The Ministry of Transport expects to draw out some VND7 trillion (US$286.6 million) to pay off defaulted loans from Korean and German financers in the construction of the Hanoi-Hai Phong Expressway.
The Government would focus on accelerating the progress of national projects, especially expressways, seaports, digital infrastructure, as well as those in fields of innovative startups in 2022.
The financing mechanism under the private-public partnership (PPP) model would be essential to realize this goal.
Once completed, the project would be a key component under the Kunming (China) – Hai Phong transport corridor, which is a cooperation program among six countries in the Greater Mekong Subregion.
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.
Vietnam is determined to have the best transportation system to serve the country’s goal of industrialization and modernization, Prime Minister Nguyen Xuan Phuc has said.
More relief measures are in the pipeline to support people and businesses affected by the pandemic.
The move would help form a network of expressways connecting vital routes.
More efforts are being made to speed up the economic recovery process while many countries are struggling with the Covid-19 pandemic.
Vietnam is stimulating key transport projects and other infrastructure ones to support development and economic recovery in post-Covid-19. And this is a good opportunity for investors.