A series of projects with total capital of USD66bn for the 2017-2022 period have been submitted to the National Assembly for consideration.
One of the most important projects is the 1,373km north-south expressway linking Hanoi to Ho Chi Minh City. The expressway will have four to six lanes and cost a predicted USD10bn.
VND93.5trn (USD4.2bn) will be taken from state budget for ground clearance and consultancy with the remainder sourced from private investment. VND70trn from the government bonds will be used as the state’s capital contribution. The mega project will divided into 20 smaller projects.
Another huge project on the list is Long Thanh International Airport in Ho Chi Minh City with capacity to serve 100 million passengers per year. This would cost an estimated USD16.3bn.
In the first phase from 2019-2025, a runway and a terminal to serve 25 million passengers a year will be completed at USD5.9bn. State's funding for this period is USD979.8m, most of it will be used for ground clearance and relocation.
The north-south expressway
cost a predicted USD10bn
During 2016-2020 period, the government will research the feasibility of the north-south high-speed railway project and necessary resources. The construction may be started from 2022 to 2030 and expected to be completed by 2050.
Japan and South Korea have expressed interest in giving support to build some sections from Hanoi to Vinh City or Nha Trang to HCM City.
For the electricity infrastructure projects, the government proposed nearly VND858trn (USD40bn) investment for the 2016-2020 period, of which 75% would be spent on developing power sources and the remainder earmarked for improving the national grid.
VND200trn (USD8.9bn) will come from ODA loans, VND100trn from foreign investment, VND4trn from the state budget and VND554trn from the project investors and commercial loans.
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