Infrastructure Update | December 1, 2017

Infrastructure Update | December 1, 2017
Authors: Sunita Kapoor, Jack Myint, Kirthana Ganeson
 
LOOKING AHEAD
 
 
Dec 6 - 8: 2017 Myanmar Business Mission
Please save the date for the US-ASEAN Business Council's annual business mission to Nay Pyi Taw and Yangon, Myanmar on December 6-8, 2017. Official invitation with registration details to follow. Requested meetings include: President U Htin Kyaw, State Counsellor Daw Aung San Suu Kyi, Key Cabinet Ministers, Members of Parliament including Speaker of the Pyithu Hluttaw (Lower House) U Win Myint, Myanmar Investment Commission, and the UMFCCI. Please contact Jack Myint at jmyint@usasean.org with any questions or to express interest.
 
THE COUNCIL'S TAKE
 
 
Investments Crucial to Bridge Infrastructure Gap in Myanmar
Despite the turbulent political landscape, Myanmar still remains as a high achieving economy on the global scale. In a recent study jointly published by Baker McKenzie and The Economist, Myanmar’s economy is projected to have experience an average 7.3 percentage of real GDP growth a year to 2022.

The report outlines that the main driver of the economy is foreign-invested projects, in key areas such as energy, telecommunications, transport and water. The government has ambitious plans to electrify the nation by 2030, beckoning innovative generation and distribution methods in the energy sector. In the local telecommunications sector, smartphone ownership has seen rapid growth, reaching over 90% of the population within 5 years.

However, with urbanization comes problems that is out of the country’s capacity. A growing passenger and freight transport network has already led to accelerated road degradation and lengthy traffic delays. As with water and sanitation, rapid urbanisation of Myanmar’s metropolitan centres is creating previously unseen challenges.

Due to this, there is now a need for industry and business experts to weigh in on how they perceive Myanmar’s infrastructure needs can be met in order to fuel the ongoing growth of the nation’s economy and development. The current forecast, however, is less than desirable, projecting a gap between the funding needed for the ambitious infrastructure growth that Myanmar needs, and the combined local and foreign investment that will be available.

For the full report, titled ‘Building Myanmar: Bridging the Infrastructure Gap’, by Baker McKenzie and The Economist, click here.

Philippines making strides in Build Build Build initiative
With the Duterte administration heralding the next 5 years as the Golden Infrastructure Age of Philippines, the government is working hard on the Build, Build, Build Initiative. The Duterte administration commits to boost public spending for infrastructure from the current 5.1 percent to 7.4 percent of gross domestic product by end of his term. It hopes to attract more investments into the country by focusing on three components: firstly, by building more railways, urban mass transport, airports and seaports, secondly, by constructing more bridges and roads, and thirdly, by structuring new and better cities.

To date, Duterte has already approved the auction of 21 projects worth $16 billion, including the overhaul of Manila’s shabby airport and a railway line on Mindanao island in the south. Other projects include upgrading ports, roads, rail links and irrigation. Despite prior security problems linked to the spread of Islamic State militancy on Mindanao, investors have continually welcomed the commitments, with visible progress on the ground.

The administration has recently managed to secure a partnership with billionaire and founder of Alibaba, Jack Ma, who is determined to use his expertise to improve internet speeds, e-commerce and other ICT-based logistic systems and services that will enhance infrastructure capabilities in the Philippines.
 
Singapore cuts vehicle growth rate to zero
Singapore has announced that it will be freezing the number of private cars on its road, in efforts to curb over-congestion and promote increased usage of public transport. The Land Transport Authority (LTA) had announced that it would cut its permitted vehicle growth rate of all private cars and motorcycles to a flat 0%, from the previous 0.25%. The freeze will be in effect starting February 2018, and it will affect cars that fall into Categories A (1600cc and below) and B (1601cc and above), as well as motorcycles.

This is part of Singapore’s push for more utilization and expansion of public transport. The government is currently investing billions of dollars in expansion and upgrading of public transit ventures - S$20 billion (USD$14.7 billion) for new railway infrastructure and $2.9 billion on upgrading existing train lines, as well as another $2.9 billion on bus contract subsidies over the next five years, according to LTA.

Upon the announcement, the Singapore Motor Cycle Trade Association (SMCTA) had requested for a meeting with the Land Transport Authority (LTA). The association has stated that the motorcycle industry has been impacted by other policy changes this year and there are concerns of the industry shrinking. 

