Vietnam to lead Asia in transport infrastructure growth

Vietnam, China and India will lead other Asian countries in transport infrastructure in growth by 2021, according to a report by the International Quality and Productivity Centre (IQPC).

IQPC, a popular consultative group, has supported international leading construction companies in providing businesses with practical solutions to overcome their challenges over the past 30 years.

The group’s report was based on economic growth rates and modernization and urbanization trends as well as domestic and foreign investment attraction.

In the coming year, a number of key transport projects will be launched including the US$9.7 billion underground road network in Seoul, the Republic of Korea, and the US$11.3 billion bridge linking Macao and Zhouhai in Hong Kong, China.

However, it said, the bureaucracy and interference caused by the administrative agencies have driven up the construction costs and hindered the progress of the projects.

Despite this fact, the overall situation remains promising thanks to the growing bilateral cooperation between trade partners in the development of transport infrastructure, especially roads to connect remote and poor areas to prosperous ones.

Most impressive in China, Vietnam and India are their long-term projects to help expand the Asian highway network from ASEAN countries to China and some key economies in Central Asia.