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China’s transport infrastructure initiative to have bad impact on Vietnam’s plan: expert

China’s transport infrastructure initiative, including the establishment of the Asian Infrastructure Investment Bank (AIIB) and other related proposals, will pose a threat to Vietnam’s infrastructure development plan in the near future, an expert from the Vietnam Institute for Economic Research and Policy (VEPR) said at a seminar on the Chinese economy in Ho Chi Minh City last week.

Vinaship_Saigon_Port_Viet_Nam
Vinaship Saigon Port is one of many in Viet Nam that may loose business as China invests in new ports elsewhere in the Mekong region

By THOAI TRAN/TUOI TRE NEWS

Vietnam, October 3, 2015

THOAI TRAN/TUOI TRE NEWS

China’s transport infrastructure initiative, including the establishment of the Asian Infrastructure Investment Bank (AIIB) and other related proposals, will pose a threat to Vietnam’s infrastructure development plan in the near future, an expert from the Vietnam Institute for Economic Research and Policy (VEPR) said at a seminar on the Chinese economy in Ho Chi Minh City last week.

Those Chinese plans, from “One Belt, One Road” to the 21st Century Maritime Silk Road Economic Belt, is what should be called “infrastructure traps,” which may be triggered when China and regional countries begin to set up road and railroad infrastructures, Pham Sy Thanh, director of the Chinese Economic Studies Program under the VEPR, said on Friday.

Once those plans are executed, they will hinder Vietnam’s infrastructure development, Thanh added.
This is part of the economic diplomacy of China, with over 70 initiatives last year, Thanh said, citing figures from the Vietnamese Ministry of Foreign Affairs.

 

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