The government said the move will be reviewed in 2020, where its successes and shortcomings will be assessed.
 
ADVOCACY UPDATE
 
 

As a follow-up from the Council's 2017 Business Mission to the  23rd ASEAN Transport Ministers' Meeting, the Council convened an Infrastructure Meeting with His Excellency, Secretary Arthur P. Tugade, Department of Transportation, Philippines on 20th November 2017, to discuss the upcoming "Build, Build, Build" projects and to brief U.S. companies on the Philippine Government's infrastructure vision and strategy.

The Council brought a delegation of 12 companies, namely 3M, Autodesk, Bechtel, Cargill, Caterpillar, Chevron, Dow Chemicals, Fluor, GE, Microsoft, Texas Instruments, and UPS.

Please refer to the notes from this meeting here.

 
IN THIS UPDATE
 
 
Indonesia
ADB to assist Indonesia with transport PPPs
Jokowi inaugurates Silangit International Airport
Transport Ministry Probes Snake Incident on Jakarta Commuter Train
Minister Pitches Transportation Projects to South Korea
Indonesia adopts PHL’s PPP model in addressing infrastructure-financing woes
Bogor - Bandung Double Track to Cost Rp1.1 Trillion
Government to allocate Rp3.17 trillion for infrastructure development near Malaysia border
PLN gets Rp 16.3t loan for constructing infrastructure
Gov't in Hurry to Fix LRT Financing by December

Laos
Vientiane-Vangvieng expressway works expected to start early 2018
Entertainment venues ‘must be 500 metres away from specific places’
PM urges full steam ahead for northern development, Laos-China railway

Malaysia
'ECRL will leave a great impact on the economy and the people'
Malaysia seeks social impact assessment for high speed rail
Questions raised about local participation as Malaysia issues new MRT tender
Malaysia to develop logistic partnership within Asean, China & Asia Pacific

Philippines
ODA hard to refuse because of low rates — DBM
DPWH eyes P50-B road project
Be it via PPP or BBB, PHL needs to bridge infrastructure gap fast–experts
DOTr to renew feasibility studies for regional airports
NIA, DPWH need more time to complete 2 infra projects
Govt to consider Clark airport plan
‘Government must be careful in choosing next MRT 3 maintenance provider’ | BusinessMirror
SMC proposes to extend NAIA Expressway to BGC

Singapore
Singapore opens new, high-tech airport terminal

Thailand
Job training for unskilled planned
Somkid says 2018 marks turning point
Land windfall tax gets review after hearings
Transport fund IPO postponed to 2018
Tourism officials confer with airlines
Electric trains may seek PPP
Government wants to attract luxury liners

Vietnam
Cars banned on Kim Mã to build metro station
AIIB wants to help Da Nang develop infrastructure
​ADB to lend Vietnam $170mn for urban infrastructure upgrade
 
ARTICLE CLIPS
 
 
Indonesia

ADB to assist Indonesia with transport PPPs Public Finance International 27th Nov 2017
The increased investment from the private sector would help improve the competitiveness of the state transport infrastructure in the country, the ADB said.

Jokowi inaugurates Silangit International Airport The Jakarta Post 24th Nov 2017
President Joko "Jokowi" Widodo has inaugurated Silangit International Airport, the main gate to the government-promoted tourist destination of Lake Toba and its surroundings in Tapanuli Utara regency, North Sumatra.

Transport Ministry Probes Snake Incident on Jakarta Commuter Train Jakarta Globe 22nd Nov 2017
The Directorate General of Railways at the Ministry of Transportation has launched an investigation into the circumstances surrounding the discovery of a snake on a commuter train in Jakarta on Tuesday (21/11).

Minister Pitches Transportation Projects to South Korea Tempo 10th Nov 2017
Transportation Minister Budi Karya Sumadi met with South Korean Land, Infrastructure and Transportation Minister Kim Hyun-mee in Jakarta today. The meeting was held following the signing of a bilateral agreement between the governments of Indonesia and South Korea at the Bogor Palace yesterday.

Indonesia adopts PHL’s PPP model in addressing infrastructure-financing woes BusinessMirror 9th Nov 2017
While taking a back seat in the Duterte administration’s infrastructure-development program, the Filipino brand of public-private partnership (PPP) has been adopted by Jakarta as the new cornerstone of Indonesia’s plan to bridge its own infrastructure gap.

