Groundbreaking ceremony for 45 million USD steel factory; Additional 800 billion VND to build new Phong Chau bridge

Groundbreaking ceremony for $45 million steel factory; Additional VND800 billion to build new Phong Chau bridge

Hai Phong : Groundbreaking ceremony for the 45 million USD Viet Phap steel factory; Additional 800 billion VND from the central budget reserve to build the new Phong Chau bridge...

Those were two of the notable investment news stories of the past week.

Hai Phong: Groundbreaking ceremony for the 45 million USD Viet Phap steel factory

On the morning of November 12, the groundbreaking ceremony for the construction of the Viet Phap Steel and Iron Factory No. 2, with a total investment of 45 million USD, was held at Nam Dinh Vu Industrial Park, Hai Phong City.

Nam Dinh Vu Industrial Park has outstanding traffic advantages, located near a large seaport, helping to shorten transportation time, optimize logistics costs and increase the competitiveness of Vietnamese products when reaching international partners. Photo: Thanh Son

The factory has a total area of ​​75,000 m2, with a total investment of nearly 45 million USD for phase 1; with a production capacity of up to 350,000 tons of steel products per year. The project is invested by Viet Phap Steel Joint Stock Company and Hai Long Construction Joint Stock Company as the general contractor.

Ms. Mai Minh Nguyet, Chairwoman and General Director of Viet Phap Steel Corporation, said that the factory will apply the most modern production technology from international partners, ensuring high quality standards, efficiency and environmental friendliness. When completed, the factory will contribute not only to providing quality products, but also to promoting local economic development, creating many new job opportunities.

The factory is located in Nam Dinh Vu Industrial Park, which has outstanding transportation advantages, located near major seaports and national connecting routes. This helps shorten transportation time, optimize logistics costs and increase the competitiveness of Vietnamese products when reaching international partners.

Speaking at the groundbreaking ceremony, Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, congratulated the achievements of Viet Phap Steel and Ton Joint Stock Company in recent times. Viet Phap Steel and Ton chose Nam Dinh Vu Industrial Park of Sao Do Group, an industrial park with good infrastructure, good electricity and other facilities, and close to the port. Hai Phong City as well as the Management Board are always committed to supporting and creating the most favorable conditions for businesses to operate and develop production and business with the best results and satisfaction.

The Head of the Hai Phong Economic Zone Management Board requested the investor and contractor to focus on human and material resources to put the Project into use as quickly and effectively as possible, ensuring safety during the construction process. The Hai Phong Economic Zone Management Board will support and remove difficulties during the implementation process so that the Project can be put into operation soon.

Providing more information at the groundbreaking ceremony, Mr. Le Trung Kien said: Hai Phong is planning to establish a coastal economic zone in the South of Hai Phong with an area of ​​about 20,000 hectares - a 3.0 generation, multi-industry eco-economic zone, focusing on high-tech industry, seaports, modern logistics and smart urban areas, as the city's hub to participate in the regional and global value and supply chains. In particular, Hai Phong proposes to establish a Free Trade Zone with many specific mechanisms and policies, promising to create a large, dynamic, attractive and potential development space for the City.

On the side of the general contractor, Mr. Pham Anh Tien, Chairman of Hai Long Construction Joint Stock Company said: With our capacity and experience, we will successfully implement this project according to the quality and progress as committed to the investor, Viet Phap Steel Joint Stock Company.

Proposal to allocate 500 billion VND to renovate and upgrade National Highway 14D

Quang Nam proposed that the Central Government consider continuing to allocate about 500 billion VND in capital for the National Highway 14D Renovation and Upgrading Project in 2025.

The People's Committee of Quang Nam province has just issued a document proposing the Ministry of Planning and Investment to submit to competent authorities for consideration to continue allocating capital for the Project to Renovate and Upgrade National Highway 14D in 2025 (about 500 billion VND).

According to the People's Committee of Quang Nam province, the 74.4 km long National Highway 14D connecting Ho Chi Minh road with Nam Giang international border gate, Quang Nam province is a vital route, part of the East-West Economic Corridor 2, playing a particularly important role in the socio-economic development strategy of the dynamic economic region of the Central region with Northeast Thailand, Southern Laos and is the only route to the highlands, the western border of Quang Nam province.

Since July 2023, the traffic of heavy trucks transporting goods from Laos to Vietnam through Nam Giang international border gate has increased (about 250 trips/day and night and now increased to about 500 trips/day and night), so this route has been degraded, and is now even more seriously degraded.

Implementing the Prime Minister's direction on researching and investing in the route connecting Nam Giang border gate to Quang Nam seaport in Notice No. 135/TB-VPCP dated May 6, 2022 and Notice No. 165/TB-VPCP dated June 6, 2022 of the Government Office; The Ministry of Transport and the People's Committee of Quang Nam province have surveyed and researched investment and construction options.

The results of the investment plan research were reported by the People's Committee of Quang Nam province to the Prime Minister, Central Ministries and branches in Report No. 232/BCUBND dated October 6, 2023.

After reviewing the reports of the Ministry of Transport in Official Dispatches No. 12857/BGTVT-KHDT dated November 13, 2023, No. 380/BGTVT-KHDT dated January 11, 2024 and of the People's Committee of Quang Nam province in Report No. 232/BC-UBND dated October 6, 2023, Deputy Prime Minister Tran Hong Ha directed the study of the plan to renovate and upgrade National Highway 14D and assigned the Ministry of Transport to preside over and coordinate with the Ministry of Planning and Investment, the Ministry of Finance, and the People's Committee of Quang Nam province to determine and balance the capital sources to implement the project in Official Dispatches No. 9927/VPCP-CN dated December 20, 2023, Official Dispatch No. 798/VPCP-CN dated February 1, 2024 of the Government Office.

The Ministry of Transport issued Official Dispatch No. 3307/BGTVT-KHDT dated March 28, 2024 requesting the Ministry of Planning and Investment to synthesize and report to the Prime Minister and the National Assembly Standing Committee to add the National Highway 14D Renovation and Upgrading Project to the Medium-term Public Investment Plan (2021-2025 period) with a budget of VND 4.6 billion to implement investment preparation work, but up to now, the capital source has not been allocated, so the investment preparation step cannot be implemented.

In order to promptly ensure traffic safety on National Highway 14D, promote the investment efficiency of the National Highway 14E Improvement and Upgrade Project (connecting from Nam Giang international border gate, following National Highway 14D, Ho Chi Minh Road, National Highway 14E to Chu Lai port - Chu Lai Open Economic Zone), the People's Committee of Quang Nam province respectfully requests the Ministry of Planning and Investment to pay attention and report to the Prime Minister for consideration and early submission to the National Assembly Standing Committee for consideration and adjustment of the Medium-term Public Investment Plan, period 2021-2025 and immediately allocate 4.6 billion VND in 2024 for the Ministry of Transport to organize bidding and select a consulting unit to prepare the Pre-Feasibility Study Report of the National Highway 14D Improvement and Upgrade Project for timely submission for appraisal and approval at the request of the Ministry of Transport in Official Dispatch No. 3307/BGTVT-KHDT dated March 28, 2024.

