Transport ministry seeks 10-lane southern Vietnam expressway
The Ministry of Transport has asked state-owned Vietnam Expressway Development Investment Corporation (VEC) to consider widening Ho Chi Minh City-Long Thanh-Dau Giay Expressway to 10 lanes, instead of the eight proposed by the investor.
According to the ministry, the proposal by VEC, Vietnam’s top expressway developer, on developing eight lanes for the section from the Ring Road 3 intersection in HCMC to the intersection with Bien Hoa-Vung Tau Expressway in neighbouring Dong Nai province’s Long Thanh district is not consistent with the road network planning for 2021-2030, with a vision to 2050. Accordingly, HCMC-Long Thanh-Dau Giay Expressway is set to have 10 lanes.
In addition to the two investment forms VEC has proposed, the ministry also suggested adding three others namely public investment, public-private partnership (PPP), and franchise to compare the advantages and disadvantages of the five options.
It says that the VEC-proposed option in which the state budget makes up 44% of the total investment is not feasible as medium-term public investment capital for the 2021-2025 period has run out. Therefore, the ministry required VEC to update information and propose a more feasible option.
Earlier this month, VEC submitted to the Ministry of Transport an investment plan to expand HCMC-Long Thanh-Dau Giay Expressway from the Ring Road 2 intersection to the intersection with Bien Hoa-Vung Tau Expressway) with a length of about 21 kilometers and a total cost of VND13.88 trillion ($584.8 million)
Accordingly, the section from the Ring Road 2 intersection to the Ring Road 3 intersection is expected to expand from four to eight lanes and the section from the Ring Road 3 intersection to the intersection with Bien Hoa-Vung Tau Expressway is set to have eight lanes in the first phase and 10 lanes in the second.
The 55-kilometer HCMC-Long Thanh-Dau Giay Expressway, opened to traffic in 2015, has become overloaded, especially during big holidays. The road’s existing capacity is unable to meet the transport demand at present and in the future. Given this, it needs to be expanded early so as to meet the transport demand, particularly when Long Thanh International Airport in Dong Nai province becomes operational.
Under Vietnam's road network planning for 2021-2030, with a vision towards 2050, the country aims to develop over 5,000 kilometers of expressways by 2030, compared to more than 1,160 kilometers at the end of 2021.
There will be 14 expressways with a total length of about 2,305 kilometers in the north, 10 expressways with a combined length of 1,431 kilometers in the central region and Central Highlands, and 10 expressways with a total length of 1,290 kilometers in the south.
- Read More
Thailand to allow more foreign workers in business
The Thai cabinet has approved in principle increasing the number of foreign workers at businesses to deal with labour shortage, according to Thai government spokesman Jirayu Huangsab.
Southeast Asia - Wed, December 18, 2024 | 9:25 pm GMT+7
Indonesia to build first nuclear power plant
Indonesia is planning to build its first nuclear power plant on Kelasa island in Bangka Belitung province.
Southeast Asia - Wed, December 18, 2024 | 9:18 pm GMT+7
Thailand announces research and innovation direction for 2025
The recent “Research X Innovation 2025” conference examined global trends and announced Thailand’s research and innovation direction for 2025.
Southeast Asia - Wed, December 18, 2024 | 8:49 pm GMT+7
Malaysia eyes to become ASEAN’s next-generation vehicle hub
The Malaysian Investment Development Authority (MIDA) has partnered with DRB-Hicom Bhd and Zhejiang Geely Holding Group Co. Ltd. to develop the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, Perak, with a goal of turning the country into ASEAN’s hub for next-generation vehicles (NxGV) and energy-efficient vehicles.
Southeast Asia - Wed, December 18, 2024 | 8:46 pm GMT+7
Thai IP developer Amata eyes clean energy cooperation with northern Vietnam province
Amata Group of Thailand on Wednesday recommended the northern province of Quang Ninh foster cooperation in clean energy development in the time to come.
Investing - Wed, December 18, 2024 | 4:54 pm GMT+7
Czech's Sev.en Global Investments to make Europe's largest energy investment in Vietnam
Czech-based Sev.en Global Investments, a multi-sector business, will expand its footprint to Asia, with Vietnam as a key market, the firm announced Wednesday.
Energy - Wed, December 18, 2024 | 3:43 pm GMT+7
Vietnam's Mekong Delta has immense opportunities for herbal-based medicine development: exec
The government should prioritize planning for designated growing areas and support product promotion to advance the development of products derived from medicinal herbs, said Pham Thi Xuan Huong, general director of OPC Pharmaceutical JSC.
Companies - Wed, December 18, 2024 | 2:15 pm GMT+7
Petrovietnam seeks WB support in offshore wind energy
State-owned Petrovietnam has called on the World Bank to provide support, including capital, to help with green energy projects, especially offshore wind power.
Energy - Wed, December 18, 2024 | 1:36 pm GMT+7
Masan High-Tech Materials exits its downstream business H.C. Starck
Vietnam's Masan High-Tech Materials on Wednesday announced the successful closing of the sale of 100% of H.C. Starck Holding (Germany) GmbH to Mitsubishi Materials Corporation Group.
Companies - Wed, December 18, 2024 | 1:24 pm GMT+7
New stock trading system KRX must come on stream in 2025: regulator
The State Securities Commission (SSC) of Vietnam has demanded stock exchanges and related entities to launch the new stock trading system KRX in 2025.
Finance - Wed, December 18, 2024 | 11:40 am GMT+7
Hong Kong-invested battery maker GPPD raises Vietnam investment to $35 mln
Singapore-incorporated GPPD Pte. Ltd., a subsidiary of Hong Kong-based Gold Peak Technology Group Limited, has increased its investment in Vietnam’s southern province of Binh Phuoc to $34.6 million.
Industries - Wed, December 18, 2024 | 11:17 am GMT+7
Vietnam interest rate unlikely to fall further: experts
Interest rates in Vietnam are unlikely to decrease further and may even rise slightly in the near future, according to Pham The Anh, chief economist at the Vietnam Economic and Strategy Research Center (VESS).
Economy - Wed, December 18, 2024 | 10:04 am GMT+7
Vietnam an important partner of Guangdong-Hong Kong-Macao Greater Bay area: Sunwah Group chairman
Through Hong Kong, an international financial center, Vietnamese businesses can more easily and effectively access the Guangdong-Hong Kong-Macao Greater Bay, says Sunwah Group chairman Jonathan Choi.
Economy - Wed, December 18, 2024 | 8:17 am GMT+7
Hanoi plans to start work on metro line 2 next year
Hanoi is set to start the construction of a section of its metro line 2 next year at a cost of VND35.58 trillion ($1.45 billion).
Infrastructure - Tue, December 17, 2024 | 9:15 pm GMT+7
Bamboo Capital highlights role of businesses in advancing Vietnam’s circular economy
Dr. Hoang Trung Thanh, a senior leader of Vietnam's conglomerate Bamboo Capital Group, emphasized the pivotal role of businesses in driving Vietnam’s green economy strategies during his speech at the recent Vietnam Circular Economy Forum 2024.
Bamboo Capital - Tue, December 17, 2024 | 8:15 pm GMT+7
F88 partners with MB to transform over 850 financial stores into bank transaction offices
Military Commercial Joint Stock Bank (MB) and leading consumer finance firm F88 on Monday officially signed a comprehensive cooperation agreement.
Companies - Tue, December 17, 2024 | 8:15 pm GMT+7