Transport infrastructure to dominate $26.8 bln public investment allocation in 2024: PM

Transport infrastructure will be the biggest recipient of this year’s VND657 trillion ($26.82 billion) public investment capital allocation, Prime Minister Pham Minh Chinh said Friday.

Chairing a hybrid session of the Steering Committee for Key National Transport Projects, he stressed the significance of public investment in national development and ordered relevant agencies to accelerate construction of key transport projects in 2024 to “create new development space.”

The Prime Minister praised localities, sectors, investors and contractors for efforts to expedite project implementation, but noted several projects lagged behind schedule due to prolonged investment procedures, sluggish site clearance and loose coordination among stakeholders.

He requested delegates at the session to evaluate the situation and propose measures to speed up construction progress while ensuring quality, labor safety and environmental standards; and remove bottlenecks in official development assistance (ODA) disbursement.

Chinh also asked for studies in the use of beach sand in construction. “Once transport projects are put into operation, they will help reduce logistics costs and improve the competitive edge of enterprises, giving a boost to development of industry, services and urban areas,” he said.

There are 34 major transportation projects and 86 component ones being implemented in 46 provinces and cities across the nation. These include five railway routes, two airports, expressways, and ring roads in Hanoi and Ho Chi Minh City.

Notably, the North-South Expressway’s eastern section has completed nine out of 11 component projects for the 2017-2020 period and the My Thuan-Can Tho Expressway is on schedule, bringing the total length of expressways in the country to 1,892 kilometers, including 475 kilometers completed last year. For 12 component projects in the 2021-2025 period, investors and contractors have made concerted efforts to ensure their progress, the meeting heard.

Hanoi and HCMC are striving to put into operation the respective Nhon-Hanoi Station and Ben Thanh-Suoi Tien metro lines this July.

Major packages of the Long Thanh International Airport project in the southern province of Dong Nai, including a passenger terminal and works serving flight control are being implemented. Construction is also underway on a third terminal of Tan Son Nhat International Airport in HCMC.

Highlighting transport infrastructure development as a key task in the first days after the 2024 Lunar New Year festival, the prime minister issued two dispatches directing agencies and units to speed up project implementation and focus on removing difficulties and obstacles related to construction quotas and building material supply.

On the third and fourth days of the Lunar New Year, Prime Minister Chinh and his deputy Tran Hong Ha inspected five key transport projects in Hanoi, HCMC, Dong Nai and Ba Ria-Vung Tau, directing the clearance of obstacles and encouraging workers.

Infrastructure is one of three strategic areas the Vietnamese government is striving to make breakthroughs in, in addition to institutions and manpower.