Vietnam among top domestic infrastructure investors: Ambassador

Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN) (Photo: VNA)

Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7 percent of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).

Addressing a high-level debate on promoting sustainable development through infrastructure connectivity as part of a ‘Sustainability Week’ held by the UN General Assembly (UNGA) in New York on April 18, Giang emphasised that building a modern and harmonious infrastructure system is one of the three strategic breakthroughs identified by the Vietnamese government for sustainable development.

So far, Vietnam has put into operation 1,729 km of expressways and aims to lift the total to 3,000 km by 2025, he said, adding that Vietnam continues it is continuing to develop infrastructure connectivity with neighbouring countries, including Laos, thus promoting regional and inter-regional connectivity.

The Vietnamese Government continues to prioritise the development of sustainable infrastructure through investment in renewable energy, and green transportation systems, as well as promoting the production and use of electric public vehicles, he noted.

The diplomat thanked official development assistance (ODA) partners for their timely and effective support for Vietnam's infrastructure development projects.

He affirmed promoting connectivity between and within countries is essential for economic development, job creation, ensuring supply chain efficiency, and enhancing sustainability.

The diplomat proposed the enhancement of international cooperation and solidarity through financial and technical support to narrow the infrastructure development gap, particularly with developing countries.

Countries need to enhance the resilience of their infrastructure systems by investing in renewable energy, green transportation technology, and digital infrastructure, with institutional and financial contributions by both public and private sectors, he said.

Global efforts towards infrastructure connectivity should closely link with regional and national initiatives, he continued, taking the example of the Master Plan on ASEAN Connectivity 2025 aimed at enhancing regional connectivity and facilitating seamless support throughout the lifecycle of infrastructure projects in the region.

UNGA President Dennis Francis highlighted the importance of infrastructure development strategy in achieving all sustainable development goals, while emphasising the need to enhance financial support and investment in high-quality, reliable, and sustainable infrastructure.

Participants also shared experience and challenges in narrowing the gap in infrastructure development and connectivity, and discussed how to promote partnership, solidarity, and innovation for sustainable infrastructure development.

The "Sustainable Week" held from April 15 -19, is an initiative of the President of the 78th Session of the UNGA to convene a series of high-level meetings of the UNGA to discuss topics related to sustainable development, contributing to mobilising political will to accelerate the implementation of the 2030 Agenda for Sustainable Development.

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