Transport Minister Nguyen Van The (Photo: VNA) Hanoi (VNA) – Transport Minister Nguyen Van The reported to the National Assembly the pace of implementation and investment disbursement of two key infrastructure projects, the eastern section of the North-South Highway and the Long Thanh International Airport, during the NA’s debate on October 29. Giving explanation in response to NA deputies’ concerns over the North-South Highway – East project, Minister The said the transport ministry has received 112 inspection and auditing delegations over the past three years. He affirmed that the ministry has followed the investment process and procedures as required by law. The project comprises 11 component projects, which all require the Transport Ministry to conduct environment impact assessment and work with related localities on clearance work and project’ details such as the scale, location of the highway, positions of underground tunnels and … [Read more...] about NA’s 6th session: Transport Minister reports on pace of key infrastructure projects
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Directing FDI into large transport infrastructure projects
The North-South Expressway is one of the projects that is calling for foreign investors Seaport projects pushing ahead Four months after since the first shipment in May 2018, the construction of the first and second container ports of Haiphong International Port (component B) with the total investment about $321 million has begun, hoping to attract more international shipping lines to the country. The project is developed by Haiphong International Container Terminal Co., Ltd. (HICT), a joint venture between Saigon New Port, Japan’s Mitsui OSK Lines (MOL), Taiwan’s Wan Hai Lines (WHL), and Japan’s Itochu Corporation (ITO). Haiphong International Port is the first deep-water port in the key economic region in North Vietnam, which is capable of receiving vessels up to 14,000 TEU and cargo ships up to 160,000 DWT. From this port, the import and export goods from North Vietnam can be directly transferred to Europe, America. In addition, HICT’s project is only one … [Read more...] about Directing FDI into large transport infrastructure projects
HCM City, AIIB look to work together in infrastructure projects
Vice Chairman of the municipal People’s Committee Le Thanh Liem on September 13 met with AIIB Vice President Joachim Von Amsberg who was in Vietnam for the World Economic Forum on ASEAN (WEF ASEAN) 2018. (Photo: VNA) HCM City (VNA) – Ho Chi Minh City and the Asian Infrastructure Investment Bank (AIIB) hope to enhance their ties to facilitate infrastructure development in Vietnam’s southern economic hub. The news came after Vice Chairman of the municipal People’s Committee Le Thanh Liem on September 13 met with AIIB Vice President Joachim Von Amsberg who was in Vietnam for the World Economic Forum on ASEAN (WEF ASEAN) 2018. Welcoming Amsberg to the WEF ASEAN in Hanoi, Liem said this year’s event aimed to address key issues in ASEAN nations in the era of the fourth Industrial Revolution (Industry 4.0), relevant to HCM City’s aim to become a smart city. The city is facing big challenges like climate change, traffic congestion and pollution that … [Read more...] about HCM City, AIIB look to work together in infrastructure projects
Key transport infrastructure projects face capital shortage
Key transport infrastructure projects face capital shortageThe Saigon Times Daily A section of the North-South Expressway is opened to traffic – PHOTO: VNA HCMC – Many major transport infrastructure projects such as the North-South Expressway, and Ring Road No.2 of HCMC may fall behind schedule due to shortages in investment capital and complicated mechanisms, reported Thanh Nien newspaper. The total length of the North-South Expressway will be some 2,100 kilometers, spanning 32 provinces and cities. The project has been divided into three phases. The first phase of 11 sub-projects requires an estimated VND104 trillion (US$4.4 billion), including over VND40 trillion (US$1.7 billion) from the State budget, to develop 650 kilometers of the cross-country expressway between 2017 and 2020. As such, the remaining capital will be mobilized under the public-private partnership (PPP) model. Similarly, HCMC is an important economic center of Vietnam, but the funds from the … [Read more...] about Key transport infrastructure projects face capital shortage
City looks for financing privileges to fund infrastructure projects
City looks for financing privileges to fund infrastructure projects Van Nam HCMC – The HCMC government is seeking approval from the Government for a special financing mechanism which will allow the city to make comprehensive infrastructure investments. In a report sent to the Prime Minister and relevant ministries on Tuesday, city leaders proposed the Government continue allocating funds from the central budget for key projects, and giving HCMC more power and responsibility to use capital sources for urban infrastructure development. Besides, HCMC is looking to apply land rent exemptions at locations used for public traffic projects approved by the Government such as parking lots, vehicle maintenance stations, ticketing booths, public restrooms, green parks and internal roads. The city also wants to prioritize the budget and official development assistance (ODA) loans for important projects of key economic areas. It will also focus on planning, construction and development of … [Read more...] about City looks for financing privileges to fund infrastructure projects