Economic sectors urged to engage in infrastructure development

CA - Deputy PM Hoàng Trung Hải has called for more favorable incentives to attract all economic sectors to engage in infrastructure development.

The Deputy Prime Minister made the call on October 19 while attending a meeting on the Project on synchronous infrastructure construction for 2011-2020 period.

Deputy PM Hải tasked relevant ministries to renovate policy making, particularly the way of thinking, propose new mechanisms on prices and finalize the Project before submitting it to the Government for issuance.  

Participants to the meeting underlined the necessity to define the role of the State in infrastructure development. The State should play the leading role in creating environment and sharing risks with private sector instead of direct investment.

 In addition, the participants also stressed the importance of focusing on key projects which would benefit socio-economic development; ensure security, national defense and protect the environment.

According to the Ministry of Planning and Investment, the national transport system has been dramatically expanded, serving economic exchanges between Việt Nam and regional countries.

Despite high investment in infrastructure, (about 24.5% of total social investment and 9% of GDP), the national infrastructure structure is still weak in comparison with regional peers.