Projects lagging behind schedule are those financed by the official development assistance (ODA), preferential loans, foreign direct investment (FDI) and under the public-private partnership (PPP) mechanism.

The financing mechanism under the private-public partnership (PPP) model would be essential to realize this goal.

The public-private partnership (PPP) law, which became effective since early 2021, has created a legal framework for the implementation of large-scale infrastructure projects under such funding tool.

Once completed, the ring road No.4 would help connect 14 districts from three northern cities/provinces of Hanoi, Hung Yen and Bac Ninh with a total length of 98 kilometers.

This is the first project since the public-private partnership (PPP) law came into force last June.

Vietnam is set to face a surge in power demand and consumption over the coming decade, which is likely to outpace capacity growth in the near term, stated Fitch Solutions.

Vietnam is determined to have the best transportation system to serve the country’s goal of industrialization and modernization, Prime Minister Nguyen Xuan Phuc has said.

Foreign contractors will play an increasingly important role over the next decade, as the new PPP Law signals the government’s intention to attract more private sector investments.

The three sub-projects set for construction in September are sections of Mai Son – National Highway No.45, Vinh Hao – Phan Thiet, and Phan Thiet – Dau Giay.