Vietnam to Spend US$85.6 Bln on Public Works by 2010
Vietnam will invest more than VND1,370 trillion (around US$85.6 billion) to develop its public infrastructure projects by 2010, said the Ministry of Planning and Investment (MPI).
Of the sum, VND960 trillion will be poured into electricity, paper, cement, coal, chemicals and engineering that serve the development of agriculture, shipbuilding and transport network.
Over VND310 trillion will be injected in the social sector and the remaining capital will be channeled into security and national defense projects.
Meanwhile, industrial parks and economic zones will be offered priority in capital supply for infrastructure construction.
The total capital for these works, which accounts for over 62 per cent of the ministry’s budget for public investment between 2006 and 2010, will be mobilized from the State budget and Official Development Assistance (ODA).
It will also come from businesses’ investment and government bonds issued at home and abroad.
According to the MPI, Vietnam used roughly VND680 trillion to develop its public in infrastructure works in 2001-2005 period, with focus on helping communities in remote areas upgrade infrastructure and public facilities.
According to VinaCapital Infrastructure Fund, the Southeast Asian country needs about US$140 billion to develop its infrastructure networks from now till 2020 in a bid to become an industrialized nation. (VNA)
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