Over the past decade, the active participation of Vietnam in competitive, export-oriented and service industries has resulted in a corresponding increase in its economic modernisation. The country’s total freight and logistics volume has more than tripled which calls for Vietnam’s urgent need to upgrade its transport infrastructure to sustain further economic development. Road transport currently plays an important role in Vietnam and calls for further infrastructure developments. Currently, Vietnam’s road system is about 258,200 km long of which only 19% is paved and 40% of the network is in poor condition. Under the Vietnam Transport Strategy Vision 2030, there are 44 planed PPP projects with a total investment value worth up to USD 120 billion in the road and power sectors, majorly construction of 2000 kilometres of express highways across Vietnam landscape. In the aviation sector, the Vietnam Government looks forward to upgrading most of the existing 23 airports and develop new airports with a total investment of USD 13.4 billion, the most important project being the Long Thanh International Airport with a total investment of USD 6.7 billion for phase 1.
In the railway sector, transport development under Vision 2030 will lead to major expansions in metro and monorails across Vietnam and the neighbouring nations improving the inter-connectivity, reducing private vehicle proprietorship and improving the air quality subsequently. The North-South railway expansion from Hanoi to Ho Chi Minh City has been one of the most significant projects with an estimated investment of VND 350 trillion (USD18.5bn) to be completed by 2020. One of the fastest-growing economies in South East Asia, undoubtedly, it has been attracting the eyes of investors for transportation infrastructure, and mainly drawing inclination towards many public-private partnership projects to build a competitive, integrated, inclusive and sustainable transportation system in Vietnam.
Highlights of 4th Annual Transport Infrastructure – Vietnam: