Transport ministry seeks private funds for upgrades
Private capital is being sought to upgrade and build marine, waterway and railway transport systems in the country.
A bridge on the Da Nang - Quang Ngai Expressway (Source: VNA)The Ministry of Transport's Marine Department, for example, plans to release a list of 41 projects for marine infrastructure construction from 2015 to 2020 with total needed capital of 43 trillion VND (around 2 billion USD).
The Government will invite private investors to develop seaports and widen the narrow passage of rivers.
"Lach Huyen port is the final project that will have capital from the State budget," a representative of the department said.
The ministry also plans to approve 45 Build-Operate-Transfer projects from 2015-2020 with a need of 11 trillion VND (500 million USD).
"These projects will attract investors due to the high profits," Tran Van Tho, Deputy Head of the Ministry of Transport's Vietnam Domestic Waterway Department, was quoted as saying in the Thoi Bao Tai Chinh (Financial Times) newspaper.
For example, at the Tra Ly river mouth in the northern province of Thai Binh, two thermal power plants need coal of 9 million tonnes a year.
Boats have to travel 280 km from Quang Ninh to Thai Binh to reach the plant, but if the new domestic waterway route is built, the distance would be cut in half. Bigger vessels could also be used.
Railways will also seek private capital for 17 projects, mostly for infrastructure upgrading and construction.
The Government would invest in technical infrastructure in railway work and private investors would invest in stations, storages and support services.
Several important projects include the transfer of rights to explore several major routes such as Lao Cai – Hanoi – Hai Phong; and Hanoi – HCM City.
"The Vietnam Domestic Waterway Department will seek capital to upgrade some parts of domestic waterways, river gates and harbours," Tho said.
The department is also working with each investor to solve all procedures and difficulties.
"The Government will release policies on taxes, fees, interest rates and exchange rate in the railway sector. The Government will be responsible for ground clearance and railway technical infrastructure," Vu Ta Tung, General Director of the Vietnam Railway Corporation, said.
He said the corporation would create favourable conditions for investors.
"The State will stop investing in seaports" after private capital reaches 75-80 percent of the marine sector, expected in 2020, Minister of Transport Dinh La Thang said.-VNA
You should also see
Lang Son province seeks global status for local geopark
A dossier has been built by the People’s Committee of the northern mountainous province of Lang Son to seek the UNESCO recognition of Lang Son Geopark as a global one.
See more
Society
Da Nang teams up with CityNet for urban development
Leaders of the central coastal city of Da Nang on April 17 discussed cooperation measures with Jeong-kee Kim, visiting Chief Executive Officer of the Secretariat of CityNet, the regional network of local authorities for the management of human settlements.
Society
Books published to mark 70th anniversary of Dien Bien Phu Victory
The Su That (Truth) National Political Publishing House and the Party Committee of northern Dien Bien province on April 17 unveiled a series of books marking the 70th anniversary of Dien Bien Phu Victory.
Society
Roundtable talks challenges to energy systems of Vietnam, Russia
Challenges to the energy sectors of Vietnam and Russia, as well as solutions to them were discussed at an international roundtable held at Moscow Power Engineering Institute (MEI) on April 16.
Society
Remains of soldiers defending northern border reburied
A ceremony was held at the Vi Xuyen National Martyrs’ Cemetery in the northernmost province of Ha Giang on April 17 to pay tribute to and re-bury remains of nine soldiers who fell down in the battles defending the northern border.
Society
Better IT access enables PWDs to fully integrate into society
Over the past years, Vietnam has taken measures to assist persons with disabilities (PWDs) to access and use information technology, thus enabling them to integrate into the community to a greater extent.
