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$4.7 billion in disbursements for infrastructure projects this year

Released at: 12:24, 11/12/2014

$4.7 billion in disbursements for infrastructure projects this year

Private investments make healthy contribution to record disbursement figure.

by Son Ho

On December 9 Mr. Nguyen Viet Huy, Deputy Chief of Investment Management for public, private partnership (PPP) projects at the Ministry of Transport announced that private investment sources for 24 infrastructure projects in 2014 totaled VND42.5 trillion ($2 billion) and may reach VND45 trillion ($2.12 billion) next year. The Ministry is calling for investment capital not only road projects but also others such as the North - South railway line, Long Thanh International Airport, and projects on seaports and waterways.

According to Mr. Huy, it is expected that in the period of 2016 - 2020 there will be capital of around VND235 trillion ($11.05 billion) attracted from private investment sources for transportation projects.

In recent years, capital for transport infrastructure has mainly depended on ODA funds and the State budget. VND50 trillion ($2.35 billion) has previously been disbursed annually. Every year the budget for the transport sector is about VND20 trillion ($940 million), which does not even meet half of the capital required.

According to a representative from the Ministry of Transport, with higher investment attracted and fewer delayed projects the transport sector is expected to reach a record level of disbursement of up to VND100 trillion ($4.7 billion) in 2014.

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