|Looking for another avenue|
|00:01' 10/12/2007 (GMT+7)|
The number of vehicles is increasing, while city streets are too narrow aggravating traffic jam. It is estimated that traffic jams cost the nation’s economic heart about $875 million per year.
Ho Chi Minh City is in the midst of an economic boom, but traffic jams are the scourge of the city. It is inhibiting, even restricting the city’s development.
The slow development of transport infrastructure is a hot issue that businesses, both foreign and local, are demanding be addressed by authorities.
Vietnam began its economic renovation programme in 1986 and the economy has recorded strong growth as it attempts to integrate with the emerging international order. Last year, the country’s economic growth was 8.2 per cent and it is expected to reach 8.7 per cent this year.
Over the past decade, the transport sector has positively contributed to Vietnam’s economic growth. Developing large-scale transport infrastructure in Vietnam has helped open up new business opportunities and promote income diversification and off-farm employment, facilitating the spread of economic linkages between growth centres and their surrounding rural areas, proving the importance of connecting remote areas to trunk routes with feeder roads.
Vietnam needed to urgently build more highways to ease congestion situation and help enterprises save on transport costs, said Rick Howarth, general manager of Intel Vietnam.