Vietnam backs private investment in infrastructure development

Vietnam backs private investment in infrastructure development
2017-11-24 |  00:09 The Saigon Times Daily

HCMC – Vietnam always encourages businesses to invest in infrastructure projects, said Deputy Prime Minister Trinh Dinh Dung at a meeting on November 22 with Richard Courey, chairman and CEO of Vision Transportation Group (VTG).

According to Dung, the country is mobilizing resources from all available sources to develop infrastructure given the overstretched State budget. International businesses with strong financial capacity and management skills will be prioritized.
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Dung spoke highly of VTG’s extensive experiences in developing transport infrastructure projects in countries around the world and its intention to invest in Vietnam.

The Vietnamese Government has taken drastic measures to improve the investment environment, complete the legal framework and support domestic and foreign businesses in investing or expanding their operations in the country, he said.

Richard Courey said VTG has carefully studied a second urban railway connecting Noi Bai International Airport and the West Lake in Hanoi City, and proposed developing the project under public-private partnership (PPP).

Courey briefed the Deputy PM on the ideas, technologies and investment roadmap for the project. He asserted that with strong financial capacity and extensive experiences, VTG would be able to implement the project successfully.

Deputy PM Dung suggested VTG work closely with the Hanoi City government and related ministries and departments before submitting the detailed investment plan to the Government. Dung also suggested the group consider other infrastructure development projects, especially railway projects like the North-South Express Railway.

According to the Government news website, Canadian-based Vision Transportation Group is a master developer of infrastructure, real estate and hi-tech projects. The group has been involved in metro projects in Singapore, South Korea and the United Arab Emirates.