Quang Nam Provincial People's Committee also proposed that the Central Government consider and continue to allocate capital for the National Highway 14D Renovation and Upgrade Project in 2025 (about 500 billion VND) to continue implementing, completing investment preparation work and organizing bidding to select construction units, and soon start construction in 2025.

Removing the final knot in adjusting Hanoi metro line 2

The 4-year investment policy adjustment roadmap for the Hanoi Urban Railway Project, Line 2, Nam Thang Long - Tran Hung Dao section, is about to end and move to the implementation phase.

After about 2 months of review, in the middle of last week, the Ministry of Planning and Investment issued Official Letter No. 9173/BKHĐT-GSTTĐĐT to the Government leaders to clarify the final problems related to the dossier adjusting the investment policy of the Hanoi Urban Railway Construction Project, Line 2, Nam Thang Long - Tran Hung Dao section (Nam Thang Long - Tran Hung Dao Metro Project).

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This document was issued by the Ministry of Planning and Investment after self-reviewing current regulations, synthesizing opinions from the Ministry of Justice, Hanoi People's Committee and relevant ministries and branches.

The Nam Thang Long - Tran Hung Dao metro project was approved by the Prime Minister in January 2008. In October 2020, the Hanoi People's Committee submitted to the Prime Minister for consideration and adjustment of the project's investment policy. After 4 years of carrying out the necessary procedures, in early August 2024, the Hanoi People's Committee continued to submit Document No. 275/TTr-UBND requesting the Prime Minister to consider and decide to adjust the project's investment policy.

Previously, at the end of August 2024, Deputy Prime Minister Bui Thanh Son requested the Ministry of Justice to study and provide written opinions on the dossier for submitting the adjustment of the investment policy of the Project, clarifying the legal basis and authority to decide on adjusting the investment policy; authority to allow capital allocation through 3 periods of the medium-term public investment plan for the Project; the necessity, legal basis, timing and process, and procedures for reporting to the National Assembly Standing Committee.

“Based on the opinions of the Ministry of Justice, the Ministry of Planning and Investment shall preside over and coordinate with the Hanoi People's Committee and relevant agencies to review, synthesize and report to the Prime Minister to adjust the investment policy of the Project,” Deputy Prime Minister Bui Thanh Son directed.

It is known that these are the last 3 problems to be able to close the investment policy adjustment roadmap that has lasted for 4 years of this project.

In Official Dispatch No. 9173/BKHĐT-GSTĐĐT, the Ministry of Planning and Investment stated that, according to the provisions of the Law on Public Investment 2019, the Project before adjustment was a Group A project, which was included by the Prime Minister in the List of Projects using loans from the Government of Japan in August 2007 and approved for investment in January 2008. "Therefore, the adjustment of the Project's investment policy is under the decision-making authority of the Prime Minister," the Ministry of Planning and Investment stated its opinion.

Regarding the time of reporting to the National Assembly Standing Committee on the selection of special loan conditions for economic partners for the Nam Thang Long - Tran Hung Dao metro project, the Ministry of Planning and Investment proposes to follow the guidance of the Ministry of Justice. Specifically, after the project is approved for investment policy adjustment, the Hanoi People's Committee will report to the Government to seek the opinion of the National Assembly Standing Committee on this content.

Regarding the allocation of capital over 3 medium-term public investment plans, the Ministry of Planning and Investment said that the Law on Public Investment stipulates that the ability to balance capital sources can only be implemented according to the 5-year medium-term public investment plan, and the portion transferred to the next phase must not exceed 20% of the public investment plan of the previous phase.

The project is expected to last 15 years, through 3 medium-term public investment plan periods, but there are no regulations on balancing capital sources for the third phase.

However, according to Clause 3, Article 104, Decree No. 29/2021/ND-CP on procedures for appraising important national projects and monitoring and evaluating investment, if a project is in the process of implementation and there is a change that makes the project fall under the criteria of important national projects, those projects can continue to implement the project contents that have been approved by competent authorities.

The order and procedures for adjusting project investment policies and adjusting projects shall be implemented in accordance with legal regulations at the time of project adjustment as for the project or group of projects before adjustment; the investment decision maker shall report to the Prime Minister for consideration and direct the National Assembly to report at the year-end session on the project implementation status, including issues arising in criteria of important national projects.

“On that basis, in Submission No. 275/TTr-UBND dated August 12, 2024, the Hanoi People's Committee proposed to report to the Prime Minister for permission to implement and report this content when reporting to the National Assembly on the implementation status of the Project at the year-end session according to the provisions of Article 104, Decree No. 29/2021/ND-CP”, said the leader of the Ministry of Planning and Investment.

Adjusting Phase 1 of Long Thanh Airport Project: Essentially Speeding Up Progress

On the morning of November 13, the National Assembly discussed the adjustment of the investment policy for the Long Thanh International Airport Project. Delegates highly agreed on the policy of adding an additional runway in phase 1 of the project.  

On the morning of November 13, the National Assembly discussed the adjustment of investment policy for the Long Thanh International Airport Project.

Previously, the Government's Proposal on adjusting the investment policy of the Long Thanh International Airport Project requested the National Assembly to consider and adjust the scale and implementation time of Phase 1 of the project in the direction of: adding an additional runway (Runway No. 3) and "extending" the completion schedule to the end of 2026 instead of the end of 2025 as at present.

Speaking at the group discussion this morning, National Assembly delegates all expressed agreement with the Government's submission.

Delegate Nguyen Phuong Thuy (Hanoi) said that adjusting the project as proposed by the Government is very necessary. However, the delegate said that the project has been submitted to the National Assembly for adjustment many times (adjusted every 1-2 years), having to submit it to the National Assembly for comments many times, deciding on specific details leads to the project being extended. Therefore, when amending the Law on Public Investment, according to decentralization and delegation of authority, the Government should flexibly decide.

Delegate Huynh Thanh Chung (Binh Phuoc) also said that adding a runway in phase 1 is very necessary for socio-economic development, as well as ensuring safety and continuous operation (when this runway is maintained, another runway will be in operation). The capital plan has also been carefully calculated, not affecting the total investment.

However, delegates recommended that the Ministry of Transport and the Vietnam Airports Corporation (ACV) consider reserve funds. Accordingly, the source for implementing the additional runway will be partly taken from the reserve fund, so if during the implementation of approved items, if there are changes in scale, technology, etc., there will be no reserve funds to handle.

Delegate Huynh Thanh Chung suggested that the Draft Resolution should clearly state the priority of maximizing the use of reserve funds to build additional runways, but in cases of force majeure, the government should be allowed to supplement the budget.

Regarding this project, Minister of Natural Resources and Environment Do Duc Duy said that according to the design, by the time of completion, Long Thanh airport will have 4 runways, these runways are designed to ensure international standards, and can take off and land simultaneously.

