Vietnam Needs US$26.87Bln for Expressways to 2010-Ministry
Vietnam is estimated to require VND430 trillion (US$26.875 billion) to build 2,775 kilometers of expressways from now to 2020, the Ministry of Transport said in a plan that has been submitted to government for approval.
The ministry calculates that 30 per cent of the sum will be sourced from ODA, 40 per cent from BOT, 5 per cent from construction bonds, 5 per cent from ORC and 20 per cent from the state budget.
The investment is crucially needed as Vietnam’ economy is expected to grow 8.5 per cent in 2007 and 9.5 per cent in 2008. It has no international standard expressway, said senior experts during a conference on the issue held December 21 in Hanoi.
International organizations including the World Bank, the Asia Development Bank, and the Japan Bank for International Cooperation have shared their experience in raising investment to develop and manage expressways.
They noted that Vietnam should complete its legal framework facilitating the development of expressway system.
Earlier, international donors have pledged to provide Vietnam with official development assistance of US$5.426 billion for 2008, of which 50 per cent is expected to be injected into infrastructure projects. (Saigon Liberation, Labor)
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