Vietnam Needs US$67.5Bln for Traffic Works by 2020

The Vietnamese growing economy needs a huge investment of around US$67.5 billion from now until 2020 to build new traffic works, upgrade existing transport systems, and reduce rampant traffic accidents and congestions, said state media.

 

About US$20.1 billion will be poured into road works, US$44.3 billion for railway projects, US$548 million for sea traffic system, and US$2.6 billion for air traffic system.

 

“The mobilization of such a huge sum of capital for the plan is vital and not easy. The current sources are now able to afford only US$4.4 billion or 6.53 per cent of the total,” the Ministry of Planning and Investment said, implying that a large sum will be raised from various other channels.

 

Key traffic projects include North-South highway, Vietnam-China highway, Ho Chi Minh expressway, national roads, bridges, North-south express railway, Yen Vien-Lao Cai, Lao Cai-Hanoi-Haiphong and Dong Dang-Hanoi railways.

 

The plan will also focus on constructing container transshipment terminals in Van Phong economic zone, and a seaport in Haiphong, in addition to Long Thanh international airport, Duong To-Phu Quoc air route, and terminals in Noi Bai and Danang airports. (VietnamNet)