CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Seeking measures to attract private investment in infrastructure development
Translated by Thu Minh 11:29, 2017/03/09
In addition to encouraging the participation of private sector, the Vietnamese Government should sort out priorities for spending and investment, Vice President of the Asian Development Bank (ADB) Bambang Susantono suggested at a press conference on March 8.
 
Vice President of the Asian Development Bank Bambang Susantono (Centre) speaks at the press conference
Vice President of the Asian Development Bank Bambang Susantono (Centre) speaks at the press conference.
ADB Vice President for Knowledgement Management and Sustainable Development Bambang Susantono had a meeting with the media on March 8 as part of his working visit to Vietnam.
At the press conference, the ADB representative introduced the report “Meeting Asia’s infrastructure Needs”, which covers the region’s power, transport, telecommunications and water and sanitation infrastructure.
The report comprehensively examines current infrastructure stocks and investments, future investment needs and financing mechanisms for developing Asia.
Developing Asia will need to invest 26 trillion USD from 2016-2030, or 1.7 trillion USD per year, if the region is to maintain its growth momentum, eradicate poverty and respond to climate change. Without climate change mitigation and adaptation costs, 22.6 trillion USD will be needed, or 1.5 trillion USD per year.
Of the total climate-adjusted investment needs during the period, 14.7 trillion USD will be for power and 8.4 trillion USD for transport. Investment in telecommunications will reach 2.3 trillion USD, with water and sanitation costs at 800 billion USD over the period.
East Asia will account for 61 percent of climate-adjusted in investment needs through 2030. As a percentage of GDP, however, the Pacific leads all other sub-regions, requiring investments valued at 9.1 percent of GDP. This is followed by South Asia at 8.8 percent, Central Asia at 7.8 percent, Southeast Asia at 5.7 percent and East Asia at 5.2 percent of GDP
During the meeting, ADB Vice President Bambang Susantono stressed that Vietnam should focus on implementing its fiscal renovation, including tax reform, spending re-orientation as well as prudence in borrowing and collecting non-tax revenues.
The ADB Vice President also suggested the Vietnamese Government to encourage the participation of private sector, create attractive environmental climate and deepen the capital market, as well as sort out priorities for spending and investment.
Bambang Susantono pledged that the ADB will continue its support for infrastructure development in Vietnam.
Speaking at the event, ADB Country Director for Vietnam Eric Sidgwick underlined measures to attract private investment in infrastructure development as well as ADB’s role as a sponsor for infrastructure projects in the coming time.
 
Comments
Other news
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.