This Hanoi urban transport corridor project is recognized for its strategic importance in shaping the capital’s long-term urban expansion and enhancing regional connectivity. The expansive route will traverse approximately 36.3 kilometers, passing through 18 wards and communes within Hanoi.

This ambitious infrastructure undertaking is being executed under a public-private partnership (PPP) framework, specifically employing a build-transfer (BT) contract structure. The corridor’s path begins near the Kim Lien tunnel in Kim Lien and Bach Mai wards, extending southwards to the Cau Gie interchange located in Chuyen My commune.

Project specifications detail a corridor width of up to 90 meters. This will include ten primary traffic lanes and six parallel service lanes positioned on either side. Authorities project that the primary construction phase for this vital infrastructure will be finalized by 2027. Officials anticipate that the new Hanoi urban transport corridor will play a crucial role in completing Hanoi’s comprehensive road network, aligning with the capital’s long-term urban master planning that extends for the next century.

Beyond the immediate improvements in traffic flow, the project is expected to significantly alleviate traffic congestion on existing ring roads and inner-city routes. It will also bolster connections between the central districts of Hanoi, southern urban areas, and neighboring provinces. The redevelopment effort is also geared towards facilitating urban renewal along the existing National Highway 1A corridor and stimulating economic activity in the surrounding districts.

Hanoi People’s Committee Chairman Vu Dai Thang underscored the urban transport corridor project’s significance, describing it as a foundational element for the capital’s forthcoming urban expansion. “A modern transport corridor not only serves mobility demand but also creates new development space, stimulates commerce, services and logistics, and enhances urban competitiveness,” he said.

He further noted that Hanoi is entering a new developmental phase necessitating urban restructuring towards a model that is more modern, green, smart, and highly interconnected. The southern region of Hanoi has been identified as a strategic gateway, vital for linking the capital with key economic hubs across the nation. For years, however, the section of National Highway 1A passing through Hanoi has been plagued by persistent traffic congestion, which has impeded traffic capacity, logistics operations, and the efficiency of urban planning.

Representing Vingroup, Nguyen Viet Quang expressed the company’s aspiration for the project to contribute to the comprehensive transformation of a modern and integrated urban corridor, thereby redefining the southern entrance to Hanoi.

Thailand’s administration confirmed it is reviving the Land Bridge project across its southern peninsula, an initiative that had previously lost momentum amid political turbulence. While earlier efforts included drafting legislation, progress stalled due to incomplete public hearings, pending environmental and health impact assessments, and resistance from local communities. According to Transport Minister Phiphat Ratchakitprakarn, a formal proposal is expected to reach the cabinet in June or July. The government is preparing to open discussions with investors for the estimated 1 trillion baht ($30.97 billion) project, with outreach potentially beginning in the third quarter.

The Land Bridge, a concept that has been discussed for decades, centers on the creation of two deep-sea ports, one in Ranong on the Andaman Sea and another in Chumphon on the Gulf of Thailand. These ports would be connected by 90 km of road and rail infrastructure, alongside energy systems such as pipelines. The integrated network is designed to enable cargo transfer across the peninsula, offering a land-based alternative to traditional maritime routes. By bypassing congested sea lanes, the Land Bridge aims to enhance logistical efficiency while addressing bottlenecks in regional trade.

Thai Prime Minister Anutin Charnvirakul discussed the Land Bridge during a meeting with Chan Chun Sing, underscoring its strategic importance. The Malacca Strait, a 900-km (550-mile) passage bordered by Indonesia, Thailand, Malaysia, and Singapore, remains one of the busiest shipping routes globally, with more than 100,000 mostly commercial vessels passing through it last year. Recent comments by Indonesia’s finance minister about the possibility of imposing tolls on ships in the strait generated attention before being clarified. In comparison, the Land Bridge is widely seen as a more viable alternative to the long-discussed Kra Canal, which has faced persistent environmental, financial, and security concerns.

Libya’s delegation was headed by Issam Abdallah Al-Qouri, Chair of the Preparatory Committee at the Ports and Maritime Transport Authority. Participants also included officials from the Land Transport Authority, the Roads and Bridges Implementation Authority, and the Ministry of Transportation headquarters. The transport sector study is being funded through a $340,000 grant provided by the African Development Bank Group’s Middle-Income Country Technical Assistance Fund (MIC-TAF), with additional counterpart financing from the Libyan Government. This funding structure is intended to support the development of a comprehensive strategic plan aimed at enhancing efficiency and performance across Libya’s transport system as part of wider reform initiatives.

