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Saturday, June 22, 2024

Transport Ministry realizes 95% of public investment target

The Saigon Times

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HCMC- The Ministry of Transport has realized 95% of its public investment target for this year, with nearly VND90,000 billion disbursed.

At a conference to review the 2023 performance and discuss plans for 2024, Minister of Transport Nguyen Van Thang put the ministry’s disbursement rate at 90% of the plan in early December, saying the figure is expected to exceed 95% by year-end.

This year, the ministry has received over VND94,160 billion from the Government, a 1.7-fold increase compared to the previous year and 2.2 times higher than in 2021, in addition to VND19.9 billion allocated for the maintenance of traffic infrastructure works.

The Ministry of Transport reported that work had begun on 26 projects this year, including 18 roads, two waterways, and three railways. Additionally, 20 projects have been completed, including nine sections of the North-South Expressway, totaling 475 km.

Next year, the ministry aims to disburse over 95% of the allocated funds, with the commencement of work on 19 projects. Efforts will focus on completing ongoing projects on schedule, particularly the opening of two expressway sections, Dien Chau-Bai Vot and Cam Lam-Vinh Hao, which will bring the total length of expressways into operation to 2,021 km.

The transportation sector will also expedite preparations for investments in key railway routes, including HCMC-Can Tho, Bien Hoa-Vung Tau, Long Thanh-Thu Thiem, and Lao Cai-Hanoi-Haiphong.

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