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

Groundbreaking ceremony for a $45 million steel sheet factory; an additional 800 billion VND allocated for the construction of the new Phong Chau bridge.

Hai Phong : Groundbreaking ceremony for the $45 million Viet Phap steel sheet factory; An additional 800 billion VND from the central government's contingency budget to build the new Phong Chau bridge…

Those are two of the most noteworthy investment news stories from the past week.

Hai Phong: Groundbreaking ceremony for the $45 million Viet Phap steel sheet manufacturing plant.

On the morning of November 12th, the groundbreaking ceremony for the construction of the Vietnam-France Steel Sheet Manufacturing Plant No. 2, with a total investment of 45 million USD, was held at the Nam Dinh Vu Industrial Park, Hai Phong City.

The Nam Dinh Vu Industrial Park boasts superior transportation advantages, being located near a major seaport, which helps shorten shipping times, optimize logistics costs, and increase the competitiveness of Vietnamese products when reaching international partners. Photo: Thanh Son

The factory covers a total area of ​​75,000 m2, with a total investment of nearly 45 million USD for phase 1; it has a production capacity of up to 350,000 tons of steel sheet products per year. The project is invested by Vietnam-France Steel Sheet Joint Stock Company and constructed by Hai Long Construction and Installation Joint Stock Company.

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

Located in the Nam Dinh Vu Industrial Park, the factory boasts superior transportation advantages, being close to major seaports and national connecting routes. This helps shorten shipping times, 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 Viet Phap Steel Joint Stock Company on its achievements in recent times. Viet Phap Steel chose the Nam Dinh Vu Industrial Park of Sao Do Group, an industrial park with good infrastructure connections, excellent electricity and other facilities, and close proximity to the port. Hai Phong City and the Management Board are committed to supporting and creating the most favorable conditions for businesses to operate and develop their production and business activities with the best results and satisfaction.

The Head of the Hai Phong Economic Zone Management Board requested the investor and contractor to focus human and material resources to bring the project into operation as quickly and efficiently as possible, ensuring safety during construction. The Hai Phong Economic Zone Management Board will provide support and resolve difficulties during implementation to ensure the project becomes operational soon.

Further information at the groundbreaking ceremony, Mr. Le Trung Kien stated: Hai Phong is planning to establish a new coastal economic zone in the South of Hai Phong with an area of ​​approximately 20,000 hectares – a 3.0 generation ecological economic zone, multi-sector, focusing on high-tech industries, seaports, modern logistics, and smart cities, serving as a hub for the city to participate in regional and global value and supply chains. In particular, Hai Phong proposes the establishment of a free trade zone with many specific mechanisms and policies, promising to create a large, dynamic, attractive, and potentially lucrative development space for the city.

On behalf of the main contractor, Mr. Pham Anh Tien, Chairman of Hai Long Construction Joint Stock Company, stated: "With our capabilities and experience, we will successfully complete this project according to the quality and schedule as committed to the investor, Viet Phap Steel and Sheet Metal Joint Stock Company."

Proposal to allocate 500 billion VND for the renovation and upgrading of National Highway 14D.

Quang Nam province has proposed that the central government consider allocating approximately 500 billion VND more for the National Highway 14D renovation and upgrading project in 2025.

The People's Committee of Quang Nam province has recently submitted a document to the Ministry of Planning and Investment proposing that the competent authorities consider continuing to allocate funds for the National Highway 14D Renovation and Upgrade Project in 2025 (approximately 500 billion VND).

According to the Quang Nam Provincial People's Committee, National Highway 14D, 74.4 km long, connecting the Ho Chi Minh Highway with the Nam Giang International Border Gate in 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 Central region's dynamic economic zone with Northeast Thailand and Southern Laos, and is the only route to the high mountainous and western border areas of Quang Nam province.

From July 2023 to the present, the volume of heavy trucks transporting goods from Laos to Vietnam through the Nam Giang international border gate has increased significantly (approximately 250 trips/day and night, and currently around 500 trips/day and night), causing the road to deteriorate even more severely.

Following the Prime Minister's directive on studying investment in a road connecting the Nam Giang border gate to the Quang Nam seaport, as stated in Notice No. 135/TB-VPCP dated May 6, 2022, and Notice No. 165/TB-VPCP dated June 6, 2022, from the Government Office; the Ministry of Transport and the People's Committee of Quang Nam province have surveyed and studied investment and construction options.