As outlined during the workshop, the transport sector study will deliver a detailed situational and gap analysis of the sector, accompanied by a strategic framework identifying priority actions in the short to medium term. The scope also includes recommendations for policy and institutional reforms, as well as an action plan to expand private sector participation. In addition, the study is expected to present indicative financing options for future infrastructure investments and identify bankable projects across both public and private domains, strengthening the pipeline for future engagement by the African Development Bank in transport and logistics infrastructure.

“An efficient and integrated transport system connects people to opportunities, facilitates trade, and enhances quality of life,” said Malinne Blomberg, the Bank Group’s Deputy Director General for North Africa and Country Manager for Libya.

The initiative is aligned with the Bank’s Ten-Year Strategy and is intended to serve as a guiding framework for national transport policies and investment planning. It aims to improve resilience, boost connectivity, and address the isolation of underserved regions. Key outputs from the transport sector study will be issued in Arabic, English, and French to ensure accessibility and alignment among Libyan institutions and development partners.

Under this railway contract, the project’s engineering framework centers on expanding track capacity and enhancing operational speeds. A second track will be constructed alongside the existing line, enabling simultaneous two-way traffic flow. In parallel, new bridges and viaducts will be introduced, built to meet contemporary load-bearing specifications and designed to withstand high-speed operational vibrations. Once completed, the upgraded line will support train speeds of up to 160 km/h, significantly cutting travel times for regional and cross-border logistics movements.

The modernization effort also integrates advanced systems aimed at improving safety and operational control. Electronic interlocking and rail traffic management technologies will be deployed to optimize train headways and reduce collision risks. Additionally, the installation of overhead catenary systems will enable high-performance electric traction, contributing to lower emissions compared to diesel-based alternatives. Station and halt upgrades are also included, enhancing passenger accessibility while reinforcing operational safety standards across the network. These features collectively reinforce the technical depth of the railway contract.

This railway contract stands among COMSA Corporación’s most significant international undertakings and further cements its footprint in Croatia’s infrastructure sector. Since establishing operations in the country in 2015, the company has delivered multiple major railway developments, including the Gradec–Zabno line and the modernization of the Vinkovci–Vukovar section. The agreement was formalized by HŽ Infrastruktura Chairman Damir Loncaric and COMSA Director Pedro Miguel Rivero Moya, in the presence of Deputy Prime Minister Oleg Butković.

Market Overview and Forecast Valuation

Transport Advancement believes the industry is poised for substantial and sustained growth over the next decade, fueled by technological advancements, urbanization, and critical government investments. In 2024, the market was estimated at a valuation of 690.38 USD Billion. Moving into the forecast period, the market size is projected to grow from around 732.99 USD Billion in 2025 to surge to an impressive 1334.13 USD Billion by the year 2035. This trajectory represents a robust compound annual growth rate (CAGR) of 6.17% from 2025 to 2035.

Primary Market Drivers

The anticipated expansion of the market is underpinned by several critical macroeconomic and socio-economic drivers.

• Increased Urbanization: The rapid pace of global urbanization is an undeniable primary driver. As populations migrate to urban centers, the demand for highly efficient transportation networks escalates dramatically. Projections indicate that urban areas will house approximately 68% of the world’s population by the year 2050. This profound demographic shift necessitates urgent expansion and modernization of roads, public transit systems, and bridges to alleviate congestion and accommodate daily commuters.
• Technological Advancements: Innovations are fundamentally reshaping how infrastructure is designed, built, and maintained. The integration of the Internet of Things (IoT) allows for real-time data collection, which drastically improves traffic flow and overall safety. These technological leaps are expected to spur massive capital injection, with estimates suggesting that the smart transportation sector alone could reach a valuation of 200 USD Billion by 2025.
• Government Investments and Policies: Public sector financial commitment is vital for the modernization of aging infrastructure. Current reports project that global infrastructure spending will exceed 1 Trillion USD annually by 2025. These budgets are frequently paired with new government policies designed to promote sustainable practices, minimize emissions, and vastly improve public transportation options.
• Rising Demand for Freight and Logistics: The explosion of global trade and e-commerce has severely intensified the need for robust freight and logistics networks. The wider logistics market is forecast to reach 12 Trillion USD by 2027, making modernized railways, roadways, and ports absolutely essential to enhance supply chain efficiency and reduce delivery timelines.
• Environmental Regulations: Growing concerns regarding climate change have led to the implementation of strict regulations designed to curb carbon emissions. Consequently, investments are heavily shifting toward greener technologies, such as energy-efficient transit networks and electric vehicle charging infrastructure. The sustainable transportation solutions segment is anticipated to expand at a CAGR of over 10% in the coming years.

