US, ASEAN firms eye infrastructure projects

The US-ASEAN Business Council is discussing with Viet Nam ministers potential partnerships with major US companies to improve and expand Southeast Asian infrastructure.

A council business delegation visited Viet Nam on June 8-10 and held meetings with key officials and domestic business representatives in a mission held annually since Viet Nam joined the Association of Southeast Asian Nations (ASEAN) in 1995.

The delegation included senior executives from 22 leading firms and was co-led by council president Alexander Feldman and General Electric’s Stuart Dean, who is chairman of the Council’s Viet Nam committee.

“As Viet Nam looks to become more export-driven, opportunities will expand significantly for companies to help upgrade Viet Nam’s existing network of ports, railways, and other transportation facilities,” said Dean.

“Viet Nam has averaged over 7-per-cent economic growth for the past seven years, and improving its infrastructure will help sustain this impressive record,” said Feldman, adding that “Viet Nam’s ambitious plans for future development require high-quality foreign investors to succeed, making US companies ideal partners in building Viet Nam for the future.”

Feldman was also enthusiastic about Viet Nam’s role in helping develop regional architecture. “As the chair of ASEAN for 2010, Viet Nam has an important opportunity to keep regional goals for economic integration on track,” he said. “We’ve been very impressed by the Vietnamese Government’s efforts to advance ASEAN Single Window and e-customs plans.”

“Specifically regarding Viet Nam as a priority country, the committee has identified three key areas – funding, improving execution of infrastructure development and increasing investing in mining,” Feldman said.

Investors were also looking at projects including roads, bridges, ports, healthcare and education, he said.

The council had been working closely with the Vietnamese Government in pursuing its plans, he added.

Deputy Chairman of the HCM City People’s Committee, Nguyen Trung Tin, said at the meeting that infrastructure development was an urgent task for ensuring sustainable growth.

HCM City needs around VND256 trillion (US$13.5 billion) by 2020 for projects including the electric railway and metro systems, underground parking areas, ring roads and waste treatment, he said. — VNS

Tags: Vietnam Infrastructure