Investment

Out of a total of nearly VND273 trillion ($11.1 billion) in the medium-term capital plan for the 2021-2025 period, investment for the development of national railway infrastructure stands at more than VND15 trillion ($611 million), or 4.7 per cent.

Twenty-three enterprises from the Austrian state of Styria attended the “Styria-HCMC State Economic Forum” on October 18 to explore investment opportunities in Ho Chi Minh City. The Investment and Trade Promotion Center of Ho Chi Minh City (ITPC) said Austria has 21 investment projects in the city with total capital of more than $42 million, ranking it 33rd out of 115 countries and territories with investments in the southern city.

Hai Phong has become the largest port logistics center in Vietnam’s north over the years, but upgrading to a national logistics center by 2025 and an international logistics center by 2030 will prove difficult. The city needs to promote the application of information technology and overcome a shortage of human resources.

HSBC believes that given it regularly invests heavily in infrastructure development, equal to 6 per cent of GDP each year, Vietnam is likely to lead the ASEAN region in this regard. To sustain strong economic growth and adapt to rising urbanization, the country needs to continue upgrading and expanding its existing infrastructure.

The Vietnam Expressway Development Investment Corporation (VEC) has proposed it self-balance investment capital to expand the Ho Chi Minh City - Long Thanh - Dau Giay Expressway from the existing four lanes to eight to ten lanes, costing VND14.7 trillion ($599 million). VEC believes the Long Thanh International Airport will be put into operation by 2025, which will exacerbate the overloading already seen along the expressway.

Despite being put into operation in August, the Trung Luong - My Thuan Expressway, which is part of the East North - South Expressway passing through the Mekong Delta’s Tien Giang province, is already showing signs of overloading. The Tien Giang Provincial People’s Committee has therefore proposed expanding the expressway using State budget capital.