A huge investment by Vietnam’s Ministry of Transport will see over US$5 billion spent on the country’s road transport infrastructure by 2020.
RSSA huge investment by 2560 Vietnam's Ministry of Transport will see over US$5 billion spent on the country’s road transport infrastructure by 2020. This massive spending is required to keep pace with the country’s growing vehicle numbers. Since 2000, the number of people travelling by road in the country has almost tripled from 620 million passengers to a staggering 1.76 billion passengers. Meanwhile freight traffic by road has also tripled from 7969.9 million tonnes/km to 31587.2 million tonnes/km, a growth of nearly 400%. This increase can be put down to the proliferation of car ownership. By November 2011, nearly 100,000 vehicles were sold in Vietnam, down only 1% over the same period last year, with cars and multipurpose vehicles sales increasing 23.9% and 4% respectively. International firms are keen to develop their presence in Vietnam as a result, in contracting, supplying associated road hardware, selling vehicles and financing for example. An upcoming event, Transport Infrastructure Vietnam 2012, will provide a key tool for international investors. This has been organised by IQPC in partnership with the local authorities and will be held in Hanoi from 17th-18th April 2012.
