$8bln to be poured into north-central and central coast

Forty-five funding commitments from international partners and sponsors, five MoUs on investment cooperation, and 16 investment certificates totaling about $8 billion in value are expected to be awarded or signed at a conference on February 5 to implement the government’s execution program for Resolution No. 26-NQ/TW dated November 3, 2022 from the Politburo.

A group of development banks will commit to financing 45 development projects in Vietnam’s north-central and central coast regions totaling about $1.7 billion, including ODA and foreign concessional loans. The capital will be invested in the development of transport infrastructure, urban areas, irrigation, agriculture, and climate change response.

In addition, investment certificates will be awarded to 16 projects from domestic and foreign investors, with total registered capital of $5.6 billion. MoUs on investment cooperation will also be signed for five projects with capital of nearly $700 million.

“These projects are expected to turn the north-central and central coast regions into dynamic and sustainable regions based on advantages from marine economies,” said Deputy Minister of Planning and Investment Tran Duy Dong.

The government’s execution program also sets out 34 specific tasks and eleven investment projects in transport infrastructure assigned to ministries and sectors to implement under a specific timeline.

In addition to announcing the government’s action plan to implement Resolution No. 26-NQ/TW, the conference will include investment promotion activities seeking domestic and foreign partners to accompany the government in executing development programs and projects in the north-central and central coast regions.

The goal is that, by 2030, the two regions will see remarkable development in their marine economies, having modern and synchronous socio-economic infrastructure that is highly resistant to natural disasters and epidemics and effectively adaptable to climate change, and opening industrial, service, and international cooperation centers with coastal economic zones and coastal urban systems of national and regional standards, developed to become gateways to the sea for Vietnam’s central highlands’ region and Laos.