Emerging Market Trends

As the market grows, a clear shift in operational philosophy is becoming apparent. Stakeholders are heavily prioritizing sustainability initiatives, recognizing the urgent need for eco-friendly solutions. Infrastructure projects are increasingly designed to reduce carbon footprints by utilizing renewable materials and encouraging public transit usage.

Simultaneously, the development of smart infrastructure is becoming standard practice rather than an exception. The integration of artificial intelligence (AI), big data analytics, and IoT into these systems ensures adaptive and highly responsive transportation networks. To fund these complex, large-scale modernizations, Public-Private Partnerships (PPPs) are becoming the preferred collaborative approach. By combining public oversight with private sector efficiency and capital, PPPs reduce overall costs, improve service delivery, and foster innovative infrastructure solutions.

Market Segmentation and Shift Analysis

To fully understand the changes within the transportation infrastructure market, it is crucial to analyze the specific segment shifts and material preferences shaping project execution.

• Project Type: Roads and Highways vs. Airports and Aviation The Roads and Highways segment historically dominates the market, maintaining the largest overall share due to its foundational role in rural and urban mobility. Driven by continuous upgrades and vast vehicular volumes, this segment is projected to expand significantly by 2035. Conversely, the Airports and Aviation segment is identified as the fastest-growing sector. Benefiting heavily from globalization and a massive worldwide surge in air travel demand, airport infrastructure is undergoing rapid innovation, incorporating smart technologies and green initiatives to handle growing passenger volumes.
• Construction Material: Concrete vs. Asphalt Concrete remains the dominant construction material in the industry, favored for its structural integrity, immense durability, and ability to withstand harsh weather conditions. Reflecting its critical importance, concrete is expected to climb higher by 2035. However, Asphalt is rapidly emerging as the fastest-growing alternative. Modern asphalt formulations are increasingly environmentally friendly, cost-effective, and allow for much faster installation processes, making them highly attractive for urgent road and highway expansions.
• Funding Mechanism: Public vs. Public-Private Partnerships (PPPs) Public funding remains the dominant financial mechanism, ensuring consistent capital for essential large-scale public welfare projects. However, facing budget constraints and the need for advanced technological integration, the market is witnessing a rapid shift toward Public-Private Partnerships (PPPs). As the fastest-growing funding avenue, PPPs allow for essential risk-sharing, enhanced operational efficiency, and a necessary degree of privatization to drive innovation.
• Smart Features: Traffic Management vs. Intelligent Transportation Systems Within the technological segment, Traffic Management Systems hold the dominant market share, providing indispensable features such as accident monitoring, congestion management, and real-time traffic updates. Meanwhile, Intelligent Transportation Systems (ITS) represent the fastest-growing feature set. Driven by advanced data analytics and IoT interoperability, ITS connects various transportation modes to create a seamless user experience.
• Sustainability Considerations: Energy Efficiency vs. Recycled Materials Energy Efficiency is currently the largest focus within sustainability considerations, driven by the immediate need to lower operational costs and fulfill green building certifications throughout project lifecycles. In parallel, the utilization of Recycled Materials is the fastest-growing trend in this segment. Driven by circular economy principles and strict environmental regulations, utilizing repurposed materials allows developers to significantly minimize waste and achieve broader sustainable development goals.

Regional Market Insights

The geographical landscape of the transportation infrastructure market reveals diverse investment priorities and growth drivers across different global regions.

