Investment

Deputy Prime Minister Le Minh Khai has signed Decision No. 1113/QD-TTg from the Prime Minister assigning State budget capital to the socio-economic recovery and development program. VND147.138 trillion ($6.2 billion) will go to ministries, central agencies, and localities according to sectors and fields specified in Resolution No. 43/2022/QH15 from the National Assembly.

Construction of the Tan Van - Nhon Trach section (component 1A) of Ring Road No. 3 in Ho Chi Minh City will begin on September 24, including two bidding packages for the road and Nhon Trach Bridge. The Tan Van - Nhon Trach section has a total length of 8.2 km, with 6.3 km in Dong Nai province and 1.9 km in Ho Chi Minh City. Only 2.8km has been built to date.

The Ministry of Transport (MoT) has made an announcement on the progress of a project to renovate and expand Con Dao Airport, off the coast of southern Ba Ria-Vung Tau province. The ministry directed relevant agencies and units to complete the necessary procedures and deploy the project soon, so it is put into operation in 2024.

The US Consulate General in Ho Chi Minh City, through the United States Agency for International Development (USAID), and the Ho Chi Minh City People’s Committee launched a project on September 20 to promote renewable energy solutions and efficient energy use to address the city’s urban energy challenges.

In order to begin construction of the Ring Road No. 4 - Capital Region project next June, Hanoi has set out 12 important tasks with detailed progress milestones, with investor selection to be conducted from December. The Ring Road No. 4 - Capital Region project stretches 112.8 km and has total investment of VND85.813 trillion ($3.6 billion), divided into seven component sub-projects. The preparation of investment and project implementation will begin shortly, with construction basically completed in 2026 and the route put into operation in 2027.

Ao Tien Port in northern Quang Ninh province, a specialized passenger port for sightseeing tourism on nearly 30 ha and with total investment of more than VND600 billion ($25.3 million), will be put into operation at the end of October. The modern port complex integrates many utilities and is designed under green space principles.