Bogor - Bandung Double Track to Cost Rp1.1 Trillion Tempo 8th Nov 2017
Transport Minister Budi Karya Sumadi said construction of double track railway between Bogor and Bandung via Sukabumi and Cianjur is estimated to cost Rp1.1 trillion.

Government to allocate Rp3.17 trillion for infrastructure development near Malaysia border Antara News 8th Nov 2017
The central government is set to allocate another Rp3.17 trillion for the construction of several facilities near the border with Malaysia in North Kalimantan province. In a press statement released on Monday, North Kalimantan Governor Irianto Lambrie said he has received information that the central government would increase the budget fund for the construction of several facilities in the new province.

PLN gets Rp 16.3t loan for constructing infrastructure The Jakarta Post 2nd Nov 2017
State-owned electricity company PLN has obtained Rp 16.3 trillion (US$1.20 billion) of syndicated loan from banks and non-banks. It was a scheme that combined conventional and sharia financing – the conventional scheme contributed Rp 12 trillion and the sharia scheme contributed Rp 4.3 trillion – with a 10-year term.

Gov't in Hurry to Fix LRT Financing by December Jakarta Globe 2nd Nov 2017
TThe government is racing with time to prepare documents allowing state-owned construction company Adhi Karya to obtain the funding it needs to finish the light rail transit project in the greater Jakarta area.

Laos

Vientiane-Vangvieng expressway works expected to start early 2018 Vientiane Times 22nd Nov 2017
Construction of the Vientiane-Vangvieng expressway is expected to begin early next year after the governments of Laos and China signed a joint-venture investment deal on the project last week. The joint-venture agreement was among 17 cooperation documents signed during the two-day state visit to Laos by Chinese President Xi Jinping from November 13-14. Under the agreement, China will hold a 95 percent stake and the Lao government will hold the remaining 5 percent, an official in charge told Vientiane Times on Tuesday.

Entertainment venues ‘must be 500 metres away from specific places’ Vientiane Times 17th Nov 2017
The government has imposed a new regulation which requires places of entertainment to be located 500 metres or more from educational institutions, hospitals, government offices, and international organisations. Prime Minister Thongloun Sisoulith recently inked the 23-page Government Decree No. 315 detailing the criteria that an entertainment venue must meet. Such places, which include discotheques, nightclubs, bars, and karaoke clubs, must also be at least 500 metres from religious sites, monuments, ancient and sacred places, caves and other revered locations, according to the decree. Leisure facilities that are close to the places specified above are subject to relocation.

PM urges full steam ahead for northern development, Laos-China railway Vientiane Times 6th Nov 2017
Prime Minister Thongloun Sisoulith has called for authorities to speed up socio-economic development in the northern region during a tour of the provinces. The premier also made inspections of Laos-China railway construction sites in the northern provinces of Oudomxay and Luang Prabang in a bid to accelerate construction of the US$5.8 billion project. During his first stop in Bokeo province on Friday, Mr Thongloun asked provincial authorities to review the implementation of work in all sectors and related mechanisms in order to resolve any occurring barriers, the Public Relations Department of the Prime Minister’s Office said in a press statement.

Malaysia

'ECRL will leave a great impact on the economy and the people' NST Online 28th Nov 2017
KUALA LUMPUR: The East Coast Rail Link (ECRL) will be a game changer in transforming the people's socio-economy in the East Coast region, Deputy Finance Minister Datuk Othman Aziz told the Dewan Rakyat today.

Malaysia seeks social impact assessment for high speed rail The Straits Times 15th Nov 2017
Malaysia's MyHSR Corp will call for a tender to appoint a consultant to carry out social impact assessment, or SIA, for the Kuala Lumpur-Singapore High Speed Rail (HSR) project. Kuala Lumpur and Singapore signed an agreement last December to build and complete the HSR by 2026. MyHSR's CEO Mohd Nur Ismal Mohamed Kamal said the SIA tender is open to experienced companies registered with the Ministry of Finance. Individual consultants from companies that are responsible to conduct the study must be registered either with the Malaysia Institute of Planners or the Malaysia Social Impact Association. The SIA study is a requirement under Malaysian law for government mega projects.