• North America: Representing a mature yet highly dynamic region, North America is a leader in infrastructure investment. The United States commands approximately 70% of the regional market share, followed by Canada at 15%. Growth in this region is primarily driven by the urgent need to modernize aging infrastructure, heavily supported by massive federal funding initiatives and the widespread adoption of public-private partnerships to enhance overall network resilience.
• Europe: Europe stands out for its aggressive focus on sustainable development and digitalization. Germany and France are the largest regional contributors, holding roughly 30% and 20% of the market share, respectively. Propelled by stringent regulatory frameworks like the European Green Deal, the European market is channeling significant investments into extensive, eco-friendly rail and road networks.
• Asia-Pacific: Characterized by explosive urbanization and population booms, the Asia-Pacific region exhibits incredibly rapid market growth. China completely dominates the regional landscape, accounting for an estimated 50% of the market share, while India follows with 15%. The primary focus in this region is the aggressive expansion of internal connectivity through immense public funding directed at new road and rail networks, combined with a strong emphasis on integrating smart infrastructure solutions.
• Middle East and Africa: Driven by broad economic diversification efforts and rapid urbanization, this region is witnessing a major surge in infrastructure development. The United Arab Emirates and South Africa represent the largest markets, holding approximately 25% and 20% of the regional share, respectively. Government-led initiatives and PPPs are unlocking significant funding to facilitate large-scale transit projects aimed at improving regional integration and supporting long-term economic growth.

Future Outlook and Opportunities

Looking toward the horizon of 2035, the market is expected to demonstrate robust strength, characterized by deep innovation and structural modernization. The consistent 6.17% CAGR from 2025 to 2035 highlights the essential nature of the sector. Future market opportunities will heavily rely on the successful development of smart transit systems powered by AI and IoT, the rapid deployment of electric vehicle charging networks across expanding urban centers, and sustained investments in zero-emission public transit solutions. As global demographics and environmental priorities continue to shift, Transport Advancement emphasizes that adapting to these critical trends will remain paramount for the continued evolution of worldwide mobility.

Upon completion, the terminal’s handling capacity will expand from 1.7 million to approximately 3 million TEUs, with full delivery expected in 2027. The Gemalink terminal Phase 2 project includes a 450-meter extension of the quay, executed in two segments, alongside an increase in container yard space from 32 to 44 hectares. In addition, five Ship-to-Shore cranes (STS) will be added, raising the total from 8 to 13 units, supported by further yard equipment upgrades. These developments are designed to accommodate rising import-export volumes in a region that plays a central role in Asian supply chains, with Gemalink terminal Phase 2 positioned to handle continued growth in maritime trade flows.

Since commencing operations in 2021, Gemalink has emerged as one of the most efficient terminals in the Vung Tau region and across Vietnam. Benefiting from its strategic placement along key global shipping routes and the operational expertise of its workforce, the terminal is currently running at full capacity, processing 1.7 million TEUs annually. This rapid scale-up highlights its importance within CMA CGM’s global logistics network and its ability to manage increasing cargo volumes. Strong customer confidence and the consistent deployment of CMA CGM services have further contributed to its performance.

Christine Cabau Woehrel, Executive Vice President of the CMA CGM Group, in charge of Operations and Assets, said, “Today’s groundbreaking ceremony for Gemalink Phase 2 underscores the CMA CGM Group’s long-term commitment to Vietnam. It also clearly demonstrates the strong partnership we have with Gemadept – one that is built on trust and shared ambition. This expansion will increase Gemalink’s capacity up to 3 million TEUs by the fourth quarter of 2027, consolidating Vietnam’s role in global supply chains and its vision to become a leading maritime logistics hub in Southeast Asia by 2050.”

The Gemalink terminal Phase 2 expansion aligns with CMA CGM’s broader strategy to reinforce its footprint in Vietnam, where it has maintained a presence since 1989. The Group currently operates five offices across Ho Chi Minh City, Hanoi, Haiphong, Danang and Quy Nhon, supported by a workforce of more than 550 employees. It also runs 29 weekly services connecting seven ports nationwide, linking Vietnam to major global destinations through an advanced intermodal network powered by CEVA Logistics.

The agreement outlines the construction and operation of a 360-kilometre railway that will connect the mining hubs of Al-Shidiya and Ghor Al-Safi with the Port of Aqaba. Designed to handle 16 million tonnes annually of phosphate and potash, the project carries a total investment value of US$2.3 billion. It was signed on behalf of the UAE by Suhail bin Mohamed Al Mazrouei, Minister of Energy and Infrastructure, and on behalf of Jordan by Dr. Nidal Al-Qatamin, Minister of Transport of the Hashemite Kingdom of Jordan. As part of the initiative, the UAE-Jordan Railway Company has been formally established as a joint venture between Abu Dhabi’s L’IMAD Holding Company (L’IMAD) and multiple Jordanian stakeholders, further strengthening railway network development efforts across the region.

