Want to be in the loop?
subscribe to
our notification
Business News
CONSTRUCTION OF SUB-PROJECTS OF NORTH-SOUTH EXPRESS SCHEDULED NEXT WEEK
Construction is scheduled to officially begin on three sections of the Eastern North-South Expressway on September 30, the Ministry of Transport said Friday.
The sections are Mai Son-National Highway 45, Vinh Hao-Phan Thiet, and Phan Thiet-Dau Giay.
Due to negative impacts of the COVID-19 pandemic, the National Assembly recently approved the Government’s proposal to change investment form of the three sub-projects from public-private partnership to public investment.
With the Legislature's approval, the expressway consists of six sub-projects to be funded by the State budget.
The North-South Expressway, which is of national priority for investment in the 2017-2020 period, involves the development of 654 kilometers of expressway passing through 13 cities and provinces, with total investment capital of approximately VND119 trillion (nearly US$5 billion).
It was divided into 11 sub-projects: Cao Bo (Nam Dinh) - Bai Vot (Ha Tinh province); Cam Lo (Quang Tri) - La Son (Hue); Nha Trang (Khanh Hoa) - Dau Giay (Dong Nai); My Thuan 2 bridge (Tien Giang and Vinh Long); Cao Bo (Nam Dinh) - Mai Son (Ninh Binh), Cam Lo (Quang Tri) - La Son (Thua Thien - Hue), and My Thuan 2 bridge (Tien Giang to Vinh Long).
Last month, Deputy Prime Minister Trinh Dinh Dung urged the Ministry of Transport to accelerate progress of the Eastern North-South Expressway so that it could be completed by 2021 and put into operation in 2022.
Up to now, more than 1,000 kilometers of expressway have been built in Viet Nam, while an addition of 900 kilometers are set to be completed by the end of 2021.
During the 2021-2025 period, Viet Nam plans to have at least 2,000 kilometers of expressways and by 2025, the figure would be 4,000 kilometers stretching from the northern province of Lang Son to the southernmost province of Ca Mau.
Source: VGP
Related News
CUSTOMS BUDGET REVENUE EXPERIENCES 3% DECLINE IN Q1
Vietnam’s import and export value reached a total of US$145.59 billion in the first quarter (Q1) of 2024, marking a year-on-year growth of 18.2%. However, the customs budget revenue saw a 3% year-on-year decline, amounting to VND71,520 billion in the quarter, thereby achieving 19.1% of the full-year target.
RAPID LAW IMPLEMENTATION MAY PROPEL MARKET FORTUNES
“Investors and developers are looking forward to the implementation of the new law, which will remove obstacles for a range of projects that are struggling due to stalled procedures and lack of legality. For them, the earlier the better,” he said.
NATION URGED TO BUILD ON ECO-IP MODEL
Industrial parks (IPs) involved in an initiative that aims to help push them into the realm of being classed as eco-parks have seen improvements across a string of indicators, according to a review event in Ho Chi Minh City last week.
YEN LU INDUSTRIAL PARK: NEW DESTINATION FOR INVESTORS
Bac Giang is a destination chosen by many domestic and foreign investors thanks to its locational advantages and its most opening and favorable investment policies. Assisted by local authorities, Capella Land Joint Stock Company has effectively invested in industrial zones, especially Yen Lu Industrial Park - a new destination for investors, to contribute to the province’s success in investment attraction.
OPTIMIZING LEGAL AND REGULATORY FRAMEWORKS FOR EFFICIENT PUBLIC INVESTMENT DISBURSEMENT
According to the Ministry of Planning and Investment, a 1% increase in public investment raises GDP by 0.058%, and each VND1 disbursed stimulates an extra VND1.61 from the non-state sector. However, plan implementation often falls short at around 80% annually, despite government efforts.
NATION URGED TO BUILD ON ECO-IP MODEL
For the 2020-2024 project, three IPs were selected for the transformation including Deep C Industrial Zones in the northern city of Haiphong, AMATA City Bien Hoa in the southern province of Dong Nai, and Hiep Phuoc IP in Ho Chi Minh City. Over the last four years, the level of compliance with the international framework on eco-IPs for all pilot complexes has increased in terms of environment, economy, and management.