The signing ceremony aims to complete a design to accelerate the construction of Cau Gie-Ninh Binh and Ninh Binh-Thanh Hoa-Vinh-Bai Vot expressways (the second phase). Costs for preparation and construction will be covered by VEC and GP Bank. These expressways are expected to be completed in 2015.

Tran Xuan Sanh, VEC general director said that VEC is a state-owned enterprise with charter capital of VND1,000 billion. The Government and the Ministry of Transport authorized the company to develop the national expressway system according to self-financing method. In recent years, VEC has built 369km highways capitalized at VND38,000 billion, including Cau Gie-Binh Binh (first phase) with capital of VND8,000 billion, Noi Bai-Lao Cai highway capitalized at VND20,000 billion and Ho Chi Minh City-Dau Giay with capital of VND10,000 billion.

Currently, VEC is preparing to invest in other expressway projects such as Trung Luong-My Thuan-Can Tho and Noi Bai-Mai Dich.