The Politburo, Vietnam’s supreme decision-making body, has asked relevant authorities to prioritize allocating resources for critical transport infrastructure projects, including expressways and a trans-Vietnam high-speed railway.
Reviewing a Party Central Committee resolution issued in January 2012 on boosting infrastructure development, the Politburo reckoned that the country has yet to make a breakthrough in mobilizing resources and achieving a synchronous and modern infrastructure system that ensures rapid and sustainable growth.
Therefore, the highest leadership requests the government to soon complete the eastern section of the North-South Expressway, East-West expressways, international airports; seaports and inland waterways; the North-South High-speed Railway, and rail routes linking Vietnam with China.
In addition, priority must be placed on the development of urban railways in Hanoi, Ho Chi Minh City and other major cities.
The government is also asked to diversify the power mix while developing renewable and new energies in line with actual economic growth levels.
The Politburo also asked for construction of advanced digital infrastructure and national databases and data centers; development of sustainable industrial parks and economic zones; investment in belt roads, water drainage and solid waste treatment works.
The government earlier this month ordered the Ministry of Transport to complete a detailed plan for the North-South High-speed Railway project for submission next month to the Politburo.
FiinRatings, a financial data platform, has estimated Vietnam needs at least $25-30 billion annually to develop infrastructure in the next decade, or nearly $600 billion until 2040.
Meanwhile, some $72 billion is needed to develop industrial parks that are included in the master plan until 2030, according to the Institute for International Investment Studies.