World Bank Group supports Vietnam s trade connectivity and coastal livelihoods

The World Bank Group is lending $666.74 million to Vietnam to enhance trade connectivity and coastal livelihoods. This funding will support three key infrastructure projects across the North, Central, and Mekong Delta regions. In Haiphong, the Haiphong City Resilience Development project will build a new section of Ring Road 3 to reduce truck travel time and improve urban services.

Approximately 10,700 casual workers and 2,300 professionals are expected to be employed during construction. Meanwhile, the Mekong Resilient Regional Connectivity project will rehabilitate 251 km of highways to international road safety standards, benefiting 856,800 direct users and helping farmers move goods to market during heavy rainfall.

Around 10,900 jobs are projected annually from this project. The Sustainable Fisheries Development project will modernize nine fishing ports and establish infrastructure to promote sustainable, climate-resilient fishing and aquaculture practices. This will benefit over 525,000 fishers, aquaculture farmers, and coastal residents with higher incomes, better seafood quality, and reduced post-harvest losses.

Women are expected to account for at least half of the direct beneficiaries. The World Bank Group's approval of these projects comes as Vietnam is upgraded to an upper-middle income economy by the World Bank, reflecting years of export-led growth and sustained economic expansion. The World Bank Group aims to create more and better jobs through infrastructure development, private sector growth, and investment mobilization.