Over 6.2 billion USD needed for expanding North-South expressway

The Ministry of Construction has proposed expanding the 1,144-km eastern wing of North-South expressway from Hanoi to Ho Chi Minh City from four to six lanes, at an estimated cost of 152.1 trillion VND (around 6.2 billion USD).

A section of the North–South Expressway with a limited four-lane configuration has been put into operation. (Photo: Vietnam+)

The Ministry of Construction has proposed expanding the 1,144-km eastern wing of North-South expressway from Hanoi to Ho Chi Minh City from four to six lanes, at an estimated cost of 152.1 trillion VND (around 6.2 billion USD).

In its report to the Prime Minister, the ministry outlined special investment mechanisms, including the appointment of contractors for consultancy and construction packages, with a preference for firms that have previously worked on sections of the expressway. Additionally, construction companies will be exempted from mining permits for common building materials.

If approved, the ministry aims to secure the legislature’s investment policy approval by June 2025, with construction expected to begin in the fourth quarter of this year. The project is projected to disburse between 23–35 trillion VND (940 million - 1.43 billion USD) in 2025, with the remaining between 2026 and 2027.

Officials emphasised that the upgrade is essential to accommodate rising traffic demand, support the target of 8% GDP growth, and help achieve a GDP of 500 billion USD in 2025. It is also expected to enhance traffic safety and address the limitations of the current four-lane expressway.

Economy

Measures needed to adapt to US tariffs: Experts
Economy

Measures needed to adapt to US tariffs: Experts

Economists underlined the need for Vietnamese Government and businesses to apply measures to adapt to the new tariff policy of the US to maintain growth during a meeting held by the Ho Chi Minh City Department of Industry and Trade on April 8.

Proposed VAT reduction expected to boost consumption, businesses' growth
Economy

Proposed VAT reduction expected to boost consumption, businesses' growth

The Ministry of Finance (MoF) has proposed a 2% reduction in value-added tax (VAT) from July 1, 2025 to December 31, 2026, expanding eligibility to include fuel, petroleum, and certain technology products and services. Experts have believed the measure will stimulate consumption, support businesses, and drive economic growth.

Aquacultural cooperation exemplifies Vietnam - Cuba relations
Economy

Aquacultural cooperation exemplifies Vietnam - Cuba relations

Floating fish cages on La Juventud reservoir in Palacios town, Pinar del Rio province, stand as a testament to the Vietnam – Cuba friendship as Vietnam's tilapia farming technology has transformed this region into a key aquacultural hub, contributing to the Caribbean nation’s food security.