There is a growing need to better integrate and connect domestic markets to ensure that any potential slowdown in exports can be offset by higher domestic demand.
To lure more foreign investment in infrastructure, Vietnam needs to have a clear public-private partnership (PPP) framework.
The government’s fresh message to continue investing heavily in infrastructure development in a bid to attract more investment has received a thumb-up from the business community, with many enterprises wishing to engage.
The transport ministry is seeking to advance the construction of four expressways, including two in the Mekong Delta.
By virtue of its favorable position and improved infrastructure, Thai Nguyen province has been wooing an influx of investors for the construction of residential and commercial projects to satisfy the increasing demand.
Vietnam is now a magnet for overseas financiers wishing to implement infrastructure initiatives before transferring them to the state.
Nine major expressways that cost VND128 trillion ($5.5 billion) have considerably sped up connections between Hanoi and northern localities.
All fields, except for security and national defense, must be open for investment, said Prime Minister Nguyen Xuan Phuc.
On October 29, Deputy Minister of Construction Nguyen Van Sinh had a meeting with the Deputy Minister of Land, Infrastructure, Transport and Tourism of Japan – Mr. Hideki Hirai on smart city development in Vietnam.
Private investors, especially foreign investors, remain skittish about investing in infrastructure projects due to high risks, long-term payout schedules, and site clearance issues.
The Ministry of Transport has announced that only local contractors will be chosen to implement the eastern North-South Expressway and launched a preliminary bidding session in October for eight sections of the project.
The Ministry of Transport has issued a statement regarding the selection of investors for a projectto build a number of routes in the eastern section of the North-South Expressway.
The central province of Nghe An called for investment in 117 projects ranging from infrastructure and industry to agriculture and services until 2030 at a conference held on September 20 in Ho Chi Minh City.
The Vietnamese government expects that at least $48 billion will be needed to invest in developing the country’s infrastructure system over the next few years. Bill Magennis, head of Vietnam at international law firm Allens and Huyen Nguyen, senior associate, explained how Vietnam can attract both domestic and foreign investment into this sector.
The northern key economic region has advantages over other regions in the country to develop, especially in terms of infrastructure and human resources, Prime Minister Nguyen Xuan Phuc said at a conference held in the northern province of Hung Yen on June 25.