FUTA Rest Stop Limited Company shared that, in addition to serving the expressway, the rest stop can also be used for business purposes. Therefore, the rest stop was oriented towards social investment. However, due to the incomplete and unclear legal regulations on investing, operating, and exploiting rest stops in previous periods, it was challenging to implement social investment in rest areas. As a result, only six rest stops are currently in operation on the North-South expressway, with three under construction and 32 yet to be invested in.

The FUTA Rest Stop at Km47+500 belongs to the Phan Thiet – Dau Giay component project on the North-South expressway’s eastern branch. It is part of the network of rest stops on this route, approved by the Ministry of Transport in Decision No. 938/QD-BGTVT.

On June 21, 2024, the Director of the Vietnam Expressway Corporation issued Decision No. 111 QD-CDCWV approving the selection of investors for the project to construct and operate the FUTA Rest Stop at Km47+500. As a result, FUTA Rest Stop Limited Company was chosen as the project’s investor.

FUTA Rest Stop Project Perspective

FUTA Rest Stop, headquartered in District 1, Ho Chi Minh City, is led by General Director Tran Thi Hoa Xim. The project is scheduled for implementation from Q1/2025 to Q4/2025. It covers an area of 11.9 hectares, including a left-line stop – Station 1 (5.7 hectares) and a right-line stop – Station 2 (6.2 hectares). The project is located in Xuan Hoa commune, Xuan Loc district, Dong Nai province, and Tan Duc commune, Ham Tan district, Binh Thuan province.

The Phan Thiet – Dau Giay expressway is 99km long, with a 47.5km section passing through Binh Thuan and a 51.5km section through Dong Nai. It starts at Ham Kiem, Ham Thuan Nam district, Binh Thuan province, connecting to the Vinh Hao – Phan Thiet expressway, and ends at Lo 25 commune, Thong Nhat district, Dong Nai province, continuing to the Ho Chi Minh City – Long Thanh – Dau Giay expressway. The expressway features four lanes and two emergency lanes with widths ranging from 25 to 27 meters, allowing speeds of up to 120 km/h. Project components include parking lots, shops, cafes, indoor and outdoor play areas, management offices, accommodations for drivers, vehicle maintenance stations, gas stations, and electric vehicle charging stations.

According to the EIA report released in December 2024, the entire 11.9-hectare site is currently used for perennial crop cultivation. The investor stated that agricultural households would lose part or all of their agricultural land, affecting their livelihoods not only immediately but also for generations to come, as land is a non-renewable production resource. It is challenging for them to purchase equivalent agricultural land because there is no available agricultural land for compensation in the areas along the project route.

Households losing agricultural land also face challenges in transitioning to other occupations. Most of the working-age individuals in these households lack vocational training and are unskilled in working in factories or companies. However, since the project only occupies a small portion of each household’s total agricultural land, the loss of income from the affected land is minimal. With appropriate compensation policies that meet the people’s wishes, the impacts of land occupation can be minimized.

Location of FUTA Rest Stop
Location and Scale of Some Rest Stops on the North-South Expressway’s Eastern Branch

According to Decision 121/QD-CDCWV issued in December 2023 by the Vietnam Expressway Corporation, the preliminary cost of implementing the Km47+500 rest stop project is nearly VND 289 billion (excluding compensation, support, resettlement, and land lease costs). The investment capital comprises socialized capital, with 100% coming from the investor; mobilized capital, including owner’s equity and other legal sources; and state capital already spent during the project preparation phase, such as site clearance, consulting fees, and bidding organization costs. The investor will repay these costs according to Circular No. 01/2023/TT-BGTVT. The project has an implementation period of 18 months from the signing of the contract. The operation period is 25 years after the completion of the investment.

Decision 111/QD-CĐCTVN, issued in June 2024, announced that the winning investor was a joint venture between Phuong Trang Passenger Car Joint Stock Company (Futabuslines) and Thanh Hiep Phat Limited Company. The bid value was VND 260 billion, with a preliminary project implementation cost of nearly VND 291 billion and compensation, support, and resettlement costs of VND 3.3 billion.

FUTA Rest Stop Limited Company was established in early August 2024, with a charter capital of VND 300 billion. Thanh Hiep Phat contributes 60% of the capital, while Futabuslines contributes 40%. Thanh Hiep Phat, founded in 2004 and headquartered in Ho Chi Minh City, has a charter capital of VND 850 billion (recently increased from VND 650 billion in July 2024). Mr. Cao Thai Hung owns 69%, and Mr. Dao Viet Anh, who also serves as General Director and legal representative of Futabuslines, owns 31%. Mr. Anh is also the General Director and legal representative of Phuong Trang Real Estate Joint Stock Company in Danang.

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Thu Minh