Questions raised about local participation as Malaysia issues new MRT tender The Straits Times 14th Nov 2017
A tender for the third phase of Malaysia's MRT system has surprised industry analysts, with the government asking bidders to provide 90 per cent upfront financing for the over RM30 billion (S$9.7 billion) project. The government also want bidders to have handled urban projects costing RM10 billion in the past decade. Another surprising feature is the winning bidder would receive payment eight years later, with the payment spread out over 30 years. This has led to analysts saying that Malaysian companies are unlikely to be able to take part as lead contractors, due to the hefty financing requirement.

Malaysia to develop logistic partnership within Asean, China & Asia Pacific NST Online 13th Nov 2017
HONG KONG: Malaysia will focus on developing and expanding its logistics partnership within ASEAN, China and Asia Pacific countries, says Transport Minister Datuk Seri Liow Tiong Lai.

Philippines

ODA hard to refuse because of low rates — DBM BusinessWorld 29th Nov 2017
OFFICIAL development assistance (ODA) financing for infrastructure is difficult to turn down because of the low cost, and will help bring about a “revolutionary” revival of Philippine infrastructure, a budget department official said. Department of Budget and Management (DBM) Fiscal Planning and Reforms Bureau Director Rolando U. Toledo said during the panel discussion at the second Philippine Construction Congress that recent bilateral agreements have shifted the government’s focus outward. “We have bilateral discussion[s] with China and Japan… so you can just imagine the lower interest rate that is being offered to the Philippines. We cannot just say no to that, to the offers of Japan and China.” “That is probably one of the considerations of the government [in choosing how projects are financed].” Last week, the Philippines signed a memorandum of cooperation with Japan’s Ministry of Land, Infrastructure, Transport, and Tourism. Earlier, the Philippines signed an ODA deal for 10 bridge projects with China worth P146 billion. Mr. Toledo said that with the government’s plan to spend almost P9 trillion from 2017 to 2022, infrastructure spending will rise from 5.4% of the gross domestic product (GDP) in 2017 to 9.3% of GDP by the time President Rodrigo R. Duterte finishes his term.

DPWH eyes P50-B road project Philippine Daily Inquirer 27th Nov 2017
The Department of Public Works and Highways (DPWH) disclosed a plan to pursue a P50-billion road project that would connect Metro Manila to key provincial areas that ring the Laguna Lake. The project was dubbed the Laguna Lakeshore Road Network Project, which would be studied with the support of a technical assistance loan from the Asian Development Bank. Moreover, the DPWH expects the submission of technical proposals for roads and bridges on Dec. 1, 2017. According to the DPWH, the Laguna Lakeshore Road Network would span 90 kilometers and will link Bicutan in Taguig, Metro Manila, to Los Baños in Laguna and several towns in Rizal. The project’s implementation period will start from 2018 through 2026, according to the DPWH. The project appears to bear components of the Laguna Lakeshore Expressway Dike public-private partnership (PPP) project, a P123-billion undertaking that was shelved last year after private sector bidders backed out.

Be it via PPP or BBB, PHL needs to bridge infrastructure gap fast–experts BusinessMirror 27th Nov 2017
GIVEN the “chronic infrastructure gap” in the Philippines, the government must look into different modes of funding and project-implementation schemes to improve the speed of the delivery of much-needed infrastructure to Filipinos. This was the consensus among panelists at the infrastructure-funding forum of Euromoney Conferences in Bonifacio Global City on Monday. Asian Development Bank Principal Investment Offer Alix Burrell said her group believes that there is room for all modes of infrastructure-funding schemes in the Philippines—including the Public-Private Partnership (PPP) Program.

DOTr to renew feasibility studies for regional airports philstar.com 27th Nov 2017
Renewed feasibility studies for the country’s four regional airports will be conducted before the operations and maintenance (O&M) of the airports can be bidded out, an official of the Department of Transportation (DOTr) said. “A proponent cannot do a feasibility study. It has to be us. A feasibility study is only valid for five years,” DOTr Undersecretary for Aviation Manuel Antonio Tamayo told reporters, noting that the previous feasibility studies for the regional airports have already lapsed the five-year period. The new feasibility studies will cover the four regional airports particularly the  Davao, Iloilo, Laguindingan and Bacolod airports. Tamayo said the New Bohol (Panglao) airport would not be part of the feasibility studies, as it is already set to begin operations next year.

