Hanoi (VNA) – The recent wave of infrastructure investment provides the momentum and confidence for Vietnam to advance toward its goal of becoming a high-income developed country by 2045.
To mark the 80th anniversary of the August Revolution and National Day, Vietnam simultaneously launched and inaugurated 250 major projects nationwide, with a combined investment of 2.78 quadrillion VND (about 105 billion USD).
This investment is equivalent to 28% of the country’s projected GDP for 2024. Spanning critical sectors such as transport infrastructure, clean energy, manufacturing, and digital infrastructure, these projects promise to deliver a powerful stimulus to Vietnam’s economy.
Private sector - A driving force
Among the 250 projects, 89 have been completed with an investment of around 220 trillion VND, including the opening of 208km of new expressways. This brings Vietnam’s total operational expressway length to nearly 2,500km. Meanwhile, 161 new projects have broken ground, representing about 1.06 quadrillion VND. Notable projects include the Ngoc Hoi Bridge connecting Hanoi and Hung Yen, expansion of the Long Thanh - Ho Chi Minh City expressway, the Ca Mau - Dat Mui expressway, and the Hanoi - Lao Cai - Hai Phong railway.
Vietnam’s success in mobilising investment draws from diverse sources. Only about 37% of the capital originates from the State budget, while a significant 63% comes from private investments and public-private partnerships (PPP). Private enterprises are increasingly active in sectors historically dominated by State capital, including transport infrastructure, renewable energy, education, healthcare, logistics, and manufacturing.
Experts see this shift as a strong signal of Vietnam’s improving investment climate. Dr. Le Quang Minh from Vietnam National University called it a sign of political will and macroeconomic stability that bolsters confidence among both domestic and international investors.
Strategic step for long-term growth
The simultaneous inauguration and ground-breaking of these projects mark a strategic effort to restructure the economy, improve growth quality, and boost national competitiveness. Once completed, modern infrastructure, especially in high technology and renewable energy, will provide a foundation for sustainable growth and deeper integration into global value chains.
These projects will also help reduce regional imbalances by fostering new growth hubs and economic corridors, especially amid administrative boundary changes.
Dr. Nguyen Bich Lam, former General Director of the General Statistics Office (now the National Statistics Office), estimated that efficient fund disbursement for these projects could add 0.4 to 0.6 percentage points to Vietnam’s annual GDP growth.
The scale of investment of nearly 1.3 million billion VND (about 51 billion USD), equivalent to 13% of GDP, marks a historic milestone. New infrastructure such as over 200 km of expressways, sea ports like Hon Khoai, Gia Binh airport, and major logistics hubs will create an integrated national network.
Dr. Minh noted that these developments will attract manufacturing and industry investors, generating opportunities in services, tourism, and real estate. Upgraded infrastructure will improve logistics efficiency, reducing travel time, fuel use, and vehicle wear.
He emphasised that to fully reap benefits, efficient operation and management are crucial. Transparent, professional management models are needed, especially for PPP projects. Management units should have operational autonomy while remaining accountable.
Localilities need to make plans on training engineers, specialists, and skilled workers capable of operating modern infrastructure, including power plants, data centres, and airports. Supporting service ecosystems - logistics, commercial centres, and urban development - are vital for maximising the potential of infrastructure projects.
Dr. Lam also highlighted the urgency of resolving 2,887 stalled or delayed investment projects, worth around 5.9 million billion VND (235 billion USD) and covering 347,000 hectares. Unlocking these will boost investment momentum and support Vietnam’s goal of double-digit growth from 2026 to 2030, he held.
Given limited public resources, mobilising private capital is essential. Strong State-enterprise partnerships will accelerate infrastructure completion and promote balanced, comprehensive development./.
