US$512Mln Earmarked for Vietnam's Transport System Improvement

International donors and the Vietnamese government have recently decided to inject US$512 million to improve the country’s northern waterway and Mekong Delta road networks, state media reported.

 

In the first project, the World Bank (WB) will fund US$200 million to upgrade the river transport network such as to dredge the river bed, build new cargo ports in the northern region.

 

Accordingly, three key waterway routes include the 280-km section linking Quang Ninh, Haiphong, Pha Lai, Hanoi, and Viet Tri, the 292-km waterway section linking Quang Ninh, Haiphong and Ninh Binh with 1.8-3.3 meter depth and the 187-km section linking Hanoi to Day/Lach Giang with 2-2.2 meter depth.

 

Around US$1 million will be used to set up dozen of ferries, said a WB official. However, he did not mention about the project’s construction schedule and any details.

 

In the second project, the WB will provide a loan worth US$207.66 million, the Australia government is committed to offering US$25 million in non-refundable aids, and Vietnamese government will contribute US$79.36 million in reciprocal capital.

 

The investment will be used to improve the current infrastructure, reduce traffic jams and accidents, and to boost socioeconomic development.