure, and the positive impacts of the subway system on traffic congestion, air pollution, and employment opportunities highlight Vietnam’s progress as an emerging power in Southeast Asia.