On November 27, according to a report by Nguoi Lao Dong Newspaper, the ODA Project Management Board of Can Tho City submitted an update on the implementation of the Mekong Delta Region Urban Upgrading Project – Can Tho Sub-Project (Project 2) as per Notice No. 139/TB-UBND.
Ho Bung Xang, one of the contract packages under Project 2
The report indicates that Project 2, executed from 2012 to 2019, utilized ODA funds (allocated by the government) and counterpart funds. After three adjustments, the total investment exceeded VND 2,130 billion (approximately VND 1,434 billion in ODA and over VND 696 billion in counterpart funds). To date, the project has achieved a disbursement rate of over 98% and completed all 40 construction contract packages, which are now in use.
However, the most significant challenge currently lies in the final settlement value.
Specifically, the total settlement value of A-B and independent audit amounts to over VND 2,174 billion, surpassing the approved total investment by more than VND 44 billion as per the feasibility study (FS). However, the adjusted FS has not yet been approved by the competent authority.
Additionally, the handover process has encountered difficulties. Although 40 contract packages have been completed, 18 of them, despite being accepted, have not yet been handed over to the managing units. Furthermore, issues regarding the land compensation price for Cuu Long Company’s resettlement area and the compensation costs for constructing Hung Vuong Park remain unresolved.
To address these challenges, the ODA Project Management Board has proposed that the People’s Committee of Can Tho City extend the project implementation period until December 31, 2026. They have also suggested adjusting the capital structure by increasing the counterpart funds by over VND 77 billion and reducing the ODA funds accordingly to balance payments for completed but unsettled work.
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