The project will be financed by investment from the World Bank, Vietnam’s Ministry of Planning and Investment (MPI) and private investors, the Vietnam Business News reported.
The government has appointed a Vietnamese private company Bitexco Group as a project investor and competitive bidding will select other private investors.
The expressway is one of southern Vietnam’s most important transport infrastructure projects and will connect Ho Chi Minh City and Binh Thuan province’s Phan Thiet City.
“The pilot project will pave the way for other PPP projects in Vietnam,” the Vietnam Business News reported MPI vice-minister Dang Huy Dong as saying.
PPP is a public-private partnership between government and the private sector to carry out projects with social benefits, with agreements to share responsibilities and risks.
Last October, the MPI and the World Bank finalised a draft PPP financing framework.
The draft is expected to get the Vietnamese Prime Minister’s approval in September this year, the Vietnam Business News reported.
Source: Vietnam Business News