The founding agreement for the company was signed by Jassem Mohamed Bu Ataba Al Zaabi, Chairman of the Abu Dhabi Department of Finance and Managing Director and Group CEO of L’IMAD Holding, alongside key Jordanian representatives including Dr. Mohammad Thneibat, Chairman at Jordan Phosphate Mines Company, Eng. Shehada Abu Hdeib, Chairman of Arab Potash Company, Dr. Ezzeddin Kanakrieh, Chief Executive Officer of the Jordan Social Security Investment Fund (SSIF) and Waddah Barqawi, Chairman of the Board of Directors of Government Investments Management Company. Under the terms of the agreement, the joint venture will oversee implementation, operations, and maintenance of the railway network through its executing arm, Etihad Rail, which is responsible for the UAE’s national railway network. This structure is expected to support efficient railway network development and long-term operational sustainability.

Sheikh Mansour bin Zayed stated that the agreement reflects the deep-rooted fraternal relations between the UAE and Jordan, built on a shared vision of cooperation, integration, and sustainable development. He emphasized that such partnerships represent a model of collaboration driven by trust and aligned strategic objectives, contributing to economic growth and regional stability. Al Mazrouei highlighted that the agreement represents a strategic step toward strengthening transport partnerships and enhancing Jordan’s role in global trade via the Port of Aqaba. The project builds on the US$5.5 billion investment agreement signed at the end of 2023 and is expected to enhance export capacity, improve logistics efficiency, reduce transportation costs, and create employment opportunities, further reinforcing railway network development across key sectors.

Developed by VinSpeed High-Speed Railway Investment and Development Joint Stock Company, a member of Vingroup, the project carries a total investment exceeding VND 147 trillion, equivalent to more than USD 5.6 billion, excluding land clearance costs. Extending across Hanoi, Bac Ninh, Hai Phong, and Quang Ninh, the 120.2 km line is designed as a double-track, standard-gauge (1,435 mm), fully electrified system. The route will originate at Co Loa Station, situated within the Vietnam National Exhibition Center in the Vinhomes Global Gate Hanoi urban area, and terminate at Ha Long Station, located in Globe Forest Park, Vinhomes Global Gate Ha Long, Quang Ninh. Along the corridor, three intermediate stations, Gia Binh(Bac Ninh), Ninh Xa (Hai Phong), and Yen Tu (Quang Ninh), will support passenger movement, complemented by a depot at the Ha Long terminal.

Trains on the Hanoi-Quang Ninh high-speed rail network will reach speeds of up to 350 km/h, while the section through Hanoi will operate at a maximum speed of 120 km/h. The project will incorporate next-generation rolling stock and advanced signaling, communications, and equipment systems provided by Siemens Mobility (Germany), alongside a defined roadmap for technology transfer to VinSpeed during operational phases.

Once completed, the Hanoi-Quang Ninh high-speed rail project is expected to enter commercial service in 2028, cutting travel time between Hanoi and Quang Ninh from over two hours to approximately 23 minutes, representing a five to seven times reduction.

Speaking at the ceremony, Mr. Bui Van Khang, Deputy Secretary of the Provincial Party Committee and Chairman of the People’s Committee of Quang Ninh Province, stated: “The Hanoi-Quang Ninh high-speed railway is a mega-project that carries significant expectations. It demonstrates the capacity and strong commitment of the investor, and stands as clear evidence of the increasingly deep participation of the private sector in critical national infrastructure.”

Representing the investor, Mr. Nguyen Viet Quang, Vice Chairman and Chief Executive Officer of Vingroup, shared: “Today’s launch ceremony for the Hanoi-Quang Ninh high-speed railway affirms Vingroup’s strong commitment to contributing to infrastructure development, steadily building a modern, internationally-standardized transport infrastructure system, thereby supporting socio-economic growth and improving the quality of life for the Vietnamese people.”

