HÀ NỘI — The demand for investment from the State budget for 12 key highway projects through 2030 is estimated at up to VNĐ334 trillion (US$12.7 billion), according to the Ministry of Construction.

The construction ministry recently reported this figure to Prime Minister Lê Minh Hưng, and is working with localities on plans for mid- and long-term public investment from the State budget to develop the nation's highway network over the next five years.

Construction Minister Trần Hồng Minh said the list of highway projects that need investment by 2030 is compliant with regulations on public investment, follows directions set out by the Party Central Committee and the Government, and prioritises allocating capital for key road projects nationwide.

Specifically, focus will be placed on completing highway sections along the North-South Expressway connecting the country’s two main economic centres, Hà Nội and HCM City.

These sections include Yên Bài, Phú Thọ and Cổ Tiết, linking the vertical axis from the northern mountains and midlands region to Ring Road 5 in the Hà Nội capital region; Pleiku to Buôn Ma Thuột to Gia Nghĩa, connecting the Central Highlands provinces with the Gia Nghĩa-Chơn Thành highway; and Đức Hòa to Mỹ An, which links the vertical axis from the Mekong Delta region to HCM City's Ring Road 4.

The plan also includes building highways in and around HCM City, Tiền Giang, Bến Tre, Trà Vinh, Sóc Trăng and Cà Mau. These new roads will help strengthen regional connectivity and support investment attraction for urban development, as well as in industry, services and logistics.

Other projects include highways connecting Trần Đề and Hòn Khoai ports, and expanding the Hà Nội-Bắc Giang highway.

Expanding the North-South Expressway will be crucial for socio-economic development in the next few years.

During this period, several expressways running from east to west will also play a key role in connecting mountainous regions with coastal areas and border crossings with Laos and Cambodia, projects that will also need investment to facilitate trade with neighbouring countries.

These include the following highways: Vũng Áng-Cha Lo, Hà Tĩnh-Cầu Treo, Phú Yên-Đắk Lắk, Nha Trang-Liên Khương and Hà Tiên-Rạch Giá-Bạc Liêu, with a preliminary total investment of VNĐ168.9 trillion ($6.4 billion), of which the State budget will cover VNĐ111.2 trillion ($4.2 billion).

For all 12 expressway projects, the Ministry of Construction estimated the total investment to reach VNĐ514.9 trillion ($19.6 billion), with the VNĐ334.6 trillion from the State budget representing 65 per cent of the total.

The remainder of the funding is expected to come from the private sector through public-private partnerships.

To meet the needs of socio-economic development and contribute to achieving the country's double-digit growth target, the construction ministry recommended that the PM direct the Ministry of Finance and other relevant bodies to review the medium-term public investment plan and begin implementing the expressway projects as soon as possible. —VNS