Deputy Prime Minister Tran Hong Ha chaired a meeting on solutions to handle difficulties and obstacles in several BOT projects in transportation
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Leaders of ministries and sectors discussed and analyzed the causes of the shortcomings and difficulties of BOT projects due to changes in the application of legal regulations and practical situations; the principles and legal basis to handle projects as well as the responsibilities of the parties in accordance with signed contracts.
Deputy Minister of Transport Nguyen Danh Huy said that out of a total of 140 BOT projects in transportation implemented before the Law on Investment under the Public-Private Partnership (PPP) method was issued, there are currently 8 projects under the management of the Ministry of Transport with toll stations that still have obstacles that need to be handled, which are divided into 3 groups.
Specifically, Group 1 includes 2 projects with revenue declines and no recovery potential (Thai Ha Bridge and Ba Vi-Viet Tri Bridge). Group 2 is the project of the Deo Ca Road Tunnel to collect capital through the La Son-Tuy Loan toll station. Group 3 includes 2 projects that have been completed but are not allowed to collect tolls (Thanh Hoa City bypass and Binh Loi Bridge); 2 projects are only allowed to collect tolls at one of the two stations, resulting in a revenue decline, and have applied the solution of supplementing state capital, but are still not feasible (National Highway 91 through Can Tho City and Thai Nguyen-Cho Moi route and upgrading National Highway 3, section Km75-Km100); 1 project has a revenue decline and potential risks to security and order (National Highway 14 through Dak Lak).
Depending on the specific project, the Ministry of Transport proposes to amend the contract, supplement state capital to support the project to continue implementing the contract or terminate the contract before the deadline.
In addition, several BOT projects under the management of localities with toll stations have potential risks to security and order so tolls have not been collected yet, and revenue has been affected because transportation demand is not as expected due to the impact of socio-economic difficulties or the presence of additional parallel routes.
Deputy Minister of Transport Nguyen Danh Huy said that in implementing Notice of Conclusion No. 428/TB-VPCP, dated October 20, 2023, of Deputy Prime Minister Tran Hong Ha on solutions to handle difficulties and obstacles in several infrastructure investment projects in transportation under the BOT contract form, the Ministry has directly discussed with the relevant parties (investors, businesses, banks, etc.) to find solutions in the direction of jointly overcoming the existing problems and obstacles, minimizing losses, and following the principle of “harmonizing benefits and sharing risks”.
Deputy Minister of the Ministry of Planning and Investment Do Thanh Trung
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Deputy Minister of the Ministry of Planning and Investment Do Thanh Trung said that it is necessary to fully and comprehensively assess the “BOT landscape” in the country, especially the causes of the difficulties and obstacles, in order to propose comprehensive and decisive solutions.
Agreeing with this opinion, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that if the difficulties of BOT projects in transportation are not thoroughly resolved, it will be very difficult to attract socialized resources to invest in transportation infrastructure development in particular, and socio-economic development in general, according to the PPP model. “The State Bank of Vietnam has issued numerous directives to commercial banks to implement solutions to share with BOT project investors in terms of interest rates, debt restructuring, etc.”, said Mr. Dao Minh Tu.
Deputy General Inspector of the Government Le Sy Bay proposed developing a project and a framework mechanism to handle all BOT projects implemented before the PPP Law was issued that are facing difficulties and obstacles.
Concluding the meeting, Deputy Prime Minister Tran Hong Ha requested the Ministry of Transport to closely follow the content of Notice of Conclusion No. 428/TB-VPCP, urgently complete the report clarifying the causes of the difficulties and obstacles of the 8 aforementioned BOT projects, as well as of BOT projects in transportation implemented before the PPP Law was issued and took effect. In particular, it should clearly state the objective and subjective causes, the process of changing and improving policies and laws in each period on PPP, and the responsibilities of the relevant parties. The issues that have been resolved by the Government, ministries, sectors, and localities in accordance with their authority and responsibility. For matters under the authority of the Standing Committee of the National Assembly or the National Assembly, it is necessary to prepare a complete dossier for submission in accordance with regulations.
The proposed solutions must be in the direction that benefits the people and businesses, ensures strictness and transparency, and prevents the abuse of policies for profit or the evasion of responsibilities and obligations of the parties in relation to the signed project contracts.