NIA, DPWH need more time to complete 2 infra projects BusinessMirror 2nd Nov 2017
The National Irrigation Administration (NIA) and the Department of Public Works and Highways (DPWH) are asking the interagency Investment Coordination Committee (ICC) for more time to complete two infrastructure projects. These projects are the P11.21-billion Jalaur River Multipurpose Project Stage II (JRMP II) and the P2.45-billion Samar Pacific Coastal Road Project, both funded by South Korea.

Govt to consider Clark airport plan Manila times 21st Nov 2017
An unsolicited private sector proposal to develop Clark International Airport into an international gateway will be considered by the government, the Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA) said on Monday. “DOTr and BCDA will thoroughly review the legal, technical, and financial aspects of the proposal within a specified timeline and strict deadline based on the required processes and regulations,” they said in a joint statement. At the same time, the DOTr and the BCDA said they were “on track with the bidding for the construction of a new passenger terminal building in the Clark International Airport wherein 12 local and foreign firms bought bid documents.”

‘Government must be careful in choosing next MRT 3 maintenance provider’ | BusinessMirror BusinessMirror 6th Nov 2017
TERMINATING the maintenance contract of Busan Universal Rail Inc. might be a sound decision on the part of the government, but it must thoroughly study its game plan for the Metro Rail Transit (MRT) Line 3 so as not to make the same mistake twice. Rene S. Santiago, a rail expert, said the government’s move to end the maintenance deal with Busan Rail is “inevitable,” given its performance over the past year and a half. “It is about time,” he told the BusinessMirror. “Poor outcomes merit termination.”

SMC proposes to extend NAIA Expressway to BGC Phil Daily Inquirer 1st Nov 2017
Conglomerate San Miguel Corp. (SMC) wants to expand its NAIA Expressway (NAIAx) project to Bonifacio Global City in Taguig to provide better access of Manila’s airport complex to more areas in the capital district. SMC announced the plan—which requires the government’s approval—in a statement on Wednesday. It also announced that various technical studies to expand its massive southern Manila toll road network spanning South Luzon Expressway (SLEx), the Skyway system, and the Southern Tagalog Arterial Road (Star) have been completed. North of Manila, it operates the Tarlac Pangasinan La Union Expressway. In its statement, SMC revealed that complete detailed engineering plans for the expansion of the 7.7-kilometer NAIAx project going to BGC have been submitted to the government.

Singapore

Singapore opens new, high-tech airport terminal PHYS.org 2nd Nov 2017
Terminal 4, built at a cost of Sg$985 million (US$723 million), will have an annual capacity of 16 million people and is aimed at coping with an expected increase in passenger numbers through one of Asia's top travel hubs.

Thailand

Job training for unskilled planned Bangkok Post 17th Nov 2017
The Finance Ministry wants to provide job training for 1 million unskilled workers to supply the industrial sector, which should boost the income of those at the bottom rung of the economic ladder. Enhancing employment opportunities is a cornerstone of the second phase of the government's welfare and subsidy scheme for the poor to help them cross the poverty line sustainably. Finance Minister Apisak Tantivorawong said he has discussed employment possibilities for unskilled workers with the Federation of Thai Industries, with the federation saying local industries are capable of hiring 1 million workers to replace the 3 million migrant workers in Thailand.

Somkid says 2018 marks turning point Bangkok Post 16th Nov 2017
Next year will be Thailand's turning point, says Deputy Prime Minister Somkid Jatusripitak, as much-touted infrastructure projects, international broadband development and investment in the Eastern Economic Corridor (EEC) are scheduled to get started. Global investment is expected to shift towards Asean, where Thailand will reap the benefit of its central location, Mr Somkid said yesterday at an economic seminar hosted by Prachachat Turakij newspaper.

Land windfall tax gets review after hearings Bangkok Post 15th Nov 2017
The Fiscal Policy Office (FPO) will consider whether non-performing assets (NPAs) sold by financial institutions at a loss should be subject to a planned land windfall tax in cases where asset prices are inflated by infrastructure development. The review comes after opinions were expressed at public hearings that residences and financial institutions' NPAs sold at a loss should not be liable for the land windfall tax, according to an FPO document. Although prices of financial institutions' NPAs would be boosted by transport infrastructure projects, they would still be sold at a loss, the document said, noting that the FPO will mull whether the asset sales will be subject to the land windfall tax.

