Construction of expressway connecting Southeast region with Central Highlands to start by end-2024

By Lan Do
Fri, July 5, 2024 | 12:13 pm GMT+7

The National Assembly has approved an investment policy for the Gia Nghia town (Dak Nong province)-Chon Thanh town (Binh Phuoc province) section of the North-South Expressway.

The project is expected to promote the socio-economic development of Binh Phuoc and Dak Nong, connect the Southeast region with the Central Highlands, and reduce the traffic load on National Highway 14 - the main artery connecting the two provinces.

Thanks to a special mechanism, the project is likely to be implemented within a year, rather than the two years it normally takes after the National assembly, the country's legislature, gave the policy the green light.

An artist's impression of the Gia Nghia-Chon Thanh expressway. Photo courtesy of Dak Nong province's People Committee.

An artist's impression of the Gia Nghia-Chon Thanh expressway. Photo courtesy of Dak Nong province's People Committee.

The Gia Nghia-Chon Thanh Expressway will run 128.8 km with four lanes and an expected speed of 100-120 km per hour. It will be started in 2024, completed in 2026, and put into operation in 2027.

The project is divided into five components, not including site clearance. Compensation, resettlement support, and the construction of feeder roads and overpasses passing through Dak Nong and Binh Phuoc provinces will be implemented in the form of public investment.

The preliminary investment for the project is more than VND25,500 billion ($1 billion). Of which, the central budget will contribute more than VND10,500 billion ($412 million), the local budget more than VND2,200 billion ($86 million), Binh Phuoc more than VND1,200 billion ($47 million), and Dak Nong VND1,000 billion ($39 million). The investor's capital contribution will reach more than VND12,700 billion ($500 million).

A number of large expressway projects implemented in recent times show that, with the specific mechanism for site clearance, many localities have achieved a rate of land delivery of 90–95% after only a year from the day the National Assembly has pressed the button, according to the Vietnam Highway Administration.

In the past, the procedure for preparing investment for expressway projects such as Gia Nghia-Chon Thanh usually took about two years from the date the National Assembly approved the policy, but thanks to a special mechanism, this time has been shortened by at least one year, which should significantly reduce any difficulties that arise during the projects.

Nguyen Nhan Ban, director of the Department of Transport of Dak Nong, said that after the parliament approved the policy, the department advised the provincial People's Committee to assign tasks to units so they could immediately start work.

The project has a total site clearance area through Dak Nong province of 261 hectares, including more than eight hectares of residential land, 1.58 hectares of rice cultivation land, and 25.1 hectares of land for growing other crops.

The total number of affected households is about 408, and about 250 households will be resettled at a cost of VND662 billion ($26 million).

Comments (0)
  • Read More
HCMC's first metro line officially operational after nearly 2 decades

HCMC's first metro line officially operational after nearly 2 decades

The first urban railway line in Ho Chi Minh City, named Ben Thanh-Suoi Tien, officially started commercial operations on Sunday after nearly two decades of waiting.

Infrastructure - Sun, December 22, 2024 | 2:17 pm GMT+7

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Domestic factors, including a ramp-up in Government infrastructure spending, a revival of the real estate market, and a recovery of consumer spending, will help sustain Vietnam's GDP growth at a circa 6.5% pace next year, in-line with the National Assembly’s official target and with 2024 GDP growth, write Michael Kokalari, chief economist at VinaCapital.

Consulting - Sun, December 22, 2024 | 2:00 pm GMT+7

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Many shipping and port stocks have risen sharply since November on an optimistic outlook for the industry driven by increasing throughput and a shift in container shipping alliances in 2025.

Companies - Sun, December 22, 2024 | 10:00 am GMT+7

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singaporean fund Platinum Victory Pte. Ltd. has registered to buy another 16.8 million shares in Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE), aiming to increase its ownership to nearly 45%.

Finance - Sun, December 22, 2024 | 9:29 am GMT+7

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

The Hai Phong Economic Zone Management Board has taken a significant step forward in enhancing infrastructure around Lach Huyen Port by establishing a council to appraise the environmental impact assessment for the road connecting terminals No. 3 to No. 6.

