The Ministry of Transport’s Directorate for Roads of Vietnam (DRV) has offered six solutions to attract more investment in road infrastructure projects in the public-private partnership (PPP) form.

Vietnam is expected to have 5,000 km of expressways by 2030 and 9,014 km by 2050.

Head of the DRV, Nguyen Xuan Cuong, said that about VND900 trillion ($38 billion) is needed for Vietnam’s road network by 2030, in which expressway projects require VND728 trillion ($30.7 billion). The capital is expected to come from the State budget, non-State budget, and other legal sources.

Therefore, “capital resources for traffic infrastructure projects are necessary and breakthrough mechanisms and solutions are needed to attract more investment capital,” Mr. Cuong said.

Therefore, he went on, the DRV proposes:

First, to consider certain policies and solutions to attract investors to PPPs.

Second, to permit credit institutions to extend the credit space regulated by the State Bank of Vietnam to lend to key national projects.

Third, to prioritize the allocation of State budget funds for road infrastructure, especially key national projects.

Fourth, to drastically reform administrative procedures, from preparation to implementation, to shorten construction time at projects.

Fifth, to decentralize the management of traffic infrastructure investment to localities with sufficient capacity and experience, and to clearly define the responsibilities of localities towards road infrastructure investment.

Sixth, to complete breakthrough institutions and policies, including the promulgation of the revised Law on Road Traffic, allowing localities to invest in the construction of national highway and expressway sections in their locality.