Policies to encourage investment in the development of inland waterway transport in Vietnam

Tran Thanh Rin

09:33, 11/11/2022

The Prime Minister of Vietnam issued Decision 21/2022/QĐ-TTg dated November 9, 2022, on mechanisms and policies to encourage the development of inland waterway transport.

According to Decision 21/2022/QD-TTg, regulations on mechanisms and policies to encourage investment in the development of inland waterway transport in Vietnam are as follows:

- Obtain government ODA and foreign concessional loans to invest in the development of inland waterway infrastructure in order to connect with other modes of transportation, particularly the seaport system in Vietnam;

(Compared with Decision 47/2015/QD-TTg, Decision 21/2022/QD-TTg focuses on investment and development of the seaport system.)

- Prioritize allocating investment capital to develop inland waterway infrastructure in the period 2021-2030, with a vision to 2050 (new point).

- People's Committees at the provincial level are in charge of reviewing and planning river-crossing passenger terminals in areas with difficult socioeconomic conditions, with no conditions for development or investment in other modes of transportation with local planning in Vietnam.

In case the local budget is used to invest in the new passenger terminals above, it must comply with the provisions of Clause 2 and Article 12 of the Law on Public Investment 2019.

Vietnam's Decision 21/2022/QD-TTg takes effect on December 25, 2022, and fully annuls Vietnam's Decision 47/2015/QD-TTg.

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