Vinh Thinh bridge funded by Korea
Tens of key projects funded by South Korea
Asserting that South Korea is the second largest bilateral donor after Japan for Vietnam’s transport sector, Deputy Minister of Transport Nguyen Hong Truong says that since 1996, the Korean Government has supported about 24 million USD for Vietnam to implement the Project on renovating and upgrading National highway No. 18. However, due to regional financial crisis, aid from the South Korean government was then suspended and until 2007, South Korea resumed loans for transport sector.
As stated by Deputy Minister Truong, a number of major projects have been implemented and completed by Ministry of Transport with the support of the South Korean Government with a total value of 378.46 million USD, including: Reconstructing Chi Linh – Bieu Nghi section of National highway No.18 (36 million USD); Constructing Vinh Thinh bridge (100 million USD); Ho Chi Minh city – Trung Luong highway ITS System (30 million USD) and Southern Coastal Corridor Project phase 1 (202.46 million USD).
5 other projects with a total value of USD 615.84 million are underway, including Vam Cong bridge; Lo Te - Rach Soi Route; Path to Vam Cong bridge; Hung Ha bridge and Thinh Long bridge.
In addition to the above projects, Vietnam also proposes Korean Economic Development Fund (EDFC) to finance other 7 projects with a total value of 1,224 million USD, including Tan Van - Nhon Trach road Project of Belt 3 – HCM city (200 million USD); Credit project constructing bridges connecting national highways (100 million USD); Project on renovating Khe Net mountain pass (Km414 - Km 423) Thong Nhat railway (85 million USD); Project on reconstructing Hoa Duyet - Thanh Luyen section (Km358 + 000 - Km369 + 620) Thong Nhat railway (68 million USD); Project on Dau Giay - Lien Khuong high way, Tan Phu – Lien Khuong section (442 million USD); Bien Hoa - Vung Tau high way project, Tan Thanh - Vung Tau section (222 million USD) and Project on improving safety on the railway bridge Hanoi - Ho Chi Minh City, Phase 2 (107 million USD).
Another information stated by Deputy Minister Nguyen Hong Truong is that Ministry of Transport, at present, is in combination with Korean International Cooperation Agency (KOICA) to prepare two cooperation projects under the form of non-refundable aid, consisting of Project on technical support to improve the competence for organization and management (O&M) of the network of Vietnam’s high way (grant aid of 1.5 million USD) and the technical support project to set up Vung Ang – Tan Ap – Mu Gia railway projects.
Six airlines are exploiting Vietnam – South Korea flight route
Apart from road, aviation is one of many fields which are placed under close cooperation of Vietnam and South Korea. Mr. Luu Van Doan, Head of International Cooperation (Civil Aviation Authority of Vietnam), says that the air transport agreement between Vietnam and South Korea has officially been signed since 1993.
Currently, 6 airlines in the aviation market between the two countries, including Vietnam Airlines, VietJet of Vietnam, Korean Air (KE), Asiana Airlines (OZ), Jeju Air (7C) and Air Busan (BX) of South Korea, are exploiting the routes from Hanoi, Da Nang, Nha Trang and Ho Chi Minh City to Seoul (ICN) and Busan
Statistically, total Vietnam – South Korea air transport market in 7 first months of 2015 reaches more than 1.4 million of passengers, over 52 thousand tons of cargo, representing an increase of 33% in terms of passengers and 25% in terms of cargo compared to the same period of 2014. Average chair-using coefficient is 74.4%.
Along with aviation and road, bilateral cooperation between Vietnam and South Korea on Maritime sector also witnesses significant progress. In practice, the cooperation on Maritime sector mainly focuses on the field of shipbuilding, design and construction of seaports and provides export credit to invest in the fleet, construct and purchase loading equipment. Ministry of Transport is now calling South Korea to continue strengthening the cooperation in the aforesaid fields in order to promote business cooperation activities between enterprises of the two countries.
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* On September 9-12, the delegation of the Ministry of Transport headed by Minister Dinh La Thang will come to South Korea to attend the ASEM Forum on Asia – Europe Network of Transport and Logistics. On this occasion, Minister Dinh La Thang will also have a bilateral talk with the Minister of Land, Infrastructure Transport of South Korea Yoo Il-ho, working with the Chairman of the Economic Development Cooperation Fund of Korea ( EDCF). In addition, the Minister will also visit and examine a number of transportation works in Korea regarding high way, railway and aviation.
* Besides supporting the infrastructure projects, the South Korean government also provides fund to Vietnam in training and improving the competence of transport officials. By means of bilateral and multilateral training cooperation programs with the participation of Vietnam and South Korea, Vietnam has sent many employees to attend courses in Korea in respect of highway, aviation, railway, intelligent transportation systems (ITS), seaport development management, etc...
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