The Deputy Prime Minister, Tran Hong Ha, concluded after hearing the report from Vinspeed and the opinions of the delegates. The Politburo has issued Resolution No. 68 on the development of the private economy, which clearly states the policy of expanding the participation of the private sector in important national projects. The state encourages private enterprises to cooperate with the state in strategic fields such as high-speed railways, urban railways, and key industries…
Therefore, at the meeting, the initial opinions of the ministries and agencies basically supported and welcomed Vinspeed’s proposal to invest in the high-speed railway project on the North-South axis.
However, the proposal to change the investment form and apply a number of specific mechanisms and policies, especially to implement the project, needs to be reported to the competent authority and is within the jurisdiction of the National Assembly.
High-speed railway. Illustration: The Sun |
Regarding the draft resolution on piloting a number of mechanisms and policies, especially for investing in the development of the railway system, the Deputy Prime Minister assigned the Ministry of Construction to review the investor’s proposals carefully, synthesize opinions, and finalize the draft. Subsequently, it will be submitted to the competent authority and the National Assembly before May 20th.
For the specific proposal of the high-speed railway project on the North-South axis, the Deputy Prime Minister assigned the Ministry of Construction to synthesize the proposal and the opinions of the ministries and sectors before submitting it to the competent authority for consideration of the policy on the conversion of the investment form and the specific mechanisms and policies for the project implementation.
The Deputy Prime Minister also assigned the Ministry of Finance to carefully evaluate the feasibility of converting the investment form from public to direct investment; assess the feasibility and balance the state’s capital sources to lend to the enterprise as proposed by the investor; and assess the specific mechanisms and policies for the project (including the state lending to private enterprises without interest for 35 years, the project’s operation period of 99 years, the minimum fare by class, and the enjoyment of other investment incentives as prescribed by law…).
The State Bank is responsible for reviewing, evaluating, and completing the policies on the project’s total debt, which will not be counted in the total debt of Vingroup’s loan according to the Law on Credit Institutions, as suggested by the Ministry of Finance.
The Ministries of Agriculture and Environment, Justice, Public Security, National Defense, Industry and Trade, and Science and Technology shall, in accordance with their functions and tasks, review, comment, and assess the impact of the mechanisms and policies proposed by Vinspeed.
Regarding the progress of implementation, the ministries and agencies urgently need to provide opinions and propose contents according to their functions and tasks and send them to the Ministry of Construction before May 19th.
The Ministry of Construction is responsible for synthesizing and reporting to the Party Committee of the Ministry of Construction and the Party Committee of the Government before May 22nd, and reporting to the competent authority and the National Assembly at the 9th session of the 15th National Assembly (with the permission of the competent authority).
The conclusion also states that Vinspeed is responsible for coordinating with the Ministry of Construction and the Ministry of Finance to finalize the investment proposal and compare the two investment options between the state and the private sector. This includes clarifying the feasibility, completion progress, and investment efficiency, thereby demonstrating the advantages of private investment in terms of speed, cost, and effectiveness.
Work with ministries and agencies to clarify and finalize the specific mechanisms and policies, and submit reports to the competent authority for consideration and decision-making.
Vinspeed is responsible for fulfilling its commitments regarding the proposed contents, researching and developing the railway industry, and playing a leading role in supply chain development if the investment proposal is approved.
Tam An
– 15:25 15/05/2025
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