Proposing plans for establishing a transport infrastructure development fund in the Southeast Region

​(News Portal – Dong Nai) - Infrastructure development fund with appropriate capital mobilization mechanism to invest in the construction of inter-regional transport infrastructure is a necessary solution to promote connectivity and create motivation for development for the Southeast Region. 

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Ben Luc - Long Thanh Expressway is one of the regional transport infrastructure projects currently under construction. 

Looking for effective resource mobilization mechanisms

The Southeast region is considered the most dynamically developing economic region in the country, but the transportation infrastructure is still limited. It is this bottleneck that has prevented the region from fully utilizing its potential and strengths to promote economic and social development.

In that context, focusing on establishing mechanisms and policies, as well as mobilizing investment resources to develop inter-regional transport infrastructure systems is considered one of the key solutions to promote economy and society development of the Southeast region in the coming time.

According to Minister of Planning and Investment Nguyen Chi Dung, the Southeast Region is being developed as a region with a modern economic structure, high economic growth rate, and the largest growth driving force in the country; the center of science - technology and innovation, high-tech industry, logistics and a highly competitive international financial center in the area...

To achieve these goals as well as create a large, unified development environment, it is necessary to have solutions to mobilize investment capital, including research into forming a regional infrastructure development fund. From there, the region can mobilize and effectively use resources on the basis of leading public investment and activating non-state resources to maximize the potential and advantages of the region. In particular, priority should be given to central budget sources from reserve sources, increasing revenue to invest in urgent inter-regional projects.

At the first conference of the Southeastern Region Coordination Council held in mid-July, the leaders of the Provincial People's Committee also said that having a common infrastructure investment fund for the entire region with an open mechanism will promote the development process and connect localities in the region.  

Choosing a fund creation plan

At the 3rd exchange and cooperation conference between localities in the Southeast region (third quarter of 2023) held in Ba Ria - Vung Tau province last October, leaders of Ho Chi Minh City People's Committee said, recently, the Ho Chi Minh City Institute for Development Studies coordinated with a group of specialists from World Bank to organize a scientific conference "Specific mechanism for the development of the Southeast region: Proposing a financial and investment mechanism for development region". Attending the conference were representatives of a number of departments, provinces in the region, experts, scientists... At the conference, the 5 options for establishing an infrastructure development fund for the Southeast region was proposed.

According to the Ho Chi Minh City People's Committee, in order to quickly establish an infrastructure development fund for the Southeast Region, the Ho Chi Minh City People's Committee requested the People's Committees of the Southeast provinces to research and give opinions on 5 options for establishing the fund. From there, Ho Chi Minh City People's Committee will gather the comments and send them to the Ministry of Finance. At the same time, it is recommended that the Ministry of Finance soon preside and coordinate with the Ministry of Planning and Investment and the People's Committees of localities in the region to research and form a regional infrastructure development fund in 2023 and report to the Prime Minister. ​