World Bank2013-03-272013-03-272008-12https://hdl.handle.net/10986/12984Vietnam's rapid economic growth continues to create new demands for transport infrastructure and services. Bottlenecks to business activities caused by infrastructure constraints are already appearing in several areas. High rates of urbanization, rising traffic accidents, new capacity constraints, and a large increase in asset preservation requirements to meet the fast expansion of transport assets presents further challenges to the sector. To address these infrastructure bottlenecks, and to gradually remove the transport constraints on industry, Vietnam is embarking on an ambitious expressway development program. To date the transport sector has facilitated this growth principally through the rehabilitation and widening of existing arterial roads. The national road network has expanded to 17,000 km, the overall condition has improved with 66 percent of the network being in good and fair condition and 84 percent of the network is now paved. If traffic growth rates continue at their current rate these constraints could adversely impact future economic development. The successful development of an expressway system is a significant physical and financial commitment which will require a number of changes to laws, regulations, institutions and operations of the network.en-USCC BY 3.0 IGOACCOUNTINGAIRPORTSAMORTIZATIONARTERIAL ROADSASSET BASEASSET VALUEAUCTIONAUCTIONSAUTO OWNERSHIPBACKED BONDSBIDBIDSBONDBOND FINANCINGBOND HOLDERSBOND ISSUEBOND ISSUESBOND OPTIONBONDSBORROWERBOTTLENECKSBRIDGEBUSBUSESCAPACITY CONSTRAINTSCAPITAL BASECAPITAL GRANTCARCAR OWNERSCAR OWNERSHIPCARSCASH FLOWCOMMERCIAL BANKSCOMPETITIVE BIDDINGCONFLICT OF INTERESTCONGESTIONCONTINGENT LIABILITIESCONTINGENT LIABILITYCORPORATE BONDSCREDIT RATINGCREDITWORTHINESSCROSSINGSCURRENCYDEBTDEBT BURDENDEBT FINANCINGDEBT REPAYMENTDEBT REPAYMENTSDEMAND FOR TRANSPORTDEMAND FOR TRANSPORT SERVICESDEPOSITSDEVELOPING COUNTRIESDEVELOPMENT BANKDISCOUNT RATEDOMESTIC BORROWINGDOMESTIC CAPITALDOMESTIC DEBTECONOMIC DEVELOPMENTECONOMIC EFFICIENCYECONOMIC GROWTHENVIRONMENTAL REGULATIONSEQUIPMENTEQUITY INVESTMENTEXCHANGE RATEEXPENDITUREEXPENDITURESEXPRESSWAYSEXTERNAL BORROWINGEXTERNAL DEBTFINANCIAL MARKETSFINANCIAL PERFORMANCEFINANCIAL SUPPORTFINANCIAL SUSTAINABILITYFINANCING REQUIREMENTSFISCAL POLICYFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFREEWAYFUELFUEL TAXGOVERNMENT BONDGOVERNMENT BOND MARKETGOVERNMENT BONDSGOVERNMENT BORROWINGGOVERNMENT BUDGETGOVERNMENT DEBTGOVERNMENT FUNDINGGOVERNMENT INVESTMENTGOVERNMENT OWNERSHIPGOVERNMENT POLICIESGOVERNMENT POLICYGOVERNMENT SUPPORTGROSS DOMESTIC PRODUCTHEAVY TRUCK VOLUMESHIGH SPEED VEHICLESHIGHWAYHIGHWAY AUTHORITYHIGHWAY CONSTRUCTIONHIGHWAY NETWORKHIGHWAY SYSTEMHIGHWAY TOLLSHOLDINGHUMAN RESOURCEINCOME LEVELSINDIVIDUAL INVESTORSINFLATIONINFLATION RATEINFRASTRUCTURE DEVELOPMENTINFRASTRUCTURE FINANCEINFRASTRUCTURE INVESTMENTINFRASTRUCTURE PROJECTSINSTITUTIONAL INVESTORSINTEREST RATEINTEREST RATE DIFFERENTIALINTEREST RATESINTERNATIONAL BANKINTERNATIONAL BORROWINGINTERNATIONAL DEVELOPMENTINTERNATIONAL STANDARDSINVESTINGINVESTMENT CAPITALJOINT STOCK COMPANYLANESLEGAL FRAMEWORKLEGAL INSTRUMENTLEGAL INSTRUMENTSLEVEL OF RISKLOANLOCAL CURRENCYMARKET FOR BONDMARKET INSTABILITYMATURITYMATURITY DATEMINISTRY OF TRANSPORTMINORITY SHAREHOLDERSMOBILITYNATIONAL HIGHWAYSNATIONAL TRANSPORTOUTSTANDING DEBTPEDESTRIANSPORTFOLIOPOTENTIAL INVESTORPRIVATE DEBTPRIVATE EQUITYPRIVATE FINANCEPRIVATE FINANCINGPRIVATE FOREIGN INVESTORSPRIVATE INVESTMENTPRIVATE INVESTORPRIVATE INVESTORSPUBLIC ACCEPTABILITYPUBLIC DEBTPUBLIC FINANCEPUBLIC FUNDSPUBLIC INVESTMENTPUBLIC PARTNERSHIPPUBLIC PARTNERSHIPSPUBLIC WORKSPURCHASING POWERRAILWAYRAPID TRANSITREGULATORY AUTHORITYREGULATORY FRAMEWORKREGULATORY OVERSIGHTRESERVERESETTLEMENTRETURNRETURNSREVOLVING FUNDRING ROADSROADROAD DEVELOPMENTROAD FACILITIESROAD INFRASTRUCTUREROAD INVESTMENTROAD MAINTENANCEROAD NETWORKROAD SAFETYROAD SECTORROAD SPACEROAD SYSTEMROAD TRAFFICROAD TRANSPORTROAD TRANSPORT SERVICESROAD USERROAD USERSROADWAYSAFETY ISSUESSHAREHOLDERSIGNAGESOURCES OF FINANCESTOCK EXCHANGESTOCK MARKETTAX REVENUETOLLTOLL BOOTHSTOLL COLLECTIONTOLL REVENUESTOLL ROADTOLL ROADSTOLLSTRAFFICTRAFFIC ACCIDENTSTRAFFIC GROWTHTRAFFIC LEVELSTRANSACTIONTRANSACTION COSTSTRANSIT AUTHORITYTRANSPARENCYTRANSPORTTRANSPORT ACTIVITYTRANSPORT CAPACITYTRANSPORT ENGINEERINGTRANSPORT INFRASTRUCTURETRANSPORT INVESTMENTSTRANSPORT SECTORTRANSPORT SERVICETRANSPORT SYSTEMTRANSPORT SYSTEMSTRANSPORTATIONTRAVEL TIMETRAVEL TIMESTRAVELERSTRUCK TRAFFICTRUCKSTYPES OF ROADVARIABLE RATESVEHICLEVEHICLE FLEETVEHICLE OPERATINGVEHICLE OPERATING COSTSVEHICLE REGISTRATIONSVEHICLE SPEEDSVEHICLE USAGEVEHICLESWorld Bank10.1596/12984