It is a key project and has been prioritized to use loans from foreign donors, the ministry said, adding that investment policy for the project was approved by Prime Minister in August.

Work on a project on developing inland waterway and logistics corridors in Southern Vietnam is scheduled to begin next year.

The total investment capital for the project is estimated at VND 3.9 trillion (USD 159.7 million), which is sourced from World Bank’s loans, Australian Government non-refundable aid, and reciprocal funding from Vietnam.

The project will renovate and upgrade the 197km East - West Corridor connecting a number of local major rivers – Hau, Tra On, Mang Thit, Co Chien, Cho Lach, Tien, Vam Co, Can Giuoc and Soai Rap – and canals – Ky Hon, Cho Gao, La and Nuoc Man.

The corridor will allow self-propelled vessels of up to 600 tons and three-tier container ships to pass at any time of the day, while vessels of up to 1,500 tons can go through during hide tides.

The project will also repair and upgrade the 82km North - South Corridor through rivers – Dong Nai, Nha Be, Long Tau, Dong Tranh, Tac Cua, Go Gia and Thi Vai, which is expected to enable the free and safe movement of self-propelled vessels of up to 5,000 tons and four-tier container ships.

According to the ministry, once the project complete, it will contribute to reducing transportation costs and time while ensuring safety for vessels and enhancing competitiveness for waterway transport.

Source: VNA