Vietnam Seeks US$12 Bln for 68 Infrastructure Projects by 2020

Vietnam will need up to US$12 billion for 68 infrastructure projects in 15 major provinces and cities from now up to 2020, according to the Ministry of Planning and Investment (MPI).

 

The MPI January 14 held a conference with aims to promote investments for infrastructure fields such as traffic systems, infrastructure, sewage plants, water supply and drainage systems, the ministry noted.

 

The government will use ODA loans by the French and Spanish governments, the German Reconstruction and Development Bank, the Japan International Cooperation Agency and the Asian Development Bank for 30 per cent of the projects and called on private sector, joint ventures for the remaining projects under build-transfer and build-operate-transfer models.

 

Deputy Minister of Planning and Investment Truong Van Doan told the conference that Vietnam has pumped up to 13.5 per cent of its total investment funds into infrastructure development over the past years.

 

Doan praised effective assistance of donors and international organizations and hoped further aids in the coming times.

 

Vietnam is among Asia-Pacific countries which witness fastest urbanization, said Dean A Cira, World Bank urban-sector coordinator in Vietnam.

 

The country is now home to 731 urban areas. (Labor, Vietnam Economic Times, VNA)