Economy - Sun, December 22, 2024 | 8:00 am GMT+7

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi police have issued an international arrest warrant for Le Khac Ngo, known as "Mr. Hunter," a key accomplice in a recently-dismantled massive foreign exchange and securities fraud ring.

Society - Sat, December 21, 2024 | 10:57 pm GMT+7

Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'

Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'

Leading global tourism companies have remarked that Phu Quoc has "yet to receive the recognition it deserves," despite its impressive and unexpected growth rate.

Travel - Sat, December 21, 2024 | 7:20 pm GMT+7

Thai central bank maintains policy interest rate at 2.25%

Thai central bank maintains policy interest rate at 2.25%

The Thai Chamber of Commerce (TCC) has said it backs the decision by the Bank of Thailand, the country's central bank, to maintain the policy interest rate at 2.25%, considering the move as suitable for a reviving economy.

Southeast Asia - Sat, December 21, 2024 | 5:43 pm GMT+7

Vietnam's military-run tech giant Viettel strikes big deals at international defence expo

Vietnam's military-run tech giant Viettel strikes big deals at international defence expo

Subsidiaries of Military Industry and Telecommunications Group (Viettel) signed a string of significant contracts with major global partners during the first two days of the Vietnam International Defence Expo 2024 in Hanoi.

Companies - Sat, December 21, 2024 | 5:36 pm GMT+7

Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion

Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion

Taiwan-headquartered Wistron, a top electronics provider and an Apple supplier, will further its investment in Vietnam’s northern province of Ha Nam by acquiring another 37.1-hectare land lot.

Companies - Sat, December 21, 2024 | 2:08 pm GMT+7

VAFIE seeks to promote sci-tech development, intellectual property policies

VAFIE seeks to promote sci-tech development, intellectual property policies

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) aims to enhance policies for the development of science, technology, and intellectual property, creating a more conducive investment environment.

Companies - Sat, December 21, 2024 | 1:59 pm GMT+7

Vietnamese dong likely to depreciate 3% in 2025: VinaCapital

Vietnamese dong likely to depreciate 3% in 2025: VinaCapital

The Vietnamese dong is likely to depreciate 3% in 2025 on anticipation that the US Dollar/DXY Index will finish 2025 nearly unchanged, says Michael Kokalari, chief economist at Vietnam's leading fund manager VinaCapital.

Economy - Sat, December 21, 2024 | 11:23 am GMT+7

First luxury railway journey across Vietnam features Indochine architecture

First luxury railway journey across Vietnam features Indochine architecture

PYS Travel has launched the first luxury railway journey across Vietnam named Sjourney, marking a new milestone in the railway tourism sector.

Travel - Sat, December 21, 2024 | 10:09 am GMT+7

Vietnam among 40 most beautiful countries: US publication

Vietnam among 40 most beautiful countries: US publication

Vietnam has secured the 36th position in the ranking of the 40 most beautiful countries in 2024 in a testament to its undeniable charm and appeal, according to US News & World Report.

Travel - Sat, December 21, 2024 | 10:04 am GMT+7

Foxconn to invest $16 mln more in Vietnam’s Quang Ninh province

Foxconn to invest $16 mln more in Vietnam’s Quang Ninh province

Competition Team Technology (Vietnam) Company Limited, a subsidiary of Foxconn, will invest an extra $16 million in its “S- Vietnam” project in the northern coastal province of Quang Ninh.

Industries - Sat, December 21, 2024 | 9:53 am GMT+7

Vietnam’s small- and medium-sized businesses embrace digitization to weather global expansion risks: survey

Vietnam’s small- and medium-sized businesses embrace digitization to weather global expansion risks: survey

While global expansion remains a key priority for the country's small- and medium-sized businesses (SMBs), achieving this goal requires overcoming challenges by leveraging the right talent and advanced technologies, including AI, according to Payoneer’s findings.

Companies - Sat, December 21, 2024 | 7:56 am GMT+7