As Vietnam’s first inter-regional high-speed railway initiative, the project is positioned to drive momentum in the Northern Key Economic Region while advancing national competitiveness. It also represents the second undertaking by VinSpeed, following the groundbreaking of the Ben Thanh-Can Gio railway line in Ho Chi Minh City in December 2025, which is likewise scheduled for completion in the fourth quarter of 2028. Together, these projects underline VinSpeed’s execution capacity and contribute to building a multi-billion-dollar railway and supporting industries ecosystem, reinforcing Vietnam’s standing on the global stage.

Through this transport deal, the three countries intend to move beyond policy alignment and deliver tangible infrastructure and operational improvements. The memorandum sets out a plan to back commitments with targeted investment and digital upgrades aimed at enhancing efficiency and sustaining long-term collaboration. Authorities expect these measures to facilitate smoother movement of goods and passengers while simplifying border processes. By doing so, the initiative seeks to improve supply chain performance and expand trade flows between the participating nations. A structured three-year roadmap further defines the steps required by transport authorities, with a focus on transforming border crossings into dynamic hubs for economic activity rather than mere transit points.

A central component of the transport deal is the development of strategic corridors, particularly the “Middle Corridor,” which is envisioned as a key route linking regional markets and boosting transit trade. The railway sector has been identified as a priority, with plans to form a trilateral technical committee to assess existing infrastructure and outline requirements for future projects. Syria is already preparing a preliminary rail connectivity map to support joint planning. Among the flagship initiatives is the Hejaz Railway project, expected to connect Anatolia in the north with the port of Aqaba in the south and extend toward the Gulf, significantly improving the movement of goods and passengers.

The broader initiative also emphasizes modernizing the transport sector through streamlined border procedures, stronger links between ports and inland regions, and the adoption of digital transport management systems. Jordanian Minister of Transport Nedal Katamine said his country aims to strengthen its role as a regional logistics hub by developing multimodal transport, building modern logistics centers, upgrading border crossings, and expanding partnerships with the private sector. Türkiye’s Minister of Transport and Infrastructure Abdulkadir Uraloglu highlighted the economic potential of activating the “North–South Corridor,” noting its role in increasing export capacity, revitalizing ports, expanding market access, and boosting transit revenues. He added that the cooperation framework could eventually connect to wider routes linking the Arabian Peninsula, Central Asia, and Europe.

According to the minister, more than 60 road projects have been launched or implemented during the current five-year period, focusing on enhancing regional links and reducing congestion. Several major road schemes are scheduled for completion in 2026, while expansion work on the Muscat Expressway is set to begin in the third quarter of the same year. The land transport sector has also demonstrated growth momentum, with revenue increasing by 18 per cent in 2025. Digital transformation within the sector has been notable, with the Naql platform processing more than 900,000 transactions between 2019 and 2025 and issuing over 290,000 licences in 2025 alone. Public bus services carried more than 5 million passengers, reflecting ongoing efforts to modernise transport systems. These developments further reinforce Oman’s commitment to port and road development alongside digital integration.

Ports have emerged as another key pillar of growth. In 2025, Omani ports handled over 143 million tonnes of cargo, while container throughput exceeded 5.1 million twenty-foot equivalent units (TEU). Salalah Port is undergoing expansion, increasing capacity from 4.5 million to 6 million TEUs, as part of wider initiatives to enhance the country’s logistics and trade capabilities. Additional projects include ship recycling, marine fuel services, and new concession agreements. Revenue from the ports sector rose 17.4 per cent in 2025, while maritime affairs revenue grew by 9.4 per cent. Looking ahead, the government’s 2026-2030 strategy prioritises competitive, lower-emission ports, green fuel initiatives, and the development of smaller and medium-sized facilities, further advancing port and road development objectives.

Investment in logistics reached around RO3.3 billion during the current plan, with 18 agreements worth over RO100 million signed in 2025. Future efforts will focus on integrating ports, airports, free zones, and land crossings, alongside improving multimodal connectivity and digitising supply chains. On the digital front, Oman has streamlined more than 3,166 government services and digitised 2,277 permits, with transactions surpassing 48 million in 2025.

With private investment in artificial intelligence exceeding RO79 million and e-commerce reaching RO288 million in 2025, Oman aims to grow its digital economy contribution to RO1.5 billion by 2030 and expand its technology ecosystem all while continuing to prioritise port and road development as a cornerstone of its Vision 2040 ambitions.