The results of the investment plan study were reported by the Quang Nam Provincial People's Committee to the Prime Minister and relevant ministries and central agencies in Report No. 232/BCUBND dated October 6, 2023.

After reviewing the reports of the Ministry of Transport in documents No. 12857/BGTVT-KHĐT dated November 13, 2023, No. 380/BGTVT-KHĐT dated January 11, 2024, and 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 a plan to renovate and upgrade National Highway 14D and assigned the Ministry of Transport to take the lead, in coordination 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 funding for the project as stated in Official Letters No. 9927/VPCP-CN dated December 20, 2023, and No. 798/VPCP-CN dated February 1, 2024, from the Government Office.

The Ministry of Transport issued Official Letter No. 3307/BGTVT-KHĐT dated March 28, 2024, requesting the Ministry of Planning and Investment to compile and report to the Prime Minister and the Standing Committee of the National Assembly to add the Project for the Renovation and Upgrading of National Highway 14D to the medium-term public investment plan (2021-2025) with a budget of 4.6 billion VND to carry out investment preparation work. However, to date, the funding has not been allocated, so the investment preparation phase cannot be implemented.

To ensure traffic safety on National Highway 14D and maximize the investment efficiency of the Project to renovate and upgrade National Highway 14E (connecting from Nam Giang International Border Gate, following National Highway 14D, Ho Chi Minh Highway, and 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 submission to the Standing Committee of the National Assembly for review and adjustment of the medium-term public investment plan, 2021-2025 period, and to 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 Project to renovate and upgrade National Highway 14D, in order to promptly submit it for appraisal and approval as requested by the Ministry of Transport in Official Letter No. 3307/BGTVT-KHĐT dated March 28, 2024.

The People's Committee of Quang Nam province also requested the Central Government to consider and continue allocating funds for the Project to renovate and upgrade National Highway 14D in 2025 (approximately 500 billion VND) to continue implementing and completing investment preparation work and organizing bidding to select a construction unit, so that construction can start early in 2025.

Removing the final hurdle in the adjustment of Hanoi Metro Line 2.

The four-year-long process of adjusting the investment policy for the Hanoi urban railway project, Line 2, the section from Nam Thang Long to Tran Hung Dao, is nearing completion, paving the way for the implementation phase.

After approximately two months of review, last week, the Ministry of Planning and Investment sent Official Letter No. 9173/BKHĐT-GSTĐĐT to the Government leaders clarifying the final remaining issues related to the dossier for 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).

Illustrative image

This document was issued by the Ministry of Planning and Investment after reviewing existing regulations and synthesizing opinions from the Ministry of Justice, the Hanoi People's Committee, and other relevant ministries and agencies.

The Nam Thang Long – Tran Hung Dao metro project received investment approval from the Prime Minister in January 2008. In October 2020, the Hanoi People's Committee submitted a proposal to the Prime Minister for consideration to adjust the investment policy. After four years of completing the necessary procedures, in early August 2024, the Hanoi People's Committee submitted Proposal No. 275/TTr-UBND requesting the Prime Minister to consider and decide on adjusting the investment policy for the project.

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 adjusting the investment policy of the Project, clarifying the legal basis and authority to decide on the adjustment of the investment policy; the authority to allow the allocation of capital over three periods of the medium-term public investment plan for the Project; the necessity, legal basis, timing, and procedures for reporting to the Standing Committee of the National Assembly.

"Based on the opinion of the Ministry of Justice, the Ministry of Planning and Investment will take the lead, in coordination with the Hanoi People's Committee and relevant agencies, to review and compile a report to the Prime Minister on adjusting the investment policy for the Project," Deputy Prime Minister Bui Thanh Son directed.

These are reportedly the final three obstacles to completing the four-year-long process of adjusting the investment policy for this project.

In Official Letter No. 9173/BKHĐT-GSTĐĐT, the Ministry of Planning and Investment stated that, according to the provisions of the 2019 Law on Public Investment, the Project, before the adjustment, was a Group A project, which had been included in the List of Projects using Japanese Government loans by the Prime Minister in August 2007 and received investment approval in January 2008. "Therefore, the adjustment of the investment policy for the Project falls under the authority of the Prime Minister," the Ministry of Planning and Investment stated.

Regarding the timing 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's investment policy is adjusted and approved, the Hanoi People's Committee will report to the Government to seek the opinion of the National Assembly Standing Committee on this matter.

