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The Ministry of Transport has proposed to the Government a plan to undertake a series of highway construction projects with a total length of 6,000km and a total investment of US$60 billion.
Chinese plastic products, construction materials, clothes and footwear are forecast to pour into Vietnam in 2009 – the so-called ‘Chinese junk storm’.
Minister of Transport Ho Nghia Dung has asked contractors to expedite construction of major transport projects in southern provinces, some of which he said would be "hard nut[s] to crack".
Toyota Tsusho Corp (8015.TSE), a trading house affiliated to the Toyota Motor Corp., is set to import rare-earth metals from India and Vietnam, a move that will give the auto giant independent sources of these key materials for the production of its hybrid cars.
The southern province of Dong Nai will begin work on a major bridge, road, hospital and agricultural extension project this year.
Vietnam lowered fuel prices by 8 percent Tuesday as world oil prices fell to three-year lows.
Under a government-approved plan, Vietnam will have 20 expressways totalling 5,873km, with total investment of nearly US$50 billion. However, the investment is said to be too big for the state budget to cover alone.
The Sun Steel Joint Stock Company (Sunsco) has begun the construction of a steel mill in Tan Dong Hiep commune, Di An district, southern Binh Duong province at a cost of more than 35 million USD.
Prime Minister Nguyen Tan Dung has approved a master plan for developing the country’s urban areas by 2025. It lays out the step-by-step creation of a network of urban areas with similar infrastructures and populations.
The Ministry of Construction has submitted a plan to urbanize seven provinces surrounding Ho Chi Minh City to create a 30,000-square-kilometer metropolitan area with the former Saigon as its heart.
A cautious policy of managing foreign debts at safe rates helped Vietnam minimise the adverse impacts of the Asian financial crisis in 1997, and is helping them weather the storm of the recent US financial crisis.
