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December 10, 2008

Japanese firm to build expressways in Vietnam
Major domestic roads will be built in Vietnam by a leading Japanese company, Central Nexco Expressway Ltd Co, state news agency VNA quoted speakers at the opening ceremony of the company's first Vietnam office on December 8 as saying.

Deputy Minister of Transport Ngo Thinh Duc said the Vietnamese government is prioritising transport infrastructure, especially expressways, which are still poor and out of date.

Duc added: "The government is encouraging the building of road traffic systems on highways to attract investors attention."

He said that the expressway construction industry in Vietnam was new and needed to be supported with advanced technologies and investment from experienced countries worldwide, such as Japan.

Ambassador of Japan to Vietnam Mitsuo Sakaba said: "Having the same idea on the important role of expressways in developing economies, the Japanese government will assist Vietnam on infrastructure and expressway building to reach the aim of industrialisation by 2020."

Nexco and Vietnam Expressway Corporation (VEC) signed a Memorandum of Understanding (MoU) a year ago to share information, investment experiences and knowledge about expressway building in Vietnam.

The chairman and Chief Executive Officer of Central Nexco, Hironori Yano, promised to cooperate and support partners to develop major roads in the future.

VEC is a state-owned company and operates in the fields of investment fund absorbing, construction management, operation, toll fee collection, maintenance and reinvestment. Established in 2005, Nexco is worth US$6 billion and controls more than 1,746 kilometres of roads in Japan.

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