Currently, at Noi Bai and Tan Son Nhat international airports, there are 2 runways for take-off and landing, but they do not ensure a large enough distance, so they cannot take off and land at the same time, requiring waiting time, sometimes lasting 5-10 minutes, causing waste.

Actual inspection shows that the Long Thanh airport project phase 1 is suitable for the construction of Runway 3. If it is delayed until phase 3 as the current plan, it will affect operations, cause noise and insecurity for Runway 1 during operation. In addition, the capital source has also been carefully calculated (using savings from other bid packages and reserve sources).

"Adjusting the project may seem complicated, but in fact it is to speed up the project's progress. I hope the National Assembly will acknowledge the Government's efforts," said the Minister.

Expanding the scope of discussion related to the adjustment of the Long Thanh airport project, delegate Huynh Thanh Chung (Binh Phuoc) suggested that the Ministry of Transport and ACV need to carefully study the internal traffic planning of Long Thanh airport to ensure connection with other terminals.

“If the internal planning of Long Thanh airport does not have internal traffic routes to other terminals, passengers must check out and then move to other terminals, it will cause inconvenience to customers and make Vietnam lose its advantage. I propose that the Ministry of Transport and ACV study and add tram and bus routes connecting Long Thanh international terminal with the railway station and other terminals on the basis of security control, only then will Long Thanh airport become a passenger transit point in the region,” delegate Huynh Thanh Chung suggested.

Strictly handle violations and obstructions that slow down capital transfer progress.

On the afternoon of November 13, with 432/432 delegates present in agreement, the National Assembly passed a Resolution on the central budget allocation plan for 2025.

The resolution stated that the total central budget revenue was 1,020,164 billion VND. The total local budget revenue was 946,675 billion VND.

The resolution on the central budget allocation plan for 2025 has been passed by the National Assembly .

The National Assembly decided to use 60,000 billion VND of the central budget's accumulated salary reform fund and 50,619 billion VND of the local budget's salary reform fund until the end of 2024, with the remaining balance transferred to the 2025 budget arrangement of ministries, central and local agencies to implement the basic salary level of 2.34 million VND/month.

According to the resolution, the total central budget expenditure is 1,523,264 billion VND, of which: an estimate of 248,786 billion VND to supplement the budget balance (including a 2% increase in the balance compared to the 2024 state budget estimate and an increase of 917.3 billion VND for the Nghe An provincial budget to implement Resolution No. 137/2024/QH15 dated June 26, 2024 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Nghe An province), a targeted additional estimate for the local budget (including an additional amount of 14,434.4 billion VND to ensure that the estimated level of local budget balance expenditure in 2025 is not lower than the estimated local budget balance expenditure in 2023).

The National Assembly assigned the Government to direct and guide ministries, central agencies and provinces and centrally run cities to allocate state budget investment capital in a concentrated, focused and key manner, in compliance with conditions and priority order as prescribed by the Law on Public Investment, Resolutions of the National Assembly, Resolutions of the National Assembly Standing Committee; and to fully pay off outstanding debts for basic construction in accordance with the provisions of law.

The Government is also assigned to recover all remaining advanced capital that must be recovered in the Medium-Term Public Investment Plan for the period 2021 - 2025; allocate sufficient capital for projects that have been completed and handed over for use before 2025, counterpart capital for ODA projects and foreign preferential loans, state budget capital participating in PPP projects, investment preparation tasks, planning tasks, and transitional projects that must be completed in 2025. Arrange capital according to progress for important national projects, connecting projects, projects with inter-regional impacts that are meaningful in promoting rapid and sustainable socio-economic development, and transitional projects according to progress; after allocating sufficient capital for the above tasks, the remaining capital is allocated for newly started projects that have completed investment procedures in accordance with legal regulations.

Tighten financial discipline, strictly handle violations and obstacles that slow down capital allocation, implementation and disbursement; individualize the responsibility of leaders in cases of slow implementation and disbursement, and assess the level of completion of assigned tasks, the National Assembly requested.

The Resolution also clearly states that regular expenditures for economic activities will be 5,307 billion VND, equivalent to 85% of the revenue from administrative fines for road traffic safety and order that has been paid to the state budget in 2023 to the Ministry of Public Security, to be spent on ensuring traffic safety and order, and 936.5 billion VND (equivalent to 15% of the actual amount incurred in the locality) will be supplemented with a target for the local budget to support the implementation of the task of ensuring traffic safety and order in the localities.

The National Assembly also assigned the Government to direct relevant ministries and branches to urgently review the entire legal framework to submit to competent authorities for consideration and decision on amending or abolishing the special financial and income mechanisms of central agencies and units as prescribed in Resolution No. 142/2024/QH15 of the National Assembly.

After adjusting the time, the 100 billion VND road project in Quang Nam adjusted to increase capital.

The Office of the People's Committee of Quang Nam province said that Vice Chairman of the People's Committee of the province Tran Nam Hung has decided to approve the adjustment of the investment project to build the Ai Nghia Western Bypass Road in Dai Loc district.

The Ai Nghia town western bypass project is nearly 1.9 km long.

The 1.9 km long western bypass of Ai Nghia town, Dai Loc district, Quang Nam province, increased its capital from VND100 billion to VND148 billion due to land acquisition issues. Accordingly, the total investment was adjusted to VND148.4 billion after adjustment. Of which, compensation and site clearance costs were VND80.8 billion; construction costs were VND56.6 billion; project management costs were VND1.13 billion; consulting costs were VND3.19 billion; other costs were VND3.5 billion and contingency costs were VND2.9 billion.

Of which, the provincial budget is 70 billion VND and Dai Loc district budget is 78.4 billion VND. The project period approved from 2019 - 2023 was adjusted from 2019 - 2025.

Quang Nam Provincial People's Committee requests Dai Loc District People's Committee (investor) to focus on directing and developing a specific schedule to complete the work of compensation, site clearance, resettlement and urgently organize the implementation of construction, acceptance, payment, ensure disbursement of capital, handover and put the project into use, and complete the project according to the extended schedule. At the same time, be responsible for completing related documents and procedures and implementing them in accordance with the provisions of law on management of construction investment; be responsible before the law and the Provincial People's Committee during the implementation process.

It is known that the Ai Nghia Western Bypass Project, Dai Loc District was decided by the Standing Committee of the Provincial People's Council on the project investment policy in Decision No. 14/QD-HDND dated March 21, 2019, the Provincial People's Committee approved the project in Decision No. 2612/QD-UBND dated August 15, 2019, with a total approved investment of 100 billion VND, the provincial budget investment capital is 70 billion VND, Dai Loc district budget balances and arranges investment for the remaining part of the project.

The western bypass of Ai Nghia town, Dai Loc district is 1.898 km long, the starting point of the route intersects with DT609B road (Km4+500) - Hoa Dong intersection, the end point of the route intersects with DT609 road (Km16+633.55), the land use area is about 5 hectares.

