The figure is announced in a draft plan designed to boost private sector participation in traffic infrastructure projects. The ministry is consulting relevant agencies over the draft.

Of the sum, the ministry plans to invest VND164 trillion in roads, VND44 trillion in maritime sector, VND55 trillion in aviation projects, VND11 trillion in inland waterways and VND14 trillion in railways.

For road projects, priority would be given to several sections of the north-south expressway, and vital road links with Hanoi and HCMC, the country’s two biggest cities. By 2020, around 2,500 kilometers of expressway would be opened to traffic.

In the maritime sector, investment capital will be raised to further develop the national seaport system, international gateway ports, and deepwater ports which can receive modern container ships.

A focus will be put on specialized ports and important waterways. Enterprises will be invited to invest in seaports and inland wharves, and the public-private partnership (PPP) format will be preferred for inland waterway projects, according to the project.

In the aviation sector, the ministry plans to mobilize funds for Long Thanh international airport project and several other airports.

Funds will be mobilized to build terminals, warehouses, service areas for railway stations, and a couple of railway sections.

In the draft plan, the ministry suggests the Government seek permission from the National Assembly to issue Government bonds to raise funds for PPP projects.

It also suggests setting up a fund for developing traffic infrastructure and supporting local authorities to speed up the use of land for traffic infrastructure development.

Another suggestion is that the central bank will provide a credit package worth VND100 trillion for infrastructure development.

At a meeting on July 9 to look into the plan, Minister Dinh La Thang said the plan is aimed at pushing the mobilization of resources in society for traffic infrastructure investment.

He called on relevant agencies to ensure benefits for the State, the investor and the public when fine-tuning the plan for submission to the Government.