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Ministry seeks investment from Seoul
A team with the transport ministry headed by Deputy Minister Ngo Thinh Duc is visiting the Republic of Korea from September 29 to October 3 to seek Korean investment in transport infrastructure projects.
A list of possible projects includes the proposed Long Thanh international airport in Long Thanh District, Dong Nai Province with a total investment capital of US$2 billion.
The airport would help reduce the number of passengers at HCM City's Tan Son Nhat airport.
Another major transport project involves the construction of an expressway linking the Central Highlands Province of Dak Nong with the Ke Ga seaport in the south-central province of Binh Thuan. The project is worth $1.3 billion.
The Hue-Da Nang Expressway, with a total investment capital of $1 billion, is also among major transport infrastructure projects open to Korean investors.
The trip offers a good opportunity for Vietnamese companies to exchange experiences with their Korean partners on capital mobilisation in transport infrastructure projects, construction and maintenance of expressways.
The Republic of Korea in the last few years has become one of the top foreign investors in Vietnam.
Korean companies have been interested in investing in transport infrastructure projects in Vietnam.
Korea's Posco Group has jointly invested in the project to expand Lang-Hoa Lac highway in Hanoi.
Other Korean construction groups such as Kumho, Jin Sung and Doosan are seeking opportunities to promote investment in a score of transport projects, including expressways and major seaports in Vietnam.
Korea, with 50 years' experiences in highway construction, can help Vietnamese companies in this area, according to Vietnamese transport officials.
The Viet Nam Expressway Corporation (VEC), for example, was built under the mode of the Korean Highway Company (KHC).
Korea has experience in generating capital from public-private partnerships for infrastructure development, including the building of a Korean bridge with a total investment capital of $4 billion.
The transport ministry and the Korea's Incheon Urban Development Company has recently signed a Memorandum of Understanding for a transport project.
VNN
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