The project implementation period is from 2019 to 2023, however, it cannot be completed as planned. On July 4, 2023, the People's Committee of Quang Nam province issued Official Dispatch No. 4248/UBND-KTN adjusting the implementation period from 2021 to 2025.

Proposal for the main investor of Phu Cat Airport Runway No. 2 Project

The project to build runway No. 2, connecting taxiways and other works in the airport area at Phu Cat - Binh Dinh site clearance has a total investment of about 3,013 billion VND.

The Ministry of Transport has just sent an official dispatch to the Government leaders regarding the determination of the unit in charge of investing in the Project of constructing runway No. 2, Phu Cat Airport.

Phu Cat Airport – Binh Dinh.

Accordingly, in view of the need to soon build runway No. 2 of Phu Cat Airport and in the context that the Ministry of Transport and Vietnam Airports Corporation (ACV) cannot balance capital for immediate investment in the 2021-2025 period, the Ministry of Transport supports the assignment of the People's Committee of Binh Dinh province to organize the investment in the construction of runway No. 2 and other works in the airport area.

Specifically, the Ministry of Transport proposed that the Prime Minister and Deputy Prime Minister Tran Hong Ha consider assigning the People's Committee of Binh Dinh province as the managing agency for the investment project to build runway No. 2 and synchronous works at the airport area of ​​Phu Cat Airport; complete procedures, submit to competent authorities for consideration and approval of the investment policy according to regulations.

The Ministry of Transport proposed that the use of local budget by the People's Committee of Binh Dinh province be implemented according to regulations after the Law amending and supplementing a number of articles of the Law amending and supplementing a number of articles of the Law on Securities; Law on Accounting; Law on Independent Audit; Law on State Budget; Law on Management and Use of Public Assets; Law on Tax Management; Law on National Reserves are passed by the National Assembly.

The Government assigned the Ministry of Transport, Ministry of National Defense, Ministry of Planning and Investment, and Ministry of Finance to guide and support Binh Dinh Provincial People's Committee in the implementation process according to their functions and tasks.

Previously, the Ministry of Transport had developed two investment plans to build runway number 2 of Phu Cat Airport.

Specifically, option 1 - Phu Cat Airport Enterprise organizes the investment. Because ACV is currently the Phu Cat Airport Enterprise, responsible for investing in the construction of runway 2 according to the approved plan.

However, ACV said that this unit is focusing its capital to invest in large, key projects in the aviation industry such as the Long Thanh International Airport Construction Project Phase 1; Tan Son Nhat International Airport Terminal T3 Construction Project; Noi Bai International Airport Terminal T2 Expansion Project; At the same time, ACV has been and is carrying out the task of investing in upgrading other airports such as Dien Bien, Cat Bi, Dong Hoi, Ca Mau, etc., so it cannot balance its capital to implement the Project of constructing runway No. 2, Phu Cat Airport in this period.

The second option is that the state directly invests in the project to build runway No. 2 at Phu Cat Airport.

In the case of direct State investment, the Ministry of Transport said that the law on civil aviation does not specifically stipulate the investment responsibility of the central or local budget.

Therefore, in case the Ministry of Transport organizes the implementation of the investment in the Medium-term Public Investment Plan for the period 2021-2025, the central budget allocated by the competent authority to the Ministry of Transport will be prioritized to develop key national transport projects according to the 10-year Socio-Economic Development Strategy 2021-2030 and the Resolutions of the National Assembly.

Therefore, the Ministry of Transport is currently unable to balance capital to invest in the Project at this stage.

Meanwhile, the People's Committee of Binh Dinh province is ready to allocate about 1,513 billion VND (of which about 1,008 billion VND is for site clearance) to invest in the Project right at this stage.

Regarding the proposal to support about 1,500 billion VND from the central budget, the Ministry of Planning and Investment said that currently, the competent authority has not yet issued principles, criteria, norms and announced the total expected public investment capital, so there is no basis for considering and reporting to the competent authority to support a part of the construction investment costs for the People's Committee of Binh Dinh province to carry out the investment.

However, in case the Project is approved by the competent authority for investment policy in the period 2021-2025 and the implementation period is extended to the period 2026-2030, capital will continue to be allocated according to the provisions of Clause 1, Article 52 of the Law on Public Investment (transitional projects in the list of the medium-term public investment plan of the previous period), ensuring the principles according to the provisions of Clause 2, Article 89 of the Law on Public Investment.

Regarding the regulations on the use of local budget capital to implement the Project, according to the Ministry of Finance, the amended State Budget Law is currently being submitted to the National Assembly for consideration, comments and approval at the 8th Session of the 15th National Assembly in the direction of allowing the use of development investment capital of the local budget for investment projects to build infrastructure works of the direct superior budget in the area.

Therefore, the use of local budget by the People's Committee of Binh Dinh province is implemented according to the regulations after the Law amending and supplementing a number of articles of 7 Laws under the state management function of the Ministry of Finance was passed by the National Assembly, including: Securities Law; Accounting Law; Independent Audit Law; State Budget Law; Law on Management and Use of Public Assets; Tax Management Law; Law on National Reserves.

Previously, the People's Committee of Binh Dinh province submitted a proposal to the Government and the Prime Minister to approve the investment plan for Phu Cat Airport. The planned items include the construction of runway No. 2, connecting taxiways and other works in the airport area; construction and relocation of military works to hand over land for the expansion of the civil aviation area; and construction of the civil aviation area.

In the immediate phase, it is allowed to immediately invest in the construction of runway No. 2, connecting taxiways and other works in the airport area, with a total investment of about 3,013 billion VND (compensation and site clearance value of about 1,008 billion VND), to meet the socio-economic development needs of the locality.

The People's Committee of Binh Dinh province proposed that the Government consider submitting to the National Assembly for approval a special mechanism to assign the People's Committee of Binh Dinh province to organize the investment in the construction of runway No. 2 and other works in the airport area from the budget capital managed by the province (including central support capital of about 1,500 billion VND).

Ho Chi Minh City spends an additional 830 billion VND to renovate Tham Luong - Ben Cat canal - Nuoc Len stream

On the morning of November 14, the 19th session (special session) of the Ho Chi Minh City People's Council passed a Resolution adjusting the investment policy for the Project on Infrastructure Construction and Environmental Improvement of Tham Luong - Ben Cat - Nuoc Len Canal (connecting Long An province via Cho Dem River and Binh Duong province, Dong Nai province via Saigon River).

The total investment for the project to renovate the longest canal in Ho Chi Minh City has been adjusted from VND8,200 billion to more than VND9,000 billion. Photo: Le Toan

The total initial investment capital of the project is 8,200 billion VND, of which 4,000 billion VND comes from the central budget, the rest from the Ho Chi Minh City budget. The city has adjusted the investment capital to more than 9,030 billion VND (an increase of about 830 billion VND).

