The Ministry of Strategy & Finance announced on June 8 that the ribbon-cutting ceremony for the Vinh Thinh Bridge was held on that day, attended by Vietnamese Prime Minister Nguyen Tan Dung, Vice Minister of Strategy & Finance Choo Kyung-ho, and others.
The Korean government has built key social infrastructure such as hospitals, airports, and roads in Vietnam with the Economic Development Cooperation Fund (EDCF) at an investment of US$30 million to US$50 million in each of the projects. The Vinh Thinh Bridge is one of the largest in size, costing approximately US$100 million.
The bridge construction project was underway on a qualification examination basis so as to forestall the possibility of shoddy construction following lowest-price bidding. The traffic authorities of Vietnam have declared that it will adopt the same method in most future undertakings if the project turns out to be successful.
“The completion of the bridge today will accelerate the development of the regional economy of the northern Red River Delta, which is one of the three industrial centers of Vietnam with Ho Chi Minh and the Mekong Delta,” said Vice Minister Choo in his congratulatory address, adding, “At the same time, this project will serve as another momentum for closer bilateral cooperation between Vietnam and Korea.”
In the meantime, the Korean government is striving to help Korean companies win upcoming large-scale national projects in Vietnam by providing various types of assistance such as development finance, project loans and payment guarantees.