The Nam Van Phong Oil Refinery Plant Project in southern Khanh Hoa Province's Nam Van Phong Economic Zone will require US$8 billion - the largest investment among the 127 projects. — File Photo

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung has approved a list of 127 projects that will await foreign investment until 2020.

Of the projects, 51 will see infrastructure development for transport, energy, water supply, urban waste treatment and industrial zones.

Twenty projects will comprise construction of universities, hospitals, pharmaceutical factories and tourism sites.

Meanwhile, the forty-four agricultural projects will see the establishment of high-tech agriculture zones in the northern provinces of Son La and Thai Nguyen, central Binh Thuan Province and the southern provinces of Can Tho, Tien Giang and Soc Trang.

A further eight projects will contribute to the nation's collection of food processing plants, while the remaining four projects will see additions to the production and service sector with a new oil refinery plant and a plant producing aviation equipment.

The Nam Van Phong Oil Refinery Plant Project in southern Khanh Hoa Province's Nam Van Phong Economic Zone will require US$8 billion - the largest investment among the 127 projects. The first phase of the Long Thanh International Airport in southern Dong Nai Province, requiring $5.62 billion, is the second largest project in the pool.

Meanwhile, the construction of the 120.57km-long Bien Hoa-Vung Tau Railway is estimated to cost $5 billion, while around half of the projects relating to the nation's transport sector require cash injections of $1-2 billion.

Part of the North-South Expressway running through Ninh Binh to Thanh Hoa and Thanh Hoa to Nghi Son require $1.867 billion in investment, while the 78-km-long Bien Hoa – Vung Tau Expressway in thesouthern provinces of Dong Nai and Ba Ria Vung Tau has been estimated to cost $1.175 billion.

The 148-km-long Noi Bai – Ha Long road running through Ha Noi, Bac Ninh, Bac Giang, Hai Duong and Quang Ninh is also among the list of projects seeking investment, calling for $1.762 billion. This is in addition to the project to upgrade the Ha Noi – HCM City Railway for $2.3 billion.

According to the approved list, the projects are eligible for investment from wholly foreign investors, joint ventures, public-private partnerships, official development assistance programs or foreign direct investment. Investors seeking ‘build-operate-transfer' arrangements can also contribute investment.

In a further move to back the projects, the Prime Minister has asked the Ministry of Investment and Planning to co-ordinate with ministries, agencies and localities to raise awareness of the projects and recommend changes if necessary. — VNS