Vietnam Danang Seeks ADB Loans for Second Economic Corridor Project

Vietnam’s central city of Danang is seeking capital from the Asian Development Bank (ADB) to develop the East-West Economic Corridor 2 project (EWEC 2) to boost economic growth, Chairman Van Huu Chien said.Danang wants to have the funds to develop the EWEC 2 scheme running through Danang Port, 14B and 14D national highways, Dac Oc border gate in Quang Nam, Boloven Highlands in Laos and Chong Mek-Nakhon-Bangkok in Thailand, he noted. The city earlier sought the government’s approval for attracting ADB funds for the project. The city clarifies that the new corridor has an advantageous location which is very important to the central region, especially Danang city.The routes, which are part of the EWEC 2 scheme, are near to completion. However, a section stretching about 123 km running from Dac Oc border gate to Sekong has yet to be covered with asphalt. Besides, a 76.6-kilometer-section of National Highway 14D connecting Ben Giang to Dac Oc border gate in Quang Nam is also in need of upgrade.“Realizing the importance of the economic corridor, we asked the government for permission to mobilize construction capital from ADB and the government agreed,” Mr. Chien said.In seminars on the Mekong Sub-region held by ADB, Danang repeatedly mentioned the route’s construction and the lender also expressed its interest in the scheme. According to the city’s Department of Transport, the EWEC 2 project will be carried out from next year to 2016 in Quang Nam province and Sekong of Laos with total estimated investment of $320 million. (thesaigontimes.vn Nov 8)