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Infrastructure projects underscore recovery
Viet Nam is moving in the right direction by invoking structures to improve its business climate, such as promoting public-private partnerships, according to Business Monitor International (BMI) in its Viet Nam Infrastructure Report for the third quarter issued on Wednesday.
With a BMI business environment score at 50.8, Viet Nam, like other countries in the Asia – Pacific region, has begun to see stronger growth as global economic conditions have improved. But downside risks from market volatility dragged down the overall score, the report said.
A number of major infrastructure projects were launched this quarter, in both transport and energy, it noted.
In March, Prime Minister Nguyen Tan Dung approved over US$18 million for the construction and development of 5,000km of roads nationwide. Meanwhile, Vinh Tan Energy Joint Stock Company No.3 is developing the nation's largest thermal power project, with a budget of $2.5 billion. Construction is expected to commence later next year, with the plant to come online in 2014-15.
The BMI forecast that the construction industry would see revenues of VND126 trillion ($6.57 billion) this year, growing to VND260 trillion ($13.9 billion) in 2014.
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