The project implementation period also lasts from 2021 to 2026, instead of ending in 2025 as originally planned.

According to the explanation of the Ho Chi Minh City People's Committee, the project needs an additional 205 billion VND for compensation, support, resettlement, and site clearance. The project also has to relocate 7 high-voltage power poles, upgrade 2 500 kV lines to the prescribed elevation, and relocate and re-establish construction items in the Go Cat landfill area.

In addition, construction costs also increased by VND 917 billion due to the need to add essential infrastructure works such as: Traffic roads in the area of ​​the Vam Thuat and Nuoc Len tidal control sluice project; construction of a water intake system for fire prevention and fighting; installation of 39 new tidal gates for existing sluices, along with temporary bridges serving people's traffic at Da Han canal, Hong Ky sluice, etc.

On the contrary, some costs such as equipment costs, construction investment consulting costs, contingency costs and other costs have been adjusted down by more than VND 292 billion.

The project also increases the land use scale by nearly 3,600 m2. This land is used to arrange traffic routes and technical infrastructure along the route according to the design plan. This land is public land, managed by the State, so there are no compensation and site clearance costs.

The Tham Luong – Ben Cat – Rach Nuoc Len canal infrastructure construction and renovation project has a total route length of nearly 32km, passing through districts 12, Binh Tan, Tan Phu, Tan Binh, Go Vap, Binh Thanh, and Binh Chanh districts. It is considered the longest canal renovation project in Ho Chi Minh City.

The project started in February 2023, with items including building concrete embankments on both banks, dredging the canal bed, building 8-12 m wide roads along both sides, installing drainage, lighting, and tree systems, along with 19 drainage culverts, 12 boat docks, and 3 connecting bridges.

The project aims to help the city drain water, prevent flooding, solve pollution, and connect traffic infrastructure. The City People's Committee sees this as an infrastructure project that serves society and improves the quality of life for people. When completed and put into operation, the project will lay the foundation for the city's future socio-economic development.

Quang Nam proposes 4,000 billion VND flood prevention project

Quang Nam Provincial People's Committee said that it has just issued an official dispatch on assigning tasks to carry out procedures to prepare for the Tam Ky City Flood Control Project.

Accordingly, the Provincial People's Committee agreed to assign the Quang Nam Traffic Construction Investment Project Management Board to propose a flood prevention project for Tam Ky city, with a total estimated investment of 4,000 billion VND.

Tam Ky City (Quang Nam) was flooded after heavy rain.

The Management Board is responsible for coordinating with relevant sectors and localities to prepare project proposals in accordance with regulations, advise the Provincial People's Committee to work with sponsors to promote loan capital and submit to competent authorities for approval in accordance with regulations.

It is known that at the end of October, the Quang Nam Traffic Construction Investment Project Management Board sent a report to the province on assigning the task of carrying out the procedures to prepare the above project.

Specifically, in Resolution No. 50, Session 26, the People's Council of Quang Nam province, term X, agreed on the content of the expected medium-term public investment plan for the period 2026 - 2030.

Accordingly, the Tam Ky Flood Control Project is expected to have a medium-term plan for 2026 - 2030 from ODA loans.

In order to have a basis for coordinating work with agencies, units, and sponsors, and promptly propose the project to submit to competent authorities for approval, the management board requests the Provincial People's Committee to consider assigning the task of preparing the project proposal and investment policy for this project to the board.

Recently, many roads in Tam Ky City have been flooded every time it rains heavily, causing traffic jams and making it difficult for people to travel.

Hai Phong grants investment certificates to 12 projects, total capital of 1.8 billion USD

On the afternoon of November 14, the People's Committee of Hai Phong City held a conference to grant investment registration certificates to projects in economic zones (EZs) and industrial parks (IPs) in the city.

General Secretary To Lam, leaders of central ministries and branches, and leaders of Hai Phong City took souvenir photos with 12 investors. Photo: Thanh Son

Speaking at the Conference, Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, said: “In recent years, the socio-economic development speed of Hai Phong City has always maintained a high level of socio-economic development, with an average GRDP growth rate of over 11%/year. In the first 9 months of 2024, Hai Phong continued to achieve a GRDP growth rate of 9.77%. In particular, attracting foreign and domestic investment plays an important role, greatly affecting the socio-economic development of the City”.

Specifically, from January 2021 to present, Hai Phong City's investment attraction has reached 14.5 billion USD (97% of the investment attraction plan for the 2021-2025 term), equal to 74% of the period 1993 - 2020 (19.6 billion USD), attracting an average of 3.6 billion USD/year. Hai Phong has become a stronghold of many large investors, deeply participating in the global value chain. Notable projects are LG Group, SK Group, Vinfast Automobile Manufacturing Complex project...

At today's conference, the People's Committee of Hai Phong City granted investment registration certificates to 12 typical new and expanded investment projects in November 2024 in the Economic Zones and Economic Zones in the City with a total investment capital attracted of an additional 1.8 billion USD, with an expected labor demand in the coming years of about 17,000 people.

Accordingly, the projects with increased capital are: The expansion investment project of LG Group (Korea) in Trang Due Industrial Park, adjusted to increase by 1 billion USD, bringing the total investment capital to 5.65 billion USD. This is one of the largest investment projects of LG Group in Vietnam, specializing in the production of high-tech OLED screens with a scale of 14 million products/month. The project started investment in 2016 with a capital of 1.5 billion USD, and after 8 years of operation, it has continuously expanded its scale, increased its capital, and created jobs for more than 22,000 workers. Average export reached 5.8 billion USD/year, contributing an average of 1,000 billion VND/year to the budget.

Next is the project of investor Heesung, Korea in Trang Due Industrial Park, increasing by 125 million USD, bringing the total capital to 279 million USD. This is one of the close partners of LG Group, manufacturing and assembling automatic positioning liquid crystal module components with a scale of 10.5 million products/year, creating jobs for nearly 400 workers, with an average export of 100 million USD/year.

The infrastructure business project of the DEEP C Hai Phong Industrial Park Complex increased by 169 million USD, bringing it to 286 million USD. This is the Industrial Park Complex that has attracted large projects such as Pegatron, Vietnam Advance Film Material, Core5, Posco, Pyeonghwa Automotive... with a total capital of 5 billion USD. When the project expands, it will attract more large investors from around the world.

The project of USI Group, Taiwan (China) at DEEP C Industrial Park Complex increased from 215 million USD to 290 million USD (an increase of 75 million USD). The project produces and assembles electronic circuit boards, wearable devices, smart handheld devices, and household appliances with a scale of 260 million product sets/year, creating jobs for 1,000 workers, and exports will reach 500 million USD/year.

Project of Chinese investor Moons' Industries in VSIP Industrial Park, increased by 69 million USD, bringing it to 87 million USD. This is a project to produce precision motors, motion transmission motors, LED sources and other similar components with a capacity of 990,000 product sets/year, creating jobs for 100 workers, with expected export of about 50 million USD/year.

