Vietnam Needs US$100B for Infrastructure Projs in Next 5 Years: EuroCham CEO
Vietnam will need US$100 billion for its infrastructure projects in next five years, Alain Cany chairman of the European Chamber of Commerce in Vietnam (Eurocham) said at an investment summit in Ho Chi Minh City on June 8.
The Tuoi tre newspaper quoted Alain Cany as saying that Vietnam’s huge capital demand and its open policies will attract a large influx of foreign investors.
At the event, Deputy Minister of Planning and Investment Dang Huy Dong said that Vietnam will issue specific regulations on the public-private partnership (PPP) model soon to call for more private capitals.
Vietnam will prioritize the PPP on transport infrastructure projects, power and water projects, Dong said, adding that the country may apply the model for US$55.8-billion North-South expressway railway which is still under discussions.
The Southeast Asian country is in dire need of capital for developing infrastructure projects nationwide. It plans to raise VND56 trillion from bond issuances for its major infrastructure projects this year.
In 2009, the nation invested a total of VND708.8 trillion in development projects, up 15% on-year, including VND228.24 trillion for major infrastructure projects, up 98% from a year earlier. (Youth)
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