Vietnam seeks over $19 billion foreign investment in traffic infrastructure

The Ministry of Transport yesterday said that it was rushing to complete a project on foreign investment attraction in traffic infrastructure by 2020 with a total capital of VND415 trillion (US$19.03 billion).

HCMC infrastructure has much developed for the last four decades (Photo: SGGP)

According to the ministry, Vietnam needs VND1,015 trillion (US$48 billion) to develop traffic infrastructure in the phase 2016-2020.

Of these, VND415 trillion will be mobilized from foreign investors via two main channels including official development assistance and preferential loans.

The project will provide many incentives to the foreign investors. For instance, they will be exempt from business income tax, rent, land use fee, import tariff on commodities serving projects.

By Bich Quyen – Translated by Hai Mien

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