Delegate Dang Xuan Phong agrees with the policy of building high-speed railway.

On the morning of November 13th, during the group discussion session, delegate Dang Xuan Phong, Member of the Central Committee of the Party, Secretary of the Provincial Party Committee, and Head of the National Assembly Delegation of Lao Cai province, expressed strong agreement with the policy of building a high-speed railway line.

Delegate Dang Xuan Phong delivered a speech during the discussion on the morning of November 13th.

According to the delegates, our railway system is very slow. "In the context of current global and regional trends, we strongly agree with the policy of building high-speed railways," said delegate Dang Xuan Phong.

Delegates expressed their concerns: "Some comrades have voiced their worries about the high-speed railway line. We share those concerns, but we believe that despite the worries, there's no need to be overly concerned. We are confident that we will be able to implement it and ensure that the requirements regarding technology, capital, and progress are met."

The delegation of National Assembly representatives from Lao Cai province at the group discussion session on the morning of November 13.

Regarding capital, delegate Dang Xuan Phong stated: This is the initial step, a pre-feasibility step. Some comrades expressed concerns about two indicators: one is public debt, and the other is the budget deficit.

According to reports from the Government and the National Assembly, public debt is currently at 37% of GDP, while the National Assembly allows 60%. This is generally considered very good because it is lower than the National Assembly's allowed threshold, making it very safe. From one perspective, it's good, but from another perspective, I don't think it's good; it should be closer to 60% to be considered good, because investment is necessary for growth. Without investment, there will be no growth, no development.

Many countries have very high public debt, even exceeding 100% of GDP. The most important thing is to consider public debt in relation to other indicators. I understand that public debt and budget deficits are related to major balances, such as inflation. But if our public debt increases and GDP increases by 2%, while inflation only increases by 1%, then we are completely in control of this issue.

A view of the group discussion session on the morning of November 13th.

Another issue that Representative Dang Xuan Phong is concerned about is special policies. Based on the reality of some recent projects and constructions experiencing delays and significant cost overruns, the representative proposed that there should be exceptional special policies to encourage the acceleration of project completion.

Another key policy factor is the leader. If the head of the Party, State, or Government is the head of the steering committee, delegates believe that projects will be implemented very quickly, ensuring technical and aesthetic requirements are met.

Source: https://baolaocai.vn/dai-bieu-dang-xuan-phong-dong-tinh-ve-chu-truong-xay-dung-duong-sat-toc-do-cao-post393322.html