With the economy gradually bouncing back, Vietnam will continue speeding up the disbursement of public investment this year, with a focus placed on infrastructure development in order to spur on economic growth this year and beyond.
According to the national road network planning by 2050, Vietnam will have more than 9,000 km of expressways. The country aims to complete construction of about 5,000 km by 2030.
Along with upgrading railway routes, Vietnam has ambitious plans to develop a number of new ones during 2021-2030 to strengthen regional economic development.
The transport authority of Danang recently received a proposal from its counterpart in the neighboring province of Quang Nam about the resumption of passenger transport services linking the two localities.
The Vietnamese government tries to speed up public investments while increasing the private sector’s involvement, focusing on infrastructure projects that are meant to stimulate growth, improve connectivity, and spur on socioeconomic growth.
The Ring Road No. 3 project, which was approved 10 years ago, must be completed by 2025 to help ease traffic jams in HCMC and connect with the southern key economic zone, said Deputy Prime Minister Truong Hoa Binh.
The rapid rise of new apartment blocks in HCM City has exerted intense pressure on infrastructure while local communities gain little benefit from new homes.
HCM City’s new Mien Dong bus station, the most modern of its kind in Vietnam, has remained deserted after more than five months put into operation.
The HCMC Department of Transport has proposed the municipal government develop six key traffic infrastructure projects leading to the seaports in the city with an estimated investment of over VND27 trillion.
The money for railway maintenance is available, but remains inaccessible to maintenance units because no final decision has been made on whom to allocate capital - the Vietnam Railway Authority (VRA) or Vietnam Railways (VNR).
Investors are worried as their Build-Operate-Transfer (BOT) projects cannot satisfy requirements as revenue has been lower than expected.
The HCMC government has approved a proposal to reclaim land along new road projects in the city for auction and resettlement area development.
Ho Chi Minh City will pour investment in traffic infrastructure project this year, Director of the city Transportation Works Construction Investment Project Management Authority Luong Minh Phuc has said.
Three major transport projects will be put into operation from January 10-12, according to the Ministry of Transport.
Ho Chi Minh City People’s Council has cancelled 61 projects which have failed to be implemented on schedule, with developers showing their incapability to move things forward.
HCM City’s infrastructure development is focused on transforming the economy and making it services-based.