Vietnam Advance Film Material Project (China) at DEEP C 2A Industrial Park, increased by 60 million USD, bringing the total investment capital to 158 million USD. This project produces PV film, the supporting layer of PV panels with a scale of 155,000 tons/year, creating jobs for 231 workers, with an expected export value of 60 million USD/year.

Jeil Logistics 1 Project (Korea) in Nam Dinh Vu Industrial Park, increased from 23.67 million USD to 44.67 million USD (increased by 21 million USD). The project provides logistics and post-port logistics services with an area of ​​45,341 m2.

The newly licensed projects are the Middle Project of the joint venture of Hai Phong Port Joint Stock Company and investors Terminal Investment Limited (TIL) and MSC Group of Switzerland with a total investment capital of 156 million USD. The companies established a joint venture to exploit two international container terminals No. 3 and 4 of the Hai Phong International Gateway Port project in Lach Huyen, with an annual cargo output of 1.1 million TEUs.

Next is the project of investor Sembcorp Integrated Hub Hai Phong IV (Singapore) in Nam Dinh Vu Industrial Park with a total investment capital of 56 million USD with the goal of real estate business, area of ​​8.4 hectares.

Project of Smart Logistics Service Co., Ltd. with a total investment of 20 million USD at Hai Phong International Gateway Port Industrial Park, the project's target is logistics and post-port logistics services with an area of ​​10,000 m2, expected revenue of 100 million USD/year.

The project of investor Hoda Strategic Holdings Private (China) with a total investment capital of 10 million USD in Nam Dinh Vu Industrial Park, the project's goal is to produce international standard PVC pipe fittings with a scale of 10,000 tons/year, creating jobs for 50 workers.

Finally, the project of DAP Joint Stock Company - Vinachem 626 billion VND with the goal of in-depth investment, improving the quality of phosphoric acid and producing MAP fertilizer with a scale of 60,000 tons/year.

Yuan Long leases land in Lien Ha Thai Industrial Park to build a ceiling fan factory

On November 14, at Lien Ha Thai Industrial Park, Yuan Long Vietnam Co., Ltd. signed a land lease contract with Green i-Park Joint Stock Company, marking the first step in the 120 million USD project to build a ceiling fan factory on an area of ​​15.6 hectares.

Mr. Nguyen Minh Hung, Chairman of the Board of Directors of Green i-Park Joint Stock Company, spoke at the signing ceremony.

The project of Yuan Long Vietnam Co., Ltd. is divided into two phases. The first phase is expected to be completed and put into operation in the fourth quarter of 2025, while the second phase will be completed by the end of the fourth quarter of 2028. When put into operation, the factory will focus on producing ceiling fans and ceiling fan accessories for export to Europe and America, with a revenue of VND 3,200 billion/year, contributing to the state budget of about VND 269 billion/year and creating jobs for about 4,500 workers, contributing to promoting the socio-economic development of Thai Binh province.

Speaking at the ceremony, Mr. Nguyen Minh Hung, Chairman of the Board of Directors of Green i-Park Joint Stock Company, expressed his delight that Yuan Long Vietnam - a subsidiary of Aircool Group with nearly 50 years of experience - has chosen Lien Ha Thai to expand production. He also emphasized that the visit to Yuan Long's factory in Shenzhen (China) last August led by the Secretary of Thai Binh Provincial Party Committee helped strengthen confidence in the project's success. Here, the delegation witnessed Yuan Long's modern production system and received a commitment to establish a more advanced production line in Thai Binh.

“Yuan Long's investment project not only affirms the attraction of Lien Ha Thai Industrial Park but also vividly demonstrates the professional and favorable investment environment here, while creating a positive spillover effect to attract more potential investors in the future,” affirmed Mr. Nguyen Minh Hung.

The head of Green I-Park also committed that the investor of the Industrial Park has been and will continue to accompany investors through the completion of synchronous and modern infrastructure and active support in all legal procedures and requested the authorities of Thai Binh province to continue to create favorable conditions for the project to soon come into effective operation.

On the secondary investor side, Yuan Long Vietnam representative assessed Lien Ha Thai Industrial Park as an attractive investment destination thanks to its strong development potential, strategic location in the Northern key economic zone and modern, synchronous infrastructure. These factors help optimize operating costs, creating favorable conditions for production and logistics. In addition, Thai Binh provincial government and Lien Ha Thai investor also build an open cooperative environment, providing comprehensive support from legal procedures to infrastructure, with a professional and dedicated working style. The spirit of hospitality and desire to promote the common development of the province has created great confidence, encouraging businesses to confidently invest long-term.

Deputy Head of the Management Board of Economic Zones and Industrial Parks of Thai Binh Province, Dang Van Bac, expressed his hope that after the signing ceremony, Yuan Long Company will quickly implement procedures, construct and put the project into operation on schedule, contributing to the economic development of the Province.

At the same time, Thai Binh affirmed that it will always accompany and create the most favorable conditions for the project to develop sustainably and effectively, bringing long-term benefits to both businesses and localities.

Located in Thai Binh Economic Zone, Lien Ha Thai Industrial Park (Green iP-1) possesses many outstanding advantages in terms of traffic connection with key routes to provinces in the economic linkage and international seaports in the Northern coastal region. With synchronous and modern infrastructure investment, Lien Ha Thai fully meets the strict standards for foreign invested enterprises. With preferential policies from the Economic Zone, enterprises coming to invest, produce and do business here will reduce investment costs, improve competitiveness and develop sustainably.

Thanks to its efforts and outstanding advantages, Lien Ha Thai Industrial Park has become the destination of many large corporations from Korea, the US, China... such as Compal, Hitejinro, Greenworks, Ohsung, Lotes, Keystone, Longstar... The presence of leading enterprises not only increases the attractiveness of the Industrial Park but also creates a vibrant and diverse business environment. After more than three years of operation, the Industrial Park has attracted 28 high-tech projects with large investment capital. It is expected that when fully covered and the entire project comes into operation, Lien Ha Thai will attract about 50,000 workers, contributing significantly to the socio-economic development of Thai Binh province and neighboring areas.

Investing in 5 BOT projects in Ho Chi Minh City, businesses want the budget to participate from 50-70%

On the afternoon of November 14, the Ho Chi Minh City Department of Transport held a conference to consult investors on the Pre-Feasibility Study Report of 5 BOT projects invested under the special mechanism of Resolution 98/2023/QH15.

Informing investors, Mr. Tran Quang Lam, Director of the Ho Chi Minh City Department of Transport, said that currently, 5 projects following the special mechanism of Resolution 98 have been approved by the Ho Chi Minh City People's Council.

Mr. Le Quoc Binh, General Director of Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) proposed a mechanism to attract investors to 5 BOT projects - Photo: Le Anh

The city wants to speed up the progress of these projects, so it needs investors' opinions on financial plans to harmonize interests; toll collection plans; procedures for project establishment and approval, selection of BOT investors, etc.

