Vietnam, Australia sign agreement to lauch Aus4Transport

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“Australia has a long history of supporting development of the transport sector in Vietnam” said H.E. Mr Craig Chittick, Australian Ambassador to Vietnam, “starting with the original “Friendship Bridge” at My Thuan in 2001, the first cable stayed bridge in Vietnam, and now with the Cao Lanh Bridge, which we expect will open in the coming months”.

 “Aus4Transport marks a new era in our assistance. We want to work with Vietnam to ensure its bankable projects attract international finance and make it to implementation more quickly. By supporting the right reforms, we are aiming to help Vietnam deliver better value for money in its own projects.”

“This is a great example of Australia’s economic partnership with Vietnam in action”, he said.

 Aus4Transport will provide funding and expertise to develop new transport projects from the concept stage, up to the start of construction. It will also strengthen partnerships between Australian transport institutions and the Ministry of Transport to help share Australia’s world leading experience in areas like transport planning, infrastructure finance, and road safety.

“New investments in transport infrastructure are critical to sustaining economic growth in Vietnam”, said Minister of Transport, H.E. Mr Nguyen Van The, at the launch. “Aus4Transport will support us with flexible finance and the expertise necessary to ensure projects are developed to the highest quality”.

Aus4Transport will run from 2018 until 2022 and expects to develop five new major road projects. However, its impact will extend far beyond these projects by demonstrating new models and policies that can improve value for money across all of Vietnam’s transport investments.