Vietnamese Minister of Transport Nguyen Van The and Australian Ambassador to Vietnam Craig Chittick signed a subsidiary agreement for the launch of the programme in Hanoi on February 9.
The Aus4Transport will provide the required funds and other resources for new transport projects in Vietnam from the drafting plans to the beginning of building projects.
The programme will also help to strengthen cooperation between Australian transport agencies and the Vietnamese Ministry of Transport in the area of Australia's strength including the building of transport plans and financial plans for traffic infrastructure and safety.
"Investment in transport is especially important to sustainable economic development in Vietnam. The Aus4Transport will help Vietnam secure a flexible source of finance and necessary resources to ensure the best quality of its transport projects," said Vietnamese Transport Minister Nguyen Van The.
The Australian Government has supported Vietnam's transport sector for a long time, since the construction of the My Thuan Bridge, the first cable bridge in Vietnam which opened for traffic in 2001. In addition, the Cao Lanh Bridge in Dong Thap province is scheduled for completion this year.
