State council set up to appraise $1.09 billion Gia Nghia-Chon Thanh section

A state council established to appraise $1.09 billion Gia Nghia-Chon Thanh Expressway. (Perspective of Gia Nghia - Chon Thanh section)

The minister of Planning and Investment has been appointed as the chairman of the council, and the vice chairman is the deputy minister of Planning and Investment. The other members are the representatives of the ministries of Transport, Finance, Natural Resources and Environment, and Agriculture and Rural Development, among others.

The project has a total length of nearly 129km, passing through Binh Phuoc for 101km and the Central Highlands’ province of Dak Nong province for 27.8km.

It has a total investment of nearly $1.09 billion, including more than $675 million for construction and around $195 million for site clearance.

The construction will be implemented under the public-private partnership model, at which $421 million will be earmarked from the state budget and $170 million from the provincial budget. The remainder will be mobilised from investors.

The Gia Nghia - Chon Thanh section belongs to the western part of the North-South Expressway project, which was approved as part of the Vietnam Road Network Development Plan for 2021-2030 and beyond.

The project will tighten the regional linkage and is expected to create a breakthrough for local socioeconomic growth and investment capital attraction.

Tran Van Mi, Deputy Chairman of Binh Phuoc People’s Committee, told VIR that promoting the linkage was an important content of Resolution No. 24-NQ/TW dated 2022 of the Politburo on socioeconomic development and assurance of national defence and security in the Southeast region to 2030 and beyond.

“Binh Phuoc’s investment attraction faces the bottleneck in regional linkage, thus, once these two projects are developed, they will remove the bottleneck, paving the way for the investors to the province. We expect to double the coming capital compared to the current figure once the regional linkage is smooth,” Mi said.

The southern province of Binh Phuoc became one of Vietnam’s top 10 foreign-invested recipients for the first time in the first half of this year, after attracting 16 foreign projects worth of $632 million. This was a more than 12-fold increase compared to the first half of 2022 and represented 200 per cent of the annual target.

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