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Vietnam hard to find funding for north-south expressway construction

Xinhua, October 5, 2016 Adjust font size:

Vietnam has difficulty in seeking 10.3 billion U.S. dollars for implementing a mega project on building a 1,372 km expressway linking Hanoi the capital city with Ho Chi Minh City, local media reported Wednesday.

The Transport Ministry has recently submitted to the government a project on building the four-lane expressway by 2020 with total investment of nearly 230,000 billion Vietnamese dong (10.3 billion U.S. dollars) for approval, daily newspaper Thanh Nien (Young People) reported.

The Finance Ministry said that of the expected investment, some 93,000 billion Vietnamese dong (nearly 4.2 billion U.S. dollars), or 2 percent of Vietnam's GDP, will come from the state budget in the 2017-2020 period, which is too big. Therefore, the Finance Ministry proposed that the Transport Ministry rebalance funds for its infrastructure projects to be implemented in the period.

If the Transport Ministry cannot rebalance the funds, it must delay the expressway project's implementation. Endit