Vietnam targets to have 5,000 kilometers of expressway by 2030
The Hanoitimes - With huge investment capital required to realize the target, the transport ministry is responsible for finalizing legal framework to help attract greater investment capital for transport infrastructure development.
In the next ten years, Vietnam targets to have at least 5,000 kilometers of expressway from around 1,200 kilometers that have already been built throughout the country.
|Newly-built Ring Road No.3 (section Mai Dich – South Thang Long) in Hanoi was opened for traffic on October 11. Photo: Pham Hung.|
Deputy Prime Minister Trinh Dinh Dung made the remarks at a conference held on December 24, discussing the targets for the Ministry of Transport (MoT) next year.
During the 2011-20 period, Vietnam has built 1,074 kilometers of expressway, taking the total figure to 1,163 kilometers.
“However, the government’s target of having at least 2,000 kilometers of expressway in 2020 has not been fulfilled, and is pushed back until early 2022, or one year behind the schedule,” noted Mr. Dung.
Mr. Dung expected the 2021 to be a key milestone for the MoT, for which the ministry is tasked with preparing investment plan for transport infrastructure development in the next four years.
In the past five years, Vietnam expected to build over 600 kilometers of expressway, however, it took the country two years to complete the investment procedures and only three years left for construction.
“For the next government term, we have to address this issue and complete all administrative procedures right in the first year,” Mr. Dung suggested.
To realize the 5,000 kilometer-expressway targets by 2030, Vietnam will need huge investment capital. The Eastern North- South expressway project stretching from Hanoi to Can Tho alone has already cost over VND300 trillion (US$10 billion).
“The utmost priority for the MoT at the present is to finalize legal framework to help attract greater investment capital for transport infrastructure development,” stated Mr. Dung.
For existing expressway projects, Mr. Dung urged the MoT to work with the Ministry of Planning and Investment to speed up the construction process for soon operation.
In 2021, the MoT set public investment plan worth VND46 trillion (US$1.98 billion), focusing on major transportation projects, including the North-South expressway, Ben Luc – Long Thanh expressway; My Thuan – Can Tho expressway phase 1.
Deputy PM Dung noted huge investment capital would be required for urban railway projects in major cities, which could amount up to US$80 billion for 16 urban railway routes in Hanoi and Ho Chi Minh City.
“With budget constraint, the MoT should continue to call for the participation of private investors and help address concern of enterprises during the process,” he suggested.
- Foxconn to make Macbook, Ipad in Vietnam
- Singapore’s investors seek investment opportunities in startups in Vietnam
- State-owned firms urged to preserve State capital in pandemic context
- Vietnam’s first hospital lists shares on HoSE
- Vietnam starts construction of My Thuan – Can Tho expressway
- Actual FDI in Vietnam down 2% to US$20 billion in 2020
- Business formations in Vietnam down 2.3% in 2020 amid Covid-19 pandemic
- Vietnam, Japan in favourable conditions to further investment, trade relations: Amb.
- Vietnam targets to have 5,000 kilometers of expressway by 2030
- Why Vietnam’s outlook for 2021 looks bright?
Hanoi to invest at least 1% of GRDP in sci-tech by 2025
Vietnam Airlines, Humane Society International join hands to save rhinoceros
Vietnam needs to ensure uninterrupted care for elderly in pandemic: UNFPA
Vietnam to mobilize all forces for National Assembly election
Party Central Committee plenum completes preparation for 13th Congress
An overseas Vietnamese: Covid-19 infected, in lockdown and the desire to fly back home
Hanoi to host 10th Gymnastics & Sports Games Congress
Vietnam applies IT in imported goods quality control
Samsung Vietnam to recover its growth target after pandemic