Investment

Deputy Prime Minister Le Van Thanh has requested that the central highlands’ Lam Dong province begin construction of the Tan Phu - Bao Loc Highway in October and finish it in 2025. With investment of VND16.2 trillion ($711.24 million), the highway is 66 km in length and passes through Lam Dong and Dong Nai provinces. It will play an important role in regional economic and tourism activities.

Construction of a traffic link connecting National Highway No. 91 and the Long Xuyen bypass through the Mekong Delta’s An Giang province and Can Tho city will begin on January 15 and cost over VND2.1 trillion ($82 million). The project will promote socio-economic development in An Giang and the Mekong Delta region as a whole.

Capital demand for the development of Vietnam’s airport network to 2030 stands at some VND400 trillion ($17.55 billion); four times higher than the figure in the last decade. Large airports and logistics centers at eight airports will be prioritized. The vision to 2050 is for Vietnam to have 31 airports, including 14 international and 17 domestic.

The Ministry of Transport has said it plans to invest over VND11 trillion ($483.03 million) in three projects in the Mekong Delta’s Long An province, including upgrading National Highway No. 62 and National Highway No. N2, and completing the stretch of the Ho Chi Minh Highway passing through the province. It is expected that the Ministry will seek approval from the Prime Minister in the first quarter of 2022.

The first phase of the 26-km My An - Cao Lanh Expressway, passing through the Mekong Delta’s Dong Thap province and with total capital of over VND4.7 trillion ($206 million) from ODA loans of the South Korean Government, has been approved by the Prime Minister and will contribute to completing the Delta’s traffic network.

Vietnam’s overseas investment increased by over 38 per cent in November. But a reduction of nearly $1.2 billion in investment in oil and gas exploration and development and production in Russia by PetroVietnam in December resulted in a decline of nearly $370 million for the year as a whole. The country currently has 1,448 investment projects overseas, with total capital of nearly $21 billion.