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VietNamNews

Transport sector needs $29b

Update: March, 12/2012 - 10:08

 

Nhat Tan Bridge under construction. It will carry traffic to and from Noi Bai Airport. Investment priority will be given to upgrading five international airports. — VNA/VNS Photo Huy Hung
HCM CITY — Viet Nam needs about VND600 trillion (nearly US$29 billion) to develop a domestic transportation infrastructure by 2015 to keep pace with a goal to become a middle-income industrialised country by 2020, according to the Ministry of Transport (MoT).

The ministry has submitted these figures to Prime Minister Nguyen Tan Dung, Tuoi Tre (Youth) newspaper reports.

Under the scheme, MoT will be responsible for managing about VND480 trillion ($23 billion), including VND344 trillion ($16.5 billion) expected to be raised from various resources.

The estimated amounts to be raised include VND9 trillion ($432 billion) from foreign resources, VND17 trillion ($816.5 billion) from corresponding capital, VND51 trillion ($2.44 billion) from government bonds and VND180 trillion ($8.6 billion) from other sources outside the State budget.

According to MoT, investment priorities through 2015 will be given to projects designated to eliminate traffic bottlenecks and congestion.

The plan is expected to be extended through the 2016-20 period.

In particular, the ministry has set a target of completing the expansion of 878 kilometres of National Highway No1, with priority to be given to upgrading the section from Ha Nam to Ha Tinh provinces in the north in 2013.

About 600 kilometres of expressway will be built on the north-south National Highway. The expressways will link Ha Noi and HCM City with important gates and traffic points.

In addition, the ministry will complete the upgrading of railway routes including Yen Vien-Cai Lan, Yen Vien-Lao Cai, and the construction of elevated railways, including Cat Linh-Ha Dong in Ha Noi, and Ben Thanh-Suoi Tien in HCM City. The north-south railways will also be upgraded.

Between now and 2015, construction is expected to be completed on the Lach Huyen International GateWay Port in northern Hai Phong, the Cai Mep-Thi Vai Deepwater Port in southern Ba Ria-Vung Tau Province, and waterway passage for heavyweight vessels to the Hau River.

The ministry has also planned to mobilise capital from overseas resources for construction of the Van Phong International Transhipment Port in central Khanh Hoa Province.

For airways, the ministry will give investment priority to the upgrading of five international airports including Noi Bai, Tan Son Nhat, Da Nang, Can Tho and Cam Ranh in order to increase the sector's transport capacity of 60 million passengers per year.

If the transportation infrastructure development plan is approved, MoT and relevant ministries and branches will have to prepare their own programmes of action for every stage. — VNS

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