One of the issues that investors are most concerned about at the conference is the capital recovery plan for investors when participating in these BOT projects.

Mr. Le Quynh Mai, Vice Chairman of Deo Ca Transport Infrastructure Investment Joint Stock Company, said that these projects need the participation of 50-70% of the State budget capital to shorten the toll collection time and ensure capital recovery for investors.

According to Mr. Mai, the capital recovery plan for 5 BOT projects in Ho Chi Minh City is about 20 years, which is reasonable. The capital recovery period should not be longer because it is not feasible with the financial plan.

Regarding toll collection, the Vice Chairman of Deo Ca said that it is better to collect fees by kilometer instead of by trip, because the toll collection method by trip often leads to disagreements on usage views. "With the current automatic toll collection, there is a complete technical basis to organize toll collection by kilometer, people pay as much as they travel," Mr. Mai proposed.

Regarding the financial plan, Mr. Le Quoc Binh, General Director of Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), said that when investors participate in a project, they need to carefully consider financial capacity and have an audit report. Investors must demonstrate their capacity and experience in raising capital, at least 50%.

According to Mr. Binh, people often protest against toll collection in BOT projects, so the State agency can change the toll collection plan. If the toll collection plan is changed, the State needs to compensate for this cost to ensure the rights of investors.

Regarding the land clearance part, most investors attending the conference proposed to separate the land clearance into a separate project to be implemented by the state. Because through investing in many BOT projects, the most difficult part is still the land clearance, which makes investors hesitant.

Mr. Le Quoc Binh suggested that construction should only begin when the project has completed 90% of site clearance, to avoid the situation where investors participating in the project have to wait for the site clearance, causing businesses to "bury" capital in the project.

“I think there should be specific sanctions when project participants fail to complete their tasks. If there are no clear regulations, who will be responsible for the costs incurred when the project is behind schedule?” Mr. Binh suggested.

To speed up the progress of the 5 BOT projects, Dr. Tran Du Lich, Chairman of the Advisory Council for the implementation of Resolution 98, said that if we want businesses to participate in investment, we cannot let the project's capital recovery cycle exceed 20 years.

He said that with the special mechanism from Resolution 98, the City should calculate a guarantee plan for winning enterprises to issue bonds for road construction. This is a solution to help enterprises reduce financial costs and not depend on bank credit capital.

If the City queues up 5 projects, starts construction in the third quarter of 2026 and waits several years for construction, then when Resolution 98 is reviewed, there will still be no results. "Of these 5 projects, whichever project can be implemented immediately, shortening the stages, design, construction... then there should be a decision to implement immediately, start construction early, do it early, do it quickly," Mr. Tran Du Lich proposed.

Answering some questions from investors, Mr. Tran Quang Lam, Director of the Ho Chi Minh City Department of Transport, said that all 5 BOT projects implemented under the mechanism of Resolution 98 have had the site clearance part separated into a separate project by the City. The site clearance part will be paid for by the City budget, and the investor will carry out the construction part.

Mr. Lam said that after the conference, the Ho Chi Minh City Department of Transport will collect opinions from businesses to complete the pre-feasibility study report with the goal of completing the report by the end of this year, or at the latest early next year. After that, the City will organize the selection of investors in the third or fourth quarter of 2025.

Urging progress of Hai Lang LNG project phase 1

On November 15, the People's Committee of Quang Tri province said it had a working session with the consortium of investors of the Hai Lang LNG project (phase 1) to implement solutions to promote project progress.

LNG Hai Lang Project (phase 1) by the consortium of investors: T&T Group (Vietnam) and Hanwha Energy Corporation - HEC, Korean Gas Corporation - Kogas, South Korea Power Corporation - Kospo (from Korea). The project was started in January 2022 in the Southeast Economic Zone of Quang Tri.

Perspective of LNG Hai Lang project.

According to the granted investment registration certificate, the total investment capital of the project is 53,668 billion dong, equivalent to 2.32 billion USD, of which the contributed capital of the investor joint venture complex to implement the project is 13,416 billion dong.

The project will build the center of LNG Hai Lang port warehouse, phase 1 receiving liquefied air -carrying ships from 170,000 to 226,000 m3, the capacity to receive 1.5 million tons of liquefied gas/year; Hai Lang Power Center, phase 1 has a power generation capacity of 1,500 MW.

According to the report of Quang Tri Economic Zone Management Board, on specific progress for each project's work, on August 30, 2024, the Investor Joint Venture shall report to the Ministry of Industry and Trade, the Office of the State Steering Committee of important national programs, works and projects, key energy industry and the provincial People's Committee on the project implementation schedule.

Accordingly, the investor joint venture is scheduled for early October 2025 to complete the establishment of the project business; November 2024 completed the approval of feasibility study reports (FS); By December 31, 2025 completed specialized agreements and relevant legal procedures and site clearance, land lease and completion of bidding for EPC, insurance, construction, construction, operation and maintenance packages; On January 1, 2026 completed the financial arrangement and organized construction of project works items; By December 31, 2026 completed the bidding to buy LNG; On April 2, 2029, completed, tested and officially put into production and business activities on December 31, 2029.

Regarding the adjustment of the project investment policy, on October 17, 2024, the Investor Joint Venture has submitted the application to adjust the investment project as prescribed. On October 18, 2024, the Department of Planning and Investment issued a written consultation to appraise the relevant departments, agencies and units.

Up to now, the departments, branches and the People's Committee of Hai Lang district have been involved, the Department of Planning and Investment is summarizing. At the meeting, the investor's joint venture has proposed the contents for the appraisal of documents related to the adjustment of investment policies and detailed construction planning of 1/500 scale to approve the approval basis including: appraisal of FS reports; written approval of environmental impact assessment reports; Written agreement on connecting power grids, written agreements on berths and lines.

Speaking at the meeting, the Standing Vice Chairman of Quang Tri People's Committee Ha Sy Dong asked the investor to soon place a representative office in Quang Tri; Continuing to coordinate with the Provincial Economic Zone Management Board and related departments, agencies and localities to promptly remove difficulties and obstacles in the process of implementing procedures for adjusting investment policies, adjusting the detailed construction planning of 1/500 scale; coordinate with the Department of Industry and Trade to study and consult the ministries and central branches in separating the separate factory, the 500 kV line connected separately in the feasibility study report to speed up the approval of the factory first, as a basis for implementing the next steps.

At the same time, Vice Chairman Ha Sy Dong also requested the investor joint venture to urgently promote partners to negotiate and sign a contract to buy and sell LNG gas to ensure the proposal of competitive electricity purchase price to soon complete the project investment procedures ...

The Standing Vice Chairman of Quang Tri Provincial People's Committee assigned the Provincial Economic Zone Management Board to coordinate with the Department of Construction to work with the Ministry of Construction and the Government Office to soon complete the appraisal and submit it to the Prime Minister for approval the local adjustment of the general planning for construction of the Southeast Economic Zone; At the same time, assigning departments, units and localities based on the functions and tasks to continue coordinating, implementing and urging and guiding the investor's joint venture to carry out the tasks assigned by the Provincial People's Committee during the project implementation process.

