THE SOCIALIST REPUBLIC OF VIET NAM
Government News
VN’s infrastructure development on right track
VGP - Business Monitor International (BMI), an international market surveying company, stated that with increasingly bigger amounts of foreign direct investment, Việt Nam is developing key infrastructure works in a right way to improve its business environment.
In its Việt Nam Infrastructure Report Quarter 3, 2010, published on
Companiesandmarkets.com on May 11, BMI assumed that the country sees stronger
growth amid better economic conditions, although its business environment is
similar to that in other countries in the Asia-Pacific region.
An expressway section from Hồ Chí Minh City to
Trung Lương – Photo: Internet
The report says “Major infrastructure projects were thick on the ground
this quarter, as both transport and energy developments were announced.”
In March, PM Nguyễn Tấn Dũng approved a fund of over US $18 billion for
developing the road system, including more than 5,000 km of expressways
nationwide.
In the power sector, the Vĩnh Tân 3 Energy Company (VTEC) has been
allowed to build the country’s biggest thermoelectric plant with the investment
of up to US $2.5 billion. The plant will start in late 2011 and come into operation
in 2014 or 2015.
BMI estimates that Việt Nam’s industry will reach the market value of
VND126 trillion (nearly US $6.7 billion) in 2010 and VND 260 trillion (roughly
US $14 billion) in 2014.