Approved on Sunday by the city's legislature, the People's Council, the amount will be spent on, among others, widening a section of National Highway 50 in Binh Chanh District.
The 870-meter section, which is 11 m wide, is near the city's gateway from the Mekong Delta and frequently suffers from crippling traffic jams.
It is set to be widened to 34 m with six lanes.
The underpass at Phu Huu near the Lien Phuong Roundabout in Thu Duc City will be renovated.
A new road to access the Te Canal in District 7 will be built with a length of 1.5 km and width of 9 m.
Two pedestrian bridges, one over National Highway 1K near Xuan Truong Middle School (Thu Duc City) and the other on Provincial Highway 8 in front of Trung Phu High School (Cu Chi District) will also be built.
Among other works in the list are installation of traffic lights at 76 intersections.
All the work will be managed by the Road Infrastructure Management Center and completed by 2026.
According to the city People's Committee, the projects will be in areas where roads are narrow and often flooded and lack traffic lights, posing high risk of accidents.
The city has 7.8 million motorbikes and 865,000 cars on its roads.