Binh Thuan extended the progress of 3 public investment projects

The People's Council of Binh Thuan province approved the policy of extending the time for implementing 3 projects by the Management Board of Investment Project Construction of agricultural works and rural development as the investor.

Accordingly, 3 projects include: inter -district road projects along the main canal through Ham Thuan Bac, Bac Binh and Tuy Phong districts; The investment project of sea embankments in Tuy Phong area and the water supply system project of Tan Lap commune, Ham Thuan Nam district.

Coastal erosion in Tuy Phong district (illustration)

Specifically, according to the Binh Thuan Provincial People's Committee, the investment project of sea embankments in Tuy Phong area has 3 years of implementation (from 2020 and transferred to the period 2021 - 2025). The project has a total investment of VND 74,402 billion, investment capital from the central budget reserve in 2019, the provincial budget and the central budget support the period of 2021 - 2025.

The project was completed and handed over and put into use on April 15, 2024, lasting 422 days compared to the prescribed schedule. The reason, in the process of implementing and constructing projects with construction ground, resolving project design documents. Regarding the capital source for the project so far is 53,915 billion dong, disbursed is 53,897 billion dong, the rest has not disbursed 18 million dong. The investor pledged to complete the settlement of the project by 2025 and take responsibility to the provincial People's Committee for delaying the project implementation progress.

Regarding the project of water supply system of Tan Lap commune, Ham Thuan Nam district, the implementation period of 3 years, the implementation progress from 2022 to 2024; The total project investment is VND 55,160 billion from the investment capital from the provincial budget.

The reason for the slow progress is due to the investment preparation time lasted from August 2021 - 4/2023 due to the additional procedures outside the feasibility study report. Regarding the capital allocated for the project so far is VND 37,756 billion, disbursed capital is VND 3,611 billion, the rest has not disbursed VND 34,145 billion. The investor is committed to actively coordinating with relevant units to complete and settle and put into use in 2025.

The remaining, inter -district road project along the main canal through Ham Thuan Bac district, Bac Binh and Tuy Phong has a total investment of 950,018 billion VND from the investment capital from the Government bond and the provincial budget; Project implementation time for 5 years. Compared to the prescribed schedule, the project construction time has lasted for 1 more year.

The reason is determined by the implementation process in the implementation process and supplementing a number of works items and still entangled in compensation and site clearance. The project capital for the project so far is 950,018 billion dong, disbursed is 931,023 billion dong, the remaining has not disbursed 18,995 billion dong. The investor commits that by the end of 2024, it will be put into operation, use and settlement of the project.

Ha Tinh: Selecting the contractor of Nghe Tinh Soviet Soviet Project worth VND 1,498 billion

The Management Board of the Construction Investment Project of Ha Tinh Province is conducting the selection of contractors to implement the Soviet Soviet Street project of Nghe Tinh longer than 6.6 km with a total investment of VND 1,489 billion.

Accordingly, the Soviet route Nghe Tinh extends to the east with the first point of intersection with Nguyen Cong Tru Street, Thach Quy Ward, Ha Tinh City; The end point of National Highway 15B at Km 29+00, belonging to Thach Lac commune, Thach Ha district.

Nghe Tinh Soviet Road.

According to the design, the project has a width of 70m road, 21m surface width, 10m sidewalk width and designs, width of green trees on the sides of the sidewalk 9m, the width of the median strip between 30m.
The project is invested by the Management Board of the Construction Project of Ha Tinh Province with a total investment of VND 1,498 billion, the project implementation time to 2026.

It is known that the compensation, support and resettlement are separated into a sub -project, assigned to the People's Committee of Ha Tinh City and Thach Ha District People's Committee as an investor to organize the implementation of the scope of administrative management, ensuring compliance with current law provisions.

Currently, the project has 5 bidders including Ha Tinh construction joint venture, Truong Son Construction Corporation, Vietnam Import Export and Construction Joint Stock Corporation, Nghe Tinh Soviet Joint Venture, Central Construction Group Joint Stock Company.

Soviet Nghe Tinh road investment projects are extended to ensure transportation and transportation needs in the area. At the same time, promoting the development of socio -economic development, especially the economic development of the coastal area of ​​Thach Ha district, creating conditions to attract strategic investors to implement projects in the area.

It is expected that the Soviet Nghe Tinh road project will be started at the end of this year and completed in 2026.

Additional VND 800 billion from the central budget reserve to build a new Phong Chau bridge

Permanent Deputy Prime Minister Nguyen Hoa Binh signed Decision No. 1389/QD-TTg dated November 15, 2024 supplementing capital from the central budget reserve in 2024 to the Ministry of Transport to implement the new Phong Chau Bridge Construction Project on Highway 32C, Phu Tho Province.

Specifically, adding VND 800 billion from the central budget reserve in 2024 to the Ministry of Transport to implement the new Phong Chau Bridge Construction Project on Highway 32C, Phu Tho Province.

The Deputy Prime Minister requested that the capital level was assigned above, the Minister of Transport allocated capital supplemented from the central budget reserve in 2024 for the project, ensuring in accordance with the provisions of the State Budget Law and relevant law provisions.

At the same time, the Minister of Transport shall direct relevant agencies and units to urgently complete the investment procedures and assign capital plans in accordance with the provisions of the Law on Public Investment and the relevant specialized laws; Responsible for directing agencies and relevant units to use the central budget reserve capital in 2024 assigned to ensure efficiency and quality for the right purpose and the right subjects; implement the project in accordance with the law; Do not cause loss, waste, corruption, negative.

The Deputy Prime Minister requested the Minister of Transport to direct, inspect and urge to accelerate the implementation progress, ensuring the latest until December 31, 2025 to complete the project; Responsible for the head of the project disbursement results and the progress of the project.

To be comprehensively responsible to the Government, the Prime Minister and relevant agencies for the content, reporting data and proposals, ensuring the compliance with the provisions of the State budget law, public investment and relevant law provisions.

The Ministry of Planning and Investment and the Ministry of Finance according to the functions and tasks are responsible for the contents, reports and proposals; monitor and guide the Ministry of Transport to organize the implementation and disburse the capital supplemented from the central budget reserve in 2024; In case of detecting the allocation and use of the wrong subjects of the State Budget Law, improperly implementing the provisions of law, and reporting to the Prime Minister recovering the central budget and reviewing the responsibilities of the heads, organizations and individuals related.

The time for implementation and disbursement of the central budget reserve in 2024 was supplemented by December 31, 2025 in accordance with the law; In case of not being used up, the remaining 2024 central budget reserve capital will cancel the estimate.

Source: https://baodautu.vn/dong-tho-nha-may-ton-thep-45-trieu-usd-bo-sung-Sung-800-ty-dong-de-xay-dung-cau-phong-chau-moi-d230177.html