Prime Minister Approves Expressway Technical Assistance Project
Vietnam’s Prime Minister Phan Van Khai has just decided to allow the Ministry of Transport to receive a technical assistance project for the planned Hanoi-Lao Cai expressway.
The expressway is estimated to cost US$8 million for construction, of which $6 million will come from soft loans by the Asian Development Bank (ADB).
The PM also instructed the ministry to prepare for the bid to choose consultants for the project. Northern Lao Cai province is around 300 km north of Hanoi.
Vietnam and China plan to build the Kunming - Lao Cai - Hanoi - Haiphong corridor to boost bilateral trade. The two nations expect mutual trade turnover to reach US$10 billion in 2007-2008 and US$15 billion in 2010, from around US$5 billion in 2004 and US$8 billion expected for this year.
Capital Security
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