The project will improve connections in the Central Mekong Delta region through construction of the two cable-stayed bridges and 26km of associated roads. The scheme should cut travel time between Ho Chi Minh City and Long Xuyen from 3.5 hours to 2.5 hours.

Overall cost of the project is put at US$860 million, with US$410 million financed by the ADB and US$93 million coming in grant financing from the Australian Agency for International Development (AusAID) for the Cao Lanh bridge and interconnecting road. Parallel financing of US$260 million from the Export-Import Bank of Korea will be used to construct the Vam Cong Bridge and its associated road works. The government of Vietnam will contribute US$56 million towards the cost of the project.

The highway is expected to be open to traffic by the end of 2017.