HANOI, May 2 (Engineering Daily) -- Road transport infrastructure is an important part of social infrastructures in general and transport infrastructure in particular, necessary to be developed a step in advance to create a premise and promote economic social development. However, since the State funding for the planning and development of transport projects is very limited and the mobilized ODA capital is declining, the formation of additional sources as state-owned enterprises is to take over commercial loans; mobilizing capital from all economic sectors to socialize, invest and develop transportation system is essential. Therefore, the Corporations were established for the purpose of investment, project management and operation in transport infrastructure.
Currently, two Corporations that are high appreciated by managing authorities and residents are Cuu Long Corporation for Investment, Development and Project Management of Infrastructure (Cuu Long CIPM) and Vietnam Expressway Corporation (VEC).
Cuu Long Corporation for Investment , Development and Project Management of Infrastructure (Cuu Long CIPM) was established by Ministry of Transport (MOT) in 2011, based on the conversion of My Thuan Project Management Unit, Single Member Limited Liability Company for Structural Engineering Management and Amendment 715, and Single Member Limited Liability Company for Can Tho Bridge Management and Exploitation, with the organization and operation under the model of parent company subsidiary company.
Cuu Long CIPM has completed some projects such as rehabilitation and upgrade of Highway 14 (section Km 127 - Km 196), rehabilitation and upgrade of Highway 14 (section Km 83 - Km127), rehabilitation and upgrade of Highway 51 project. Currently, the Corporation is implementing many projects inclduing HCMC - Trung Luong expressway; Trans-Asia Highway project; investment and upgrade of Highway 50 and South Hau River project. In particular, HCMC - Trung Luong expressway is one of the key projects of the Corporation. Total investment is VND 9800 billion by the national capital, 39.8 km long route linking HCM City with Long An and Tien Giang province, which is considered the main street of HCMC to the Southwest provinces. Besides the road projects, the Corporation also carry out bridge projects, for instance, Can Tho Bridge and My Thuan Bridge. The Can Tho Bridge project had a capital of VND 4100 billion of loans from the Japan Bank for International Cooperation (JBIC) and counterpart capital from the State budget. The total route length is 15.35 km, connecting the territory of two provinces of Can Tho and Vinh Long.
On October 6, 2004, the Ministry of Transport issued Decision No. 3033 / QD-BGTVT to form Vietnam Expressway Corporation (VEC). VEC was founded as a new test of the government and transport sector about the state enterprise model as a core in the expressway investment, construction and development. VEC as an objective of becoming a professional and key investor, hub of the mobilization, attracting domestic and foreign capital in various forms for investment and development of the expressway system according to self-built and self-employed procedure.
The first task of VEC, as an investor that was assigned by the MOT was Cau Gie - Ninh Binh Expressway project with 50 km long route, was invested by the charter capital and sovereign bonds guaranteed by the Government.
On April 25, 2009, VEC started Noi Bai-Lao Cai Expressway project with 245 km length. It's the longest expressway in Vietnam as of the present time. The exploitation of Noi Bai - Lao Cai expressway has created the momentum economic restructuring of Northwest minority ethnic, connecting economic centers, industrial parks, tourism and entertainment at North.
On October 3, 2009, Ho Chi Minh City - Long Thanh - Dau Giay Expressway project was started by VEC. This was the first project by the VEC as an investor funded by mixed ODA and OCR loans. The Ho Chi Minh-Long Thanh-Dau Giay project exploited the maximum strengths of Ho Chi Minh City and Dong Nai province, to promote the efficiency of capital use of Thi Vai and Cai Mep deep-water port, to reduce traffic congestion on Highway 1 and Highway 51.
The expressway which has the largest total investment in Vietnam is Ben Luc-Long Thanh Expressway project, also invested by VEC, started construction on July 19, 2014, with a total length of 57 km. VEC is currently preparing for investment of Hanoi - Lang Son Expressway project (section Km1 + 800 - Km45 + 100).
Goals by 2020, VEC will complete investment of about 1,000 km of expressways, and in the future, they continue to actively study and implement projects in the planning of Vietnam expressway network to build at least 2,000 km of expressways under the direction of the Ministry of Transport.