A US$750-million highway from Hồ Chí Minh City (HCMC), to be Việt Nam’s first public-private partnership (PPP) project, has attracted interest from around 100 foreign investors.
The government has entrusted Bitexco with construction of the Phan Thiết-Dầu Giây Highway connecting HCMC with the central province of Bình Thuận, and to bring in 60 percent of the cost.
The Ministry of Transport said investors from India, South Korea, and Singapore among others have expressed interest in partnering Bitexco.
It is not known yet when the bid will take place.
Saigon Times newspaper quoted Deputy Minister of Transport Nguyễn Ngọc Đông as saying the project would open the door to a slew of PPP infrastructure projects in the country.
Why Bitexco Is Investing in Việt Nam Expressway?
The government hopes to keep the budget deficit at below 4.8 percent for this year, but analysts are not hopeful.
It expects cooperation with the private sector for public projects to ease the burden.
The highway, when finished, will reduce travel time between HCMC and the south central region and ease the burden on National Highway 1A, an arterial road spanning the country.
Source: Thanh Niên News