Proposed 9 mechanisms and special policies
On the morning of May 19, the National Assembly listened to the presentation and reviewed the report on the investment policy for the Quy Nhon-Pleiku Expressway project and the Bien Hoa-Vung Tau Expressway project, phase 1.
Regarding the Quy Nhon-Pleiku Expressway project, Minister of Construction Tran Hong Minh informed that the Government proposed investing in a new expressway route, approximately 125 km long, with a scale of 4 lanes and a designed speed of 100 km/h. The project is divided into 2 component projects, implemented through public investment.
Minister of Construction Tran Hong Minh. Photo: N.Y
The preliminary total investment of the project is VND 43,734 billion. In terms of progress, the project is expected to be prepared and implemented from 2025 and completed by 2029.
The Government proposes to apply 9 special mechanisms and policies, including 3 policies that have been applied to the Khanh Hoa-Buon Ma Thuot Expressway project, 5 policies applied to the Lao Cai-Hanoi-Hai Phong railway project, and 1 policy applied to the high-speed North-South railway project.
Reviewing this content, Chairman of the Committee for Economy and Finance Phan Van Mai stated that the reviewing agency requested the Government to further elaborate on the adjustment of some of these special policies. At the same time, it is necessary to thoroughly review the applied mechanisms and policies to ensure their feasibility and suitability for the nature and objectives of the project.
In addition, the reviewing agency also requested the Government to supplement the review of the capital source and the ability to balance the project’s capital in accordance with the current Law on Public Investment.
Bien Hoa-Vung Tau Expressway to increase by VND 3,714 billion
Regarding the Bien Hoa-Vung Tau Expressway project (phase 1), according to Minister Tran Hong Minh, the National Assembly has decided on the investment policy for the project, with a length of 53.7 km of expressway, a designed speed of 100 km/h, and a scale of 4-6 lanes. The preliminary total investment for the project is about VND 17,837 billion, divided into 3 component projects.
Chairman of the Committee for Economy and Finance Phan Van Mai. Photo: N.Y
In terms of capital sources, the Government proposes to adjust the preliminary total investment for the entire project, increasing it from VND 17,837 billion to VND 21,551 billion (an increase of VND 3,714 billion).
At the same time, the Government also proposes to adjust the capital sources so that the state budget for the 2021-2025 period is VND 17,124 billion (an increase of VND 2,854 billion) and the central budget for the 2026-2030 period is VND 4,427 billion (an increase of VND 860 billion).
Reviewing this, Chairman Phan Van Mai stated that the preliminary total investment for the project increased by VND 3,714 billion (equivalent to about 20.8%), which is quite large.
Therefore, the reviewing agency requested a further review of the project’s increasing and decreasing costs and additional analysis to clarify the reasons for these cost adjustments, ensuring justification and reasonableness in proposing adjustments to the investment policy.
For the state budget capital in the 2021-2025 period, the reviewing agency requested the Government to direct relevant agencies to further clarify the capital sources and the ability to balance the project’s capital.
Some opinions suggested that with the implementation of the policy on the rearrangement and merger of provincial-level administrative units, these two localities will be merged into new administrative units, which may affect the ability to arrange and coordinate local capital according to the plan.
Therefore, it is requested that the Prime Minister and the People’s Committees of the localities, as the managing agencies, take responsibility for ensuring sufficient capital allocation for the project.
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