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Vietnam Splurges US$14 Billion on Road Infrastructure
For Vietnam it seems the road to economic growth is paved with tarmac.
The crux of the issue is that majority of the roads are two-laned and there are no modern nationwide expressway systems across the country. Coupled with the narrow widths of the road, poorly designed junctions and restrictive vehicle weight limits, the Ministry of Transport and Ministry of Planning and Investment have decided to redevelop Vietnam’s poorly constructed road infrastructure.
With an estimated US$14 billion expected to be spent between 2010 and 2015, the Government is already expecting major road upgrades, introduction of toll-road concessions and BOT structures for road projects, improvement of road links and border crossings, and 2,160 km of new highway projects to be constructed.
With exports continuing to experience 20 percent growth in 2011 thanks to the global economic recovery, it is not the only reason that the government has decided to upgrade the country’s road infrastructure. In order to support the growing trade (up 25 percent from 2009), government need to upgrade major highways and transport routes from airports and ports.
Also, given that 2010 was such a good year for Vietnam in terms of attracting foreign capital, one speculates that the required foreign capital (direct and indirect) that will flow into the country shouldn’t be a problem for the booming construction sector which contributed 7 percent to the country’s GDP in 2010.
Road Infrastructure Vietnam, to be held on 12 & 13 April 2011 will bring together government officials in transportation departments, road infrastructure developers, contractors, road design and engineering consultants and civil and structural engineers, to discuss the strategies to grow Vietnam’s road infrastructure in order to support its economy.
For more information about the conference agenda and how to register, visit our website www.roadinfrastructurevietnam.com, or drop an email to Ms. Stacey Cross at email@example.com, or call us at +65 6722 9388.
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