Responding to VTC News Electronic Newspaper about the story of the Mekolor (Vietnam) and Great USA Inc. (USA) alliance proposing to implement the North-South high-speed railway project in the form of private investment; and this alliance has arranged 100 billion USD in investment capital through available sources, without needing counterpart capital from the budget, without requiring a government guarantee, which is causing a stir in public opinion, Dr. Phan Huu Duy Quoc, Chairman of the Board of Directors of Construction Corporation No. 1, said that from a professional perspective, he does not believe in the story of this joint venture.
To establish a joint venture and raise capital, the individual must be reputable and the business must be reputable enough. Partners, especially foreign partners, cannot easily trust a business that has not clearly demonstrated its revenue, profit, business capacity, and even the company office is surprising.
It is hard to believe that this is the office of a company that plays a key role in the joint venture proposing to build a key transport project. (Photo: HX)
"According to normal logic, to mobilize such a large amount of money, here hundreds of billions of USD, the company must have prestige, experience and capacity in that field, to be able to mobilize, regardless of whether it is a domestic or foreign investor.
In addition, you cannot say that you are participating in investing in such a large key transportation project but are just an investor calculating the operation and profit and loss without needing experience or reputation in the field," Mr. Quoc said.
Dr. Vo Kim Cuong, former Deputy Chief Architect and Deputy Director of the Ho Chi Minh City Department of Construction, said that according to legal regulations, to bid, the participating unit must have capacity corresponding to the capital as well as technical requirements. Currently, there are also many opinions that construction capacity is not the basic requirement for an investor, but this will be proven throughout the process of participating in the project investment.
The investor's capacity is demonstrated in the ability to mobilize capital, management ability, ability to ensure law enforcement... But in this case, a unit without enough prestige and experience in the field will find it difficult to meet the requirements.
It is important to note that the two issues in bidding are price and capacity. Capacity includes the business's operating process, reputation, and quality of completed projects. In many cases, the winning bidder is not the one with the lowest bid, but the one determined to be the most capable and best qualified to carry out the project. Therefore, before proposing to invest in a project or work, businesses must calculate their respective capacity and finances, and cannot be vague.
Mr. Vo Xuan Truong said that his joint venture does not invest with dreams or canvas.
"I'm not talking about small or large companies, or how much charter capital. This is a joint venture, and as the representative, you have to prove who the partners are in the joint venture and what kind of joint venture it is. The company itself with a charter capital of 1 billion VND cannot be responsible for the project, but the joint venture must be responsible.
In my opinion, the State will have to have regulations to eliminate units that waste too much time. Because if they do not clearly demonstrate the units participating in the joint venture, the State must verify, see what capacity these units have, even verify whether they are units related to corruption, money laundering... many complicated issues," said Dr. Vo Kim Cuong.
Meanwhile, economist Dinh The Hien said that in a market economy, there are tens, hundreds of thousands of businesses, each with different business directions and goals. If they do wrong or violate the law, the law will handle it. Businesses have the right to declare and participate in any project they are capable of, have the capacity to, and that is suitable for their business goals. Let's respect them.
As for capital mobilization, it is not just empty talk. Violations of regulations and profiteering will be dealt with by law. The law is very strict with this.
"But the market has seen many people who lack the ability to build a story and then speak out to become famous, take advantage of the media to create a brand, then... calculate the next step. Let's forget about them, don't help build a brand like that," said expert Dinh The Hien.
The North-South high-speed railway project was approved by the National Assembly in November 2024, with a total preliminary capital of about 1.7 quadrillion VND (equivalent to 67 billion USD). The 1,541 km long route, starting from Ngoc Hoi station ( Hanoi ) and ending at Thu Thiem station (Ho Chi Minh City), passes through 20 provinces and cities.
The project is newly invested with a double gauge of 1,435 mm, a design speed of 350 km/h, a load capacity of 22.5 tons/axle, including 23 passenger stations and 5 freight stations, meeting the needs of passenger transport and being able to transport freight when necessary, while serving national defense and security goals.
Currently, there are two leading private enterprises proposing investment: VinSpeed and Thaco.
On June 11, on his personal Facebook page, Mr. Vo Xuan Truong posted information that he would hold a press conference to announce a proposal to invest 100 billion USD in the North-South High-Speed Railway Project.
He said that to ensure transparency and accuracy of information, the Mekolor – Great USA Joint Venture will hold a press conference to announce this investment plan. At the same time, to directly answer questions and concerns of the public, media, investors as well as present financial and legal evidence, along with a clear development orientation; conditions for capital mobilization... Affirming that they are not investing with dreams or canvases but are operating capital with real architecture, real data that can be audited and monitored.
The press conference will be held in Hanoi but there is no specific information about the location and time yet.
Source: https://vtcnews.vn/chuyen-gia-khong-tin-lien-doanh-chi-100-ty-usd-lam-duong-sat-cao-toc-bac-nam-ar948133.html
Comment (0)