Viet Nam has been listed among developing countries expected to lead the region in transport infrastructure growth next year, according to a report from Construction IQ, a division of the New-York-based International Quality and Productivity Centre.
In its Land Transportation Outlook 2012, which focuses on the growth and development of tunnel and bridge construction in Asia, Construction IQ outlines project pipelines in Asia, revealing the largest infrastructure investments were gravitating towards the developing economies of mainland China, Viet Nam and India. The report attributes the growth to the high number of urbanisation and modernisation initiatives being pursued by the governments of these countries.

However, infrastructure investments in these developing economies are also impeded by heavy red tape which increases overall costs and delays project implementation, said the report.

Notwithstanding these challenges, the overall outlook for the region remained positive as stronger bilateral relations between regional trading partners continued to drive road and infrastructure investments aimed at connecting far-flung regions, such as expansion of the Asia Highway network that would eventually connect Southeast Asia with China and key Central Asian economies.

Among developed economies in the region, meanwhile, notable bridge and tunnel projects included the US$9.7 billion Seoul underground road network project in South Korea and the $11.3 billion Macau-Zhuhai Bridge project in Hong Kong.

VNA