Vietnam PM Oks Adjustment of Japan-funded Road Project

Vietnamese Prime Minister Nguyen Tan Dung has agreed authorities of Ho Chi Minh City to make an adjustment for East-West Boulevard project, funded by the Japan Bank for International Cooperation (JBIC). However, Dung noted that the adjustment is not exceeded the signed Japanese loan and the government reciprocal capital, the Phap luat Vietnam newspaper reported Mar 16. The East-West Boulevard project with a total length of 21.98 kilometers include construction of a 1.49 km tunnel under Saigon River, 10 bridges and upgrading three existing bridges. Earlier, the local authorities sought government’s approval to raise capital for East-West Boulevard project by VND3.54 trillion ($170.19 million) from an initial capital of VND8.1 trillion. The boulevard was kicked off in 2002 and was slated for completion in 2005; however, the project has not been completed and may be extended until the third quarter of this year. (Phap luat Vietnam – Vietnam Law Mar 16 p2, chinhphu.vn Mar 15)