Specific mechanisms and policies for high-speed railways: Must clearly define scope, responsibilities, commitments and risk control

(laichau.gov.vn) On the morning of November 3, Deputy Prime Minister Tran Hong Ha chaired a meeting to listen to reports and give opinions on the National Assembly's draft resolution on a number of specific mechanisms and policies, especially applicable to the North-South high-speed railway project.

Deputy Prime Minister Tran Hong Ha chaired a meeting to listen to reports and give opinions on the National Assembly 's draft resolution on a number of specific mechanisms and policies, especially applicable to the North-South high-speed railway project - Photo: VGP/Minh Khoi

The Deputy Prime Minister said that submitting to the National Assembly a resolution on specific mechanisms and policies, especially for the North-South high-speed railway project, is a big requirement. It is necessary to determine the relationship between the mechanisms and policies in the draft resolution and the mechanisms and policies issued for public investment methods in the essential infrastructure sector; clarify outstanding incentives for private investment forms, public-private partnership (PPP) methods; risk control mechanisms, and protection of state capital safety.

The Deputy Prime Minister said that submitting to the National Assembly a resolution on specific mechanisms and policies, especially for the North-South high-speed railway project, is a big requirement - Photo: VGP/Minh Khoi

The Deputy Prime Minister emphasized that when investing in public sectors, the State is responsible for management and risks; when investing in private sectors, enterprises will manage and must bear corresponding responsibilities. Therefore, mechanisms and policies need to establish a harmonious relationship between rights and responsibilities, ensuring financial security and safety.

Regulations on 3 forms of high-speed railway investment

According to the report of the Ministry of Construction , the group of specific and special mechanisms and policies will include: General regulations applicable to all three forms of public investment, PPP, and business investment; regulations applicable specifically to the form of business investment; regulations applicable specifically to the PPP investment method; anti-corruption mechanisms...

Deputy Minister of Construction Bui Xuan Dung reports at the meeting - Photo: VGP/Minh Khoi

At the meeting, delegates discussed in detail the general terms and regulations related to: Compensation, resettlement support and relocation of power projects; exploitation of minerals for materials and dumping sites; investment preparation; exploitation of stations and urban development areas in the direction of traffic routes (TOD); financial policies; development of science, technology and human resources; industrial development and technology transfer.

In addition, mechanisms and policies applied specifically to business investment forms (capital arrangement and disbursement plans; investment guarantees; tax incentives; operations and exploitation...); applied specifically to PPP investment methods (mechanism for sharing the difference between actual revenue and revenue in the project's financial plan).

Deputy Minister of Finance Do Thanh Trung speaks - Photo: VGP/Minh Khoi

Regarding capital sources, Deputy Minister of Finance Do Thanh Trung proposed adding a mechanism to share responsibility for resources with local budgets, similar to the expressway projects being implemented. At the same time, in cases where state-owned enterprises are capable of participating in related infrastructure investment, it is necessary to allow the mobilization of enterprise capital, instead of strictly regulating all from the central budget.

Meanwhile, Deputy Governor of the State Bank Nguyen Ngoc Canh said that it is necessary to clarify the mechanism for state lending in the case of investment in the form of business investment (especially the loan ratio and the method of calculating the repayment period for each disbursement); at the same time, propose to adjust a number of regulations related to credit limits and supervisory responsibilities, to ensure feasibility and compliance with current laws.

Deputy Minister of Justice Nguyen Thanh Tu speaks - Photo: VGP/Minh Khoi

Deputy Minister of Justice Nguyen Thanh Tu emphasized the requirement that the resolution must ensure consistency and synchronization with the current legal system, such as the Investment Law, PPP Law, Land Law and related resolutions currently in effect. Important financial mechanisms such as the ratio of state capital for lending or credit limits need to be carefully assessed for impact and feasibility, especially risks, prevention of negative and policy profiteering.

The draft resolution also needs to add content on binding responsibilities, commitments, and handling mechanisms if investors are behind schedule, violate commitments, become financially incapacitated, or go bankrupt.

Some other opinions say that evaluating international experience is mandatory to avoid problems in the preparation process, help choose a suitable investment model, and ensure efficiency in investment organization, operation and maintenance.

The project impact assessment should be carried out comprehensively, not only during the construction phase but also during the exploitation, operation and maintenance of the system.

Technological capacity and technology transfer are key issues.

Concluding the meeting, Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to fully absorb all comments and promptly complete the draft resolution to ensure high comprehensiveness, clearly defining the scope and subjects of application for all three forms: Public investment, private investment and PPP.

In particular, the Ministry of Construction needs to clarify the relationship between this resolution and the resolutions issued related to specific mechanisms and policies for the railway and construction materials industries... Effective mechanisms and policies should be inherited and integrated, while those that are not strong enough should be reviewed, improved and upgraded to ensure that the resolution is truly groundbreaking and meets practical requirements.

Regulations that have been fully legalized should not be repeated, avoiding redundancy and ensuring convenience in organization and implementation.

Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to fully absorb all comments and promptly complete the draft resolution to ensure its comprehensiveness - Photo: VGP/Minh Khoi

The Deputy Prime Minister emphasized a number of important contents.

Specifically, the State lending mechanism in the case of investment in the form of business investment must have full justification from the investor's capacity, capital flow control mechanism to risk prevention plan and asset preservation plan formed from State capital. At the same time, it is necessary to clearly define the responsibilities of enterprises in both cases: Objective risks (natural disasters, epidemics, force majeure) and risks due to weak capacity or violations, including the plan for the State to take over or nationalize assets when necessary to protect public interests.

The investor's technological capacity and technology transfer are considered key issues, in line with the requirements of technology mastery and development of the domestic railway industry. Investors must build a clear roadmap from reception, operation, maintenance to step-by-step production and manufacturing, based on the ability to absorb technology, human resources capacity and domestic market scale; commit to a specific and feasible technology transfer plan.

The draft resolution also needs to clarify the management mechanism, asset ownership, operation methods and responsibilities of the State, enterprises and Vietnam Railways Corporation throughout the entire project life cycle, to avoid overlap and legal risks later.

The Deputy Prime Minister assigned the Ministry of Construction to preside over and coordinate with the Ministry of Finance, the State Bank, the Ministry of Science and Technology, the Ministry of Justice, the Ministry of Transport, the Vietnam Railway Corporation and the Government Office to establish an editorial team to review, assess the impact and complete the draft resolution.

Updated on November 3, 2025

Source: https://laichau.gov.vn/tin-tuc-su-kien/chuyen-de/tin-trong-nuoc/co-che-chinh-sach-dac-thu-cho-duong-sat-toc-do-cao-phai-ro-pham-vi-trach-nhiem-cam-ket-va-kiem-soat-rui-ro.html