The Vietnam Expressway Corporation (VEC) reported on October 3 that 142 million vehicles used expressways invested and managed by the firm by the end of September this year.
Ongoing and upcoming road projects will be the primary drivers of growth in Vietnam’s transport infrastructure sector, Fitch Group said.
Licogi 16 Joint Stock Company (Licogi 16) aims to earn VND2.5 trillion (US$110 million) in consolidated revenue and roughly VND1.96 trillion (US$86.2 million) in stand-alone revenue in 2018, up 65% and 69% year on year, respectively.
Vietnam plans to invest in its transport infrastructure comprehensively while linking development strategies among sectors in order to develop a multi-modal transport environment, making the country the gateway connecting Southeast Asia to the Indian Ocean.
The southern province of Dong Nai has asked the Government to extend a HCM City metro route and expansion of several expressways to enhance transport connections in the southern economic zone.
The construction of north – south highways is necessary and cannot be delayed, Deputy Prime Minister Trinh Dinh Dung said at a meeting on the issue in Hanoi on July 7.
Drunk drivers and those riding motorbikes on expressways in Vietnam will likely be subject to heavier fines in the near future, as the Ministry of Transport has finished drafting a government decree on penalties for traffic law breakers.
Following breakthroughs in socio-economic development in recent years, many major real estate projects have been launched in Vietnam’s northern port city of Haiphong.