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Vietnam Sparks Growth with Massive Infrastructure Push
19 Dec
Summary
- Vietnam launched numerous infrastructure projects across 34 provinces.
- Private capital fuels 82% of the total funding for these developments.
- New airports, expressways, and urban rail lines aim for economic boost.
Vietnam is accelerating its economic growth with a sweeping infrastructure development initiative, marked by ceremonies across all 34 of its provinces and cities. The government is prioritizing transport, energy, urban development, and logistics as key economic drivers. This ambitious undertaking is heavily reliant on private investment, which accounts for approximately 82% of the total funding.
The nation celebrated key milestones, including the first official landings at Long Thanh International Airport, poised to become a major Southeast Asian aviation hub. Critically, two road links connecting this airport, including sections of Ring Road 3, were also opened. In Ho Chi Minh City, construction commenced on multiple vital gateway projects, such as the HCMC-Moc Bai Expressway and the Nguyen Khoai bridge-and-road project, aimed at easing congestion and improving connectivity.
Further enhancing urban mobility, Ho Chi Minh City launched the ambitious Ben Thanh-Can Gio metro line, a high-speed rail project expected to be completed by late 2028. Phu Quoc Island initiated its first urban light rail transit line to support its hosting of the APEC 2027 Summit. Hanoi is witnessing the development of Vingroup's expansive Olympic sports urban complex, featuring a 135,000-seat FIFA-standard stadium. Additionally, completed projects like the Binh Khanh Bridge and expanded Terminal T2 at Noi Bai International Airport were inaugurated, alongside the Con Dao Island power grid connection and Vung Tau's coastal revitalization.
