Vietnam will spend heavily on transport infrastructure development once the worst of the current pandemic has passed, the World Highways reported.
The Asia Pacific region has reconfirmed its driving force position for the global economic dynamism in the coming years. However, a substantial lack of infrastructure in many countries in the region has made trade competitiveness much less efficient, and the economic growth less sustainable. Vietnam is not an exception, for both of its infrastructure quality and quantity are far below the development requirements.
The country is planning to develop its transport infrastructure as the threat of the current pandemic recedes in a bid to boost economic growth. The plans are being developed by Vietnam’s Ministry of Transport.
One of the projects to be prioritized will be the eastern stretch of the North-South Expressway. The project is costing around US$6.46 billion and is for a 729km stretch of road that will be split into 12 sections, each of which will be built under the PPP model.
Meanwhile, the necessary approvals have been given for three new road works to connect with Long Thanh International Airport in Dong Nai Province. The roads run between the airport and Long Khanh City, Cam My, Thong Nhat and Dinh Quan. The most costly part of the US$862 million work will be the 53km Road 770B road, while route DT 773 will benefit from an additional 51km and DT 769 will be improved.
In addition, authorization is being given for the financing package for the My An-Cao Lanh highway. The route will improve transport in the Mekong Delta. Completing the project is expected to cost $2 billion. The Korea Development Economic Cooperation Fund is providing a loan worth nearly $159 million to help support the project. Vietnam’s Ministry of Transport (MOT) is in charge of the project, according to the World Highways.