Update news transport projects
The Ministry of Transport disbursed VND9.4 trillion for transport projects during the year to October, equivalent to 35.7% of the full-year target, while the remaining VND16.9 trillion has yet to be disbursed.
VietNamNet Bridge – The HCM City Department of Transport expects to start construction on 70 transport projects this year.
VietNamNet Bridge – The North-South Highway will be around 2,100km long, run through 32 provinces and be built in three stages.
The Ministry of Transport (MOT) has said that the north-south highway requires lower costs compared with other projects, but the Ministry of Finance (MOF) says the required investment is high compared with the long-term public investment plan.
VietNamNet Bridge - The State Bank of Vietnam (SBV) has restricted disbursement of funds to implement BOT (build, operation, transfer) transport projects. The aim is to tighten credit for BOT projects.
VietNamNet Bridge – The transport sector will have to mobilize at least VND235 trillion (some US$11 billion) from different sources exclusive of the State budget for infrastructure development in 2016-2020.
The Ministry of Transport said it plans to mobilise 960 trillion VND (4.5 billion USD) from various sources to invest in infrastructure in the 2014-20 period.
VietNamNet Bridge – The Ministry of Transport has suggested a bonus worth VND90 billion to South Korean and Japanese contractors to reward their project fulfillments before the deadline.
VietNamNet Bridge – The Ministry of Transport has said that transport projects could be sold to foreign investors, but analysts believe the ministry is being “too optimistic”.
The fact that a series of foreign contractors were punished for their violations has pleased domestic contractors, who always complain that foreigners receive big favors from government agencies and investors.