Sunday , April 14 2024

Transport infrastructure construction poised to drive economic growth

A section of Đà Nẵng-Quảng Ngãi Expressway running through central Đà Nẵng City. — VNA/VNS Photo Lê Lâm

HÀ NỘI — Major transport infrastructure completed in 2023 is expected to drive GDP growth of 6-6.5 per cent that the Government targets in 2024.

Economists explained that transport infrastructure has a large spillover effect, with investment of VNĐ1 yielding returns of VNĐ1.25 – 1.4 and impacting fields like real estate, education and culture.

Places with convenient connectivity always attract investments, leading to the development also of neighbouring areas.

The Mekong Delta has for instance developed various transport infrastructure projects and attracted a number of foreign investors.

Japanese businesses forecast great opportunities in Cần Thơ City following the development of new infrastructure.

According to Shiraishi Hideyuki of the Japanese consulate general in HCM City, Cần Thơ now has great potential to strengthen economic relations with Japan, pointing out that it used to take four hours to drive there but now takes only two and a half hours.

Transporting products from Cần Thơ to ports in HCM City is easier, and so expanding trade with it is easier.

In 2023 the Government prioritised investment in modern transport infrastructure, encompassing roads, railways, marine and inland waterways, and airports.

Construction of 12 North-South expressway projects kicked off at the start of the year.

By mid-year, nine additional traffic projects were inaugurated, and four more were completed by year-end. Approximately 475 km of expressways were added, bringing the total length to 1,892 km by the close of 2023.

Other key transport projects initiated in 2023 included three east-west expressways, the Tuyên Quang – Hà Giang Expressway, the T3 passenger terminal at Tân Sơn Nhất International Airport, the Long Thành International Airport, Phú Bài Airport, Điện Biên Airport, Mỹ Thuận 2 Bridge, and Vĩnh Tuy 2 Bridge.

The Ministry of Transport reported the completion of several expressway sections on the Eastern Expressway, acting as a significant catalyst for socio-economic development.

Notably, the Phan Thiết (Bình Thuận) – Dầu Giây (Đồng Nai) and Vĩnh Hảo (Bình Thuận) – Phan Thiết (Bình Thuận) expressways were opened to traffic, stimulating tourism in the region.

Việt Nam’s total road length now stands at nearly six million kilometres, including 25,600 km of national roads (comprising national highways and expressways).

The national railway network spans 3,143 km and has 277 stations.

The maritime infrastructure includes 34 seaports, and there are 22 airports, consisting of nine international and 13 domestic ones.

The transport sector’s noteworthy achievements in 2023 created a favorable premise for economic growth in 2024, as Minister of Transport Nguyễn Văn Thắng emphasised.

Looking ahead to 2024, the ministry aims to complete two sections in the eastern part of the North-South Expressway. The ambitious goal is to complete 2,021 km of expressways nationwide during the year.

Việt Nam’s vision for 2025 includes having 3,000 km of expressways, essentially completing the eastern part of the North-South Expressway.

Furthermore, the government projects a total expressway length of 5,000 km by 2030.

The commitment to major transportation projects is evident in the special attention paid by the Government.

Prime Minister Phạm Minh Chính has actively monitored the progress, making numerous working trips to expedite disbursement of public investment and help mitigate problems in expressway development.

On New Year’s Day he issued an official communication urging everyone involved to uphold the highest sense of responsibility and accelerate the investment and construction progress of transport projects.

These actions underscore the determination to maintain the momentum of breakthroughs achieved in 2023 and ensure sustained progress in transportation infrastructure development. VNS

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