Investment

To reach the goal of disbursing more than VND50 trillion ($2.19 billion) in investment capital in 2022, Minister of Transport Nguyen Van The has been directing the speeding up of the process since the beginning of the year. He has also directed specialized departments to propose amendments to laws in line with actual circumstances, focusing on the Law on Aviation, the Law on Inland Waterways, the Law on Maritime Affairs, and the Law on Railways.

The Prime Minister has approved a project on infrastructure construction and business at the Nhuan Trach Industrial Park (IP) in northern Hoa Binh province. The project is on 200 hectares with total investment of nearly VND2.4 trillion ($104.7 million).

The Ministry of Transport (MoT) has directed the My Thuan Project Management Board to complete procedures for two highway projects, An Huu - Cao Lanh and My An - Cao Lanh, passing through the Mekong Delta’s Dong Thap province and with total investment of nearly 11 trillion VND ($480 million), before the third quarter, so they can be deployed as soon as possible.

According to the Ministry of Transport (MoT), technology infrastructure for connecting and sharing data from surveillance cameras is being completed and accounts will be granted to local Departments of Transport in February. This will be an effective tool for the Departments to manage transportation activities in their locality.

According to data from the Vietnam Maritime Administration, the volume of goods passing through Vietnam’s seaports in the first two month of this year stood at nearly 117 million tons, up 7 per cent over the same period last year. The Administration’s project on the development of Vietnam’s international shipping fleet, to be issued this year, will improve import and export activities, increase transport market share, and drive growth in cargo passing through seaports. Vietnam’s shipping fleet currently has nearly 1,500 vessels with a total of over 11.6 million deadweight tons (DWT), ranking it third in ASEAN and 28th globally.

The Prime Minister has approved the master plan for northern Bac Giang province in the 2021-2030 period and vision to 2050. The plan sets a goal that, by 2030, Bac Giang will become a modern industrial province and be among the 15 cities and provinces in the country with the highest gross regional domestic product (GRDP). By 2050, it will become a modern, comprehensive, and sustainable industrial province.