Long Thành airport is currently under construction. Việt Nam is focusing on development infrastructure with public investment. — VNA/VNS Photo

HÀ NỘI — Việt Nam is accelerating public investment to create momentum and drive sustainable economic growth by prioritising and rapidly executing strategic infrastructure projects, including railways, highways and maritime routes like the North-South Expressway. 

According to Võ Quang Thuận, former chairman of the Association of Small and Medium Enterprises of Bình Phước Province, public investment is a crucial driver of socio-economic development, as demonstrated by its prioritisation in many developed nations. 

For Việt Nam, aligning with this global approach can enable the country to advance confidently into a new era of modernisation and global integration. 

This transformation is underpinned by a series of comprehensive policy frameworks established by the Politburo, including Resolution 57-NQ/TW on breakthroughs in science, technology, innovation, and digital transformation; Resolution 59-NQ/TW on international integration; Resolution 66-NQ/TW on legal innovation; and Resolution 68-NQ/TW on private sector development. 

These policies establish a solid foundation for public-private cooperation in infrastructure development, enabling private enterprises to make significant contributions to national projects. 

Thuận said that Việt Nam’s evolving policy environment has allowed private enterprises to participate in public investment projects alongside state-owned entities -- provided they meet the necessary criteria. 

With advancements in technology, workforce development, and financial management, many private companies now rival or even outperform state-owned enterprises in terms of capability. 

However, realising this potential requires not only favourable policies, but also a shift in administrative activities. The success of public investment depends on resolving institutional bottlenecks, streamlining regulations and executing reforms aligned with national development goals.

A notable example is the private sector's bold proposal to invest over US$61 billion in a high-speed railway system following the National Assembly’s approval of the North-South High-Speed Railway Investment Project. 

Lương Minh Phúc, director of the HCM City Transport Construction Investment Project Management Board (TCIP), confirmed that public investment plays a critical role in facilitating private investment. The synchronised development of infrastructure -- especially in the southern region -- is a catalyst for broader socio-economic development.

Việt Nam has made significant progress in road infrastructure. As of early 2025, the country has completed 2,238km of expressways, and is set to reach nearly 2,800km by September. 

Furthermore, several infrastructure projects under the public-private partnership (PPP) model are gaining traction. 

Of these, the HCM City - Thủ Dầu Một - Chơn Thành expressway in Bình Dương, which is valued at more than VNĐ8.8 trillion, has begun construction.

The Tân Phú - Bảo Lộc expressway (VNĐ18 trillion) and Chơn Thành - Gia Nghĩa expressway (VNĐ25.9 trillion) are moving into construction phases.

Other major projects, such as the HCM City - Mộc Bài expressway and the Bảo Lộc - Liên Khương expressway, are in site clearance and preparatory stages.

These projects signal strong momentum and a promising future for infrastructure-led economic development.

Director of the HCM City Institute of Natural Resources and Environment Phạm Viết Thuận has emphasised the importance of well-developed transport infrastructure, including ring roads, to enable the efficient movement of goods and services and redefine spatial development.

The anticipated launch of major infrastructure projects such as Ring Road 3 - HCM City and Long Thành International Airport is expected to create a comprehensive, modern, multi-modal transport system. This will enhance inter-regional connectivity and strengthen Việt Nam’s position in the global marketplace.

Việt Nam’s leadership has committed to promoting breakthrough development through public investment. With a clear emphasis on cutting red tape and improving institutional efficiency, the Government is laying the groundwork for faster and more effective project implementation.

The resolutions, along with measures to decentralise authority and enhance local governance capabilities, are helping to unlock the full potential of infrastructure investments. 

These initiatives are not only revitalising public investment but are also catalysing private sector involvement, which will be crucial to Việt Nam’s long-term economic resilience.

Việt Nam’s public investment efforts are gaining significant results, with total capital disbursed from the beginning of 2025 through May 31 estimated at VNĐ199.33 trillion ($7.65 billion), according to a new report from the Ministry of Finance.

This figure accounts for 22.2 per cent of the yearly plan and 24.1 per cent of the target assigned by the Prime Minister, marking a stronger pace than over the same period last year, when disbursement stood at 20.3 per cent of the plan and 21.6 per cent of the Government’s allocation. — VNS