This transport link will help open up Vietnam’s western provinces in the Mekong River Delta and support their economic and industrial development.
Rustam Ishenaliev, a specialist from ADB’s Southeast Asia Department, said Vietnam has a rapidly growing export-led economy, and the Mekong Delta is a key economic driver which produces over 60% of the country’s agricultural and fishery outputs and the third largest industrial center.
The ADB-funded project will build a section of the Second Southern Highway, comprising two cable-stayed bridges with a combined length of 5km and associated access and interconnecting roads totaling 26km. The road, which is scheduled to be open to traffic by the end of 2017, will run on the boundaries of An Giang, Can Tho, and Dong Thap provinces to the west of the Mekong Delta.
In addition to transport convenience, the project is expected to support more inclusive development, improve access to basic social and health services, increase national food security and facilitate private sector investment in the region.
The project is estimated to cost US$860 million, with US$410 million financed by ADB’s Ordinary Capital Resources and AUD$160 million by the Australian Agency for International Development (AusAID). The Export-Import Bank of Korea will grant US$260 million, while the Government of Vietnam will contribute US$56 million.