Lobster farmers harvest in Đầm Môn area in the coastal central province of Khánh Hòa. —VNA/VNS Photo Đặng Tuấn

HÀ NỘI — The World Bank’s Board of Executive Directors has approved three new projects totalling US$666.74 million in Việt Nam, aiming to strengthen the trade corridors that carry the country's agricultural and manufactured exports to markets and bolstering the coastal fisheries sector.

In Hải Phòng, Việt Nam's principal northern port and third-largest city, the Hải Phòng City Resilience Development Project, worth $260.1 million, will build a new section of Ring Road 3, reducing truck travel time between key locations.

It will also expand wastewater treatment and protect the historic city centre from flooding, benefiting more than 311,000 residents. Construction is expected to employ approximately 10,700 casual workers and 2,300 professionals.

In the Mekong Delta, the Mekong Resilient Regional Connectivity Project, worth $251.12 million, will rehabilitate 251km of key highways to international road safety standards.

The improvements will provide reliable year-round connectivity for 856,800 direct users and help farmers move goods to market during heavy rainfall. Construction is expected to generate approximately 10,900 jobs annually.

Across the north, central and Mekong Delta regions, the Sustainable Fisheries Development Project, worth $155.52 million, will modernise nine fishing ports and build infrastructure network and capacity to promote sustainable, climate-resilient fishing and aquaculture practices.

More than 525,000 fishers, aquaculture farmers, and coastal residents are expected to benefit from higher incomes, better seafood quality, and reduced post-harvest losses, with women accounting for at least half of direct beneficiaries.

Mariam J. Sherman, World Bank Division Director for Việt Nam, Cambodia and Lao PDR said better transport corridors and urban services lower the cost of doing business, and that is how infrastructure turns into growth and jobs.

“These operations will help Việt Nam improve competitiveness while managing climate risks and using its natural resources sustainably,” she said.

These operations are supported by loans from the International Bank for Reconstruction and Development (IBRD), the World Bank Group's lending arm for middle-income governments. — VNS