Ministry of Transport to sell some highways

Vietnam Expressway Corporation is promoting procedures and looking for partners to prepare to sell some expressways such as Cau Gie - Ninh Binh, Ho Chi Minh City - Long Thanh.

In a recent meeting with the Vietnam Expressway Corporation (VEC), Minister of Transport Dinh La Thang said that the investor of the Hanoi - Hai Phong Expressway project (VIDIFI) has prepared to sell 70% of the project to an Indian investor.

Minister Thang suggested that VEC should also consider selling some of the highways it is managing to have capital to invest in building other roads. If it does not change its mindset and only relies on the state budget or government bonds, it will fail. And if it only considers increasing the charter capital for VEC, no matter how many times it increases, it will not be enough. If it changes its approach, the goal of investing in building 2,000 km of highways will be completely achieved.

"We have to change our mindset about infrastructure investment. Just finish it and then sell it. There are many foreign investors and they are very interested in our projects," said Mr. Thang.

Expressways help shorten travel time and reduce accidents. Photo: D.Loan.

Speaking to VnExpress, Mr. Mai Tuan Anh, General Director of Vietnam Expressway Corporation (VEC) said that after receiving the direction from the Ministry's leaders, VEC is working with the functional agencies of the Ministry of Transport to complete procedures, calculate sale options to attract domestic and foreign investors, and most importantly, determine the sale price of each route.

Mr. Mai Tuan Anh said that VEC will offer all 5 expressway projects (Noi Bai - Lao Cai; Cau Gie - Ninh Binh; Ben Luc - Long Thanh; Ho Chi Minh City - Long Thanh; Da Nang - Quang Ngai). Of which, the two projects that can attract the most investment are Cau Gie - Ninh Binh and Ho Chi Minh City - Long Thanh because of the large traffic volume.

According to VnExpress