Investment

At a cooperation conference between Hai Phong city and Hai Duong and Quang Ninh provinces in the 2022-2025 period, held on March 13, the three northern localities agreed to continue to focus on investing in transport infrastructure and to closely link the economic triangle of the Northern Key Economic Region with the rest of the country.

As of February, the Ministry of Transport (MoT) had disbursed VND2.3 trillion ($100.53 million) in public investment capital this year, focusing on expressway projects, urgent railway and road projects, and other key projects. It will disburse VND3.5 trillion ($152.98 million) in March.

A series of important cooperation documents worth billions of USD have just been signed with foreign investors' commitments to continuing expanding investment, showing investors' confidence in Vietnam's investment environment. Accordingly, the goal of attracting $40 billion of FDI capital in 2022 is considered completely feasible.

According to the Ministry of Transport, in order to connect the Ho Chi Minh Highway and create a second north-south link, nearly VND11trillion ($482 million) is needed to invest in three more component projects. The Ho Chi Minh Highway stretches 2,744 km, with construction beginning in 2000 and completion expected in 2025.

The Prime Minister has approved the task of planning for Hanoi in the 2021-2030 period and vision to 2050 to develop a capital worthy of being the country’s focal point. Planning has a total natural area of 3,358 sq km and its formulation is to be basically completed before December 31.

A number of important cooperation documents worth billions of USD have been signed recently, with foreign investors committing to further expanding their investment and revealing their confidence in Vietnam’s investment environment. The goal of attracting $40 billion in FDI this year is entirely feasible.