ASEAN KEY DESTINATIONS
Vietnamese infrastructure projects need investors
Dang Huy Dong, deputy minister of Planning and Investment, said Viet Nam hoped to cooperate with Italian businesses to attract capital and exchange work experiences in infrastructure improvement.
Dong spoke at a conference on Vietnam's infrastructure development held on Monday in Ha Noi by the Ministry of Planning and Investment, in collaboration with the Italian Trade Commission and the Transport Ministry.
The Italian ambassador to Vietnam, Andrea Peregini, said his country had used the PPP model for several projects that were expected to be profitable in the future.
"Italian businesses are interested in highway projects in Vietnam because similar projects under the PPP model in Italy had been successful," he added.
Marco Saladini, Italian trade commissioner in Viet Nam, said more than 5,000 kilometres of highway in Italy were built mainly under the PPP model by large European companies.
Apart from highway projects, Italy has used the PPP model for underground parks as well as electricity and transport-management projects.
Saladini said the Vietnamese government had implemented an online auction for projects that was more transparent than in the past, creating a more favourable climate for investors.
He added that Italian businesses were committed to creating jobs for local workers at their projects in Vietnam.
In the 2006-10 period, investment capital for infrastructure development was about VND140 billion (US$28 billion) per year.
However, the need for transport, energy and environmental projects has not yet been met. Dong said infrastructure improvement was the top priority for Viet Nam because of increased development.
Vietnam needs to have 3,000-5,000km of highway, 300-400km of metro, and dozens of seaports in the next 10 years.
To meet the demand, Vietnam needs to attract billions of US dollars to develop infrastructure in the next five to 10 years.
To meet the demand, Vietnam needs to attract billions of dollars to develop infrastructure in the next five to 10 years.
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