Transport fund IPO postponed to 2018 Bangkok Post 4th Nov 2017
The initial public offering (IPO) of the Thailand Future Fund (TFF), an infrastructure fund to finance transport projects, will be delayed to next year. The TFF's IPO filing with the Securities and Exchange Commission (SEC) scheduled for this year will remain on track but the unit offering will be launched at the start of next year, Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office (Sepo), said yesterday at a seminar on the 2018 economic outlook held by Bank of Ayudhya (BAY).

Tourism officials confer with airlines Bangkok Post 4th Nov 2017
The Tourism Authority of Thailand (TAT) has spoken to airlines about boosting tourism on primary and secondary routes, aiming at source markets such as Europe, the Americas, the Middle East and Asia-Pacific, as well as neighbouring countries. "This is in line with our plan to increase foreign tourism revenue for 2018 by at least 10%," said TAT governor Yuthasak Supasorn. "The increased air access also corresponds with the Amazing Thailand Tourism Year 2018, starting from Nov 1 this year." Thai Airways International (THAI) will be resuming Bangkok-Vienna service from Nov 16 after partnering with THAI Smile on flights between Bangkok and Kaohsiung, Taiwan's second city, since October.

Electric trains may seek PPP Bangkok Post 4th Nov 2017
The Purple Line's southern section and the Orange Line are expected to seek Public-Private Partnership (PPP) committee approval next year, says the head of the State Enterprise Policy Office (Sepo). The panel, chaired by Deputy Prime Minister Somkid Jatusripitak, yesterday acknowledged the progress of eight fast-track projects under the PPP scheme, including the Purple and Orange line electric trains, said Ekniti Nitithanprapas, the director-general of Sepo. He expects the private sector will be invited next year to bid on the Purple Line, linking Kanchanaphisek Outer Ring Road and Tao Poon, and the Orange Line, linking Bang Khun Non and Min Buri.

Government wants to attract luxury liners Bangkok Post 3rd Nov 2017
The government is being urged to speed up the development of infrastructure for luxury cruises in order to attract high-end tourists to Thailand. Deputy Prime Minister Tanasak Patimapragorn said the latest tourism research jointly conducted by the Tourism and Sports Ministry, Tourism Council of Thailand and Thailand Research Fund (TRF) suggests Thailand should develop facilities to accommodate luxury cruises because they bring in visitors who spend more. The spending of cruise visitors averages 6,174 baht a day, higher than the average of 4,000 baht a day spent by all foreign visitors. Cruise tourism in Asia has rapidly grown, especially in Asean.

Vietnam

Cars banned on Kim Mã to build metro station Vietnamnews 17th Nov 2017
Cars will be banned from a 500m-long section of Hà Nội’s Kim Mã Street as construction on an underground metro station begins in December. The Hà Nội Urban Railway Management Board (HURMB) said on Friday that it would set up construction barriers along Kim Mã Street from the Nguyễn Chí Thanh flyover to Alley 415, near Pizza Hut, early next month. The whole one-way lane in the direction of Nguyễn Thái Học Street towards Kim Mã will be blocked for traffic, forcing vehicles of both ways onto the opposite lane.

AIIB wants to help Da Nang develop infrastructure VOV 8th Nov 2017
The Asian Infrastructure Investment Bank (AIIB) wants to boost cooperation in infrastructure investment with Da Nang so as to help promote the development of the central city of Vietnam, AIIB President Jin Liqun told local officials on November 8. Talking to Secretary of the municipal Party Committee Truong Quang Nghia, the AIIB leader, who was in Da Nang to attend the APEC Economic Leaders’ Week, said rapid urbanisation and strong development in many aspects have required infrastructure to be expanded in Da Nang. Compared to many other localities, Da Nang’s infrastructure has been built in a relatively methodological and synchronous manner. However, problems will soon arise and local advantages and beauty will be affected if infrastructure is not further upgraded, he said.

​ADB to lend Vietnam $170mn for urban infrastructure upgrade Tuoi Tre News 3rd Nov 2017
The Asian Development Bank’s (ADB) Board of Directors has approved US$170 million in loans to aid the Vietnamese government in upgrading urban infrastructure and addressing climate change as part of its Secondary Green Cities Development Project. Projects funded by these loans will benefit about 116,000 households in the cities of Hue, Vinh Yen, and Ha Giang, ADB said in a press release on Thursday. These are the respective provincial capitals of Thua Thien-Hue in central Vietnam, and Vinh Phuc and Ha Giang in the northern part of the country.