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Monday, May 23, 2022

VND8.3 trillion to be allocated for key traffic projects

The Saigon Times

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HCMC – The Ministry of Transport is planning to allocate an additional VND8.3 trillion for key traffic projects after the prime minister approves the third phase of the 2022 mid-term public investment plan this month, according to the Ministry of Planning and Investment.

Of the planned public funding, some VND5 trillion will be poured into the North-South expressway project in the 2021-2025 period, while the rest will be used for 37 new projects, the local media reported.

Some expressway projects, including Bien Hoa-Vung Tau, Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot, Cao Lanh-An Huu, Dau Giay-Tan Phu and Chon Thanh-Duc Hoa, are awaiting investment approval from the National Assembly or the prime minister.

The Ministry of Transport has been tasked with a 2022 mid-term public investment plan worth over VND50.3 trillion, the largest ever, accounting for 9.7% of the country’s capital plan in 2022.

The ministry had earlier made two capital allocations valued at nearly VND42 trillion, equivalent to 83.4% of the total.

As of February, the ministry had disbursed VND2.3 trillion, meeting 4.4% of the target set by the prime minister. Some VND3.5 trillion will be disbursed in March to focus on some major projects, including the North-South expressway, the La Son-Tuy Loan expressway and the rehabilitation of National Highway 20, among others.

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