USD24 million to support the development of transport projects in Vietnam

“Australia has a long history of supporting development of the transport sector in Vietnam. Starting with the original “Friendship bridge” at My Thuan in 2001, the first cable stayed bridge in Vietnam, and now with the Cao Lanh bridge, which we expect will open in the coming months”, said Mr Craig Chittick, Australian Ambassador to Vietnam,

It marks a new era in Australia’s assistance by working with Vietnam to ensure its bankable projects attract international finance and make it to implementation more quickly.

Aus4Transport, a great example of Australia’s economic partnership with Vietnam in action, will provide funding and expertise to develop new transport projects from the concept stage, up to the start of construction. Besides, it contributes to strengthening partnerships between Australian transport institutions and the Ministry of Transport to help share Australia’s world leading experience in areas like transport planning, infrastructure finance, and road safety.

According to Minister of Transport Nguyen Van The, new investments in transport infrastructure are critical to sustaining economic growth in Vietnam. So, this project will support nation with flexible finance and the expertise necessary to ensure projects are developed to the highest quality.

Running from 2018 until 2022, this program expects to develop five new major road projects. However, its impact will extend far beyond these projects by demonstrating new models and policies that can improve value for money across all of Vietnam’s transport investments./.