Vietnam Seeks Consultants for $301M WB-funded Road Upgrading Project

Directorate for Roads of Vietnam will issue tender document late September to seek consultants for the Vietnam Road Asset Management Program (VRAMP) funded by the World Bank (WB).  The $301.7 million VRAMP aims to upgrade 544 kilometers of highways, sections of National Highway No. 38B, 38, 39-1 and 39, the state-run Dau Tu newspaper reported. The WB agreed to grant $1.7 million and lend $250 million from International Development Association (IDA) for the project. Since 1993, the WB has provided nearly $14 billion in credit, loans and grants to help Vietnam sustain growth and fight poverty. As Vietnam’s biggest multilateral donor, WB pledged $2 billion in ODA for Vietnam in 2012. Vietnam, which needs up to $16 billion for transport infrastructure projects per year, can only afford half of the sum. Transport infrastructure development is among urgent tasks for Vietnam to improve its business climate. (Dau Tu – Investment Sept 24 p2)