Vũng Tàu City in Bà Rịa Vũng Tàu Province. The province aims to speed up the progress of national key projects over the next five years. Photo courtesy of the provincial People’s Committee

HCM CITY— The southern coastal province of Bà Rịa - Vũng Tàu has asked the Government to allocate capital from the central budget to speed up progress of national key projects in the province over the next five years.

Of the 16 major public-invested projects, three of the most important projects are the Biên Hòa – Vũng Tàu expressway, Phước An Bridge and 991B Road, according to the provincial People’s Committee.

Nguyễn Văn Thọ, chairman of the People’s Committee, said the three national key projects would connect the southern key economic region with the Cái Mép – Thị Vải deepwater port, a key port in the region. 

“The port system can receive large container vessels of up to 200,000 deadweight tonnage (DWT) and is capable of international goods transport, which allows direct export to the EU and the US without transshipment, reducing logistics costs and improving the competitiveness of Vietnamese goods,” he said.

The expressway, connecting Biên Hòa City in Đồng Nai and Bà Rịa City in Bà Rịa - Vũng Tàu, is expected to be completed and opened to traffic by 2025.

The province said it had asked the PM to approve the pre-feasibility study for the first phase of the project, which will be implemented under the build-operate-transfer (BOT) investment model.

To build the expressway, around 34.2km of the road will be built in Đồng Nai and 19.5km in Bà Rịa-Vũng Tàu. 

The project requires an estimated investment of VNĐ23.075 trillion (US$995.52 million), according to the provincial People’s Committee.

The province proposed that VNĐ9.95 trillion should be sourced from the State budget to fund site clearance and construction of the section in the province, and that VNĐ13.125 trillion should come from the private sector.

The developer of the project will mobilise the remainder from its own budget and bank loans. To recover capital, the investor will be allowed to collect toll fees from road users for about 25 years.

The expressway is expected to ease traffic congestion on National Highway 51, and facilitate travel between Đồng Nai and Bà Rịa - Vũng Tàu provinces and HCM City and the southern key economic zone. 

Another national key project is the Phước An Bridge, which will connect the Cái Mép-Thị Vải port complex with the Bến Lức - Long Thành expressway. 

The 4.3-km bridge will be built in Phú Mỹ Town in Bà Rịa Vũng Tàu Province and Nhơn Trạch District in Đồng Nai Province. 

The bridge is expected to cost VNĐ4.879 trillion. The province has asked for an allocation of 50 per cent of the cost (VNĐ2.4 trillion) from the central government budget over the next five years.  

In addition, the 991B road is an important project with a total cost of VNĐ3.95 trillion, of which the central government has already allocated VNĐ920 billion. The province has asked the government to arrange an additional VNĐ2.227 trillion over the next five years.

Call for investment in 23 projects

In addition to 16 key public-invested projects, the province is calling for investment in 23 national key projects, according to a report from the provincial People’s Committee.

These projects include ports, cultural parks, airports, roads, inspection centres, tourism services, and urban area works.

Of the 23 projects, nine land plots will seek investment through auction of land-use rights and public property auctions, including one that has already been successfully auctioned.

In addition, the province has added the April 30th Park in Bà Rịa City and a national grid system for Côn Đảo District to the list of key projects that need speeding up.

Phạm Viết Thanh, secretary of the Provincial Party Committee, said the province would choose qualified and reputable investors to carry out the projects. 

“Relevant localities and agencies must follow the progress of each of the key projects and remove difficulties in a timely way and deal with arising problems,” he noted.  

With a coastal line of over 30km, Bà Rịa – Vũng Tàu serves as the country’s major trade gateway due to its proximity to industrial zones, port complex, major highways, and transshipment routes. 

Located on the southeastern coast, the province is one of the leading foreign direct investment (FDI) sites in Việt Nam. — VNS