Construction

Amid a slowdown in private investments and consumption, expert suggested public spending is essential to spur economic growth and ensure decent living standards for the people.

By changing the form of investment, construction of the expressway could start in the third quarter of 2020 instead of the first quarter of 2021 at the earliest.

Global Infrastructure Hub estimated that Vietnam needs to invest US$110 billion between 2021 and 2025 for infrastructure.

Southeast Asian governments invest more as a share of total government expenditures than member countries of the OECD. Much of that spending goes for infrastructure.

Taking into account the size of the Vietnamese economy, a large proportion of the state budget allocated for infrastructure development would affect the balance of payment and the economy.

There is a growing need to better integrate and connect domestic markets to ensure that any potential slowdown in exports can be offset by higher domestic demand.

This is the second year Vietnam exported such a record-high volume, listing itself a leading cement exporter.

This is the second consecutive year that Vietnam’s economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018.

Most companies did not achieved the growth target for the January – September period.

The combined capacity of the 22 airports in Vietnam is just equal to that of one single airport like Changi in Singapore, Suvarnabhumi in Thailand or KLIA in Malaysia.

Under the government instruction, the planning adjustment must ensure the capacity expansion of Noi Bai International Airport to 100 million passengers per year.

The Hoa Lac Hi-tech Park is currently home to 91 projects which have combined investment approvals of over VND85.8 trillion (nearly US$3.7 billion).

The construction will cost an estimated VND5,903 billion (US$255 million), of which VND3,088 billion (US$133 million) will be sourced from the state.

All fields, except for security and national defense, must be open for investment, said Prime Minister Nguyen Xuan Phuc.

The move aims to boost transparency in toll collection and avoid tax evasion.

Lach Huyen deep sea port will enable direct exports from northern Vietnam to the US and European markets without transit through ports in Singapore and Hong Kong.

The Ministry of Transport is selecting technical consultants for 11 sections with a combined length of 657 km from the north to the south.

The ratio of public investment to total social investment has been decreasing, while those of the private and foreign-invested sectors are increasing.

PM Nguyen Xuan Phuc noted that Vietnam needs US$25 billion annually for the infrastructure sector until 2020.

The construction ministry’s inspectors have also found out many wrongdoings of Posco at VEC-invested expressway projects.