Regarding the allocation of capital across three medium-term public investment plans, the Ministry of Planning and Investment stated that the Law on Public Investment stipulates that the ability to balance capital sources can only be achieved according to the 5-year medium-term public investment plan, with the portion carried over to the next phase not exceeding 20% ​​of the previous phase's public investment plan.

The project is expected to last 15 years, spanning three medium-term public investment planning periods, but there are no regulations yet on how to balance funding for the third phase.

However, according to Clause 3, Article 104 of Decree No. 29/2021/ND-CP on the procedures for appraising nationally important projects and monitoring and evaluating investments, if a project undergoing implementation undergoes changes that result in it meeting the criteria for a nationally important project, then the project may continue to implement the project contents that have been approved by the competent authority.

The procedures for adjusting the investment policy and project adjustments shall be carried out in accordance with the laws in force at the time of adjustment, as was the case with the project or group of projects before the adjustment; the investment decision-maker shall report to the Prime Minister for consideration and guidance, and report to the National Assembly at the year-end session on the project implementation status, including any issues arising from criteria classifying the project as nationally important.

"Based on that, in Submission No. 275/TTr-UBND dated August 12, 2024, the Hanoi People's Committee proposed reporting to the Prime Minister to allow the implementation and reporting this content when reporting to the National Assembly on the project's implementation status at the year-end session as stipulated in Article 104 of Decree No. 29/2021/ND-CP," a leader of the Ministry of Planning and Investment stated.

Adjusting Phase 1 of the Long Thanh Airport Project: Essentially, it's about accelerating progress .

On the morning of November 13th, the National Assembly held group discussions on adjusting the investment policy for the Long Thanh International Airport Project. The delegates unanimously agreed on the principle of adding another runway in phase 1 of the project.  

On the morning of November 13th, the National Assembly held group discussions on adjusting the investment policy for the Long Thanh International Airport Project.

Previously, the Government's submission regarding the adjustment of the investment policy for the Long Thanh International Airport Project proposed that the National Assembly consider adjusting the scale and implementation time of Phase 1 of the project in the following direction: adding an additional runway (Runway No. 3) and extending the completion deadline to the end of 2026 instead of the end of 2025 as currently stated.

Speaking at the group discussion this morning, National Assembly deputies unanimously expressed their agreement with the Government's proposal.

Representative Nguyen Phuong Thuy (Hanoi) believes that adjusting the project as presented in the Government's proposal is necessary. However, she argues that the project has been submitted to the National Assembly for adjustment many times (every 1-2 years), and the need to repeatedly present it to the National Assembly for opinions and decisions on specific details has led to prolonged project timelines. Therefore, when amending the Law on Public Investment in the future, according to the decentralization and delegation of power, the Government should be given more flexibility in making decisions.

Representative Huynh Thanh Chung (Binh Phuoc) also argued that adding another runway in phase 1 is essential for socio-economic development, as well as ensuring safety and continuous operation (when one runway is under maintenance, another will be operational). The funding plan has also been carefully calculated and will not affect the total investment.

However, delegates suggested that the Ministry of Transport and the Airports Corporation of Vietnam (ACV) should consider contingency funds. Accordingly, the funds for constructing the additional runway will partly come from the contingency fund. Therefore, if during the implementation of the approved items, there are changes in scale, technology, etc., there will no longer be contingency funds available to address the issue.

Representative Huynh Thanh Chung suggested that the draft resolution should clearly state the priority of maximizing the use of contingency 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, which are designed to meet international standards and can handle simultaneous takeoffs and landings.

Currently, Noi Bai and Tan Son Nhat international airports have two runways, but the distance between them is not large enough, making simultaneous takeoffs and landings impossible. This results in waiting times, sometimes lasting 5-10 minutes, causing inefficiency.

A practical review shows that Phase 1 of the Long Thanh airport project is suitable for the construction of Runway 3. Delaying the construction until Phase 3, as currently planned, would affect operations, cause noise pollution, and compromise safety for Runway 1 during operation. Furthermore, the funding has been carefully calculated (using savings from other contract packages and contingency funds).

"While it sounds complicated to say we're adjusting the project, in reality, it's about accelerating the project's progress. We hope the National Assembly will acknowledge the government's efforts," the Minister said.

Expanding the scope of discussion regarding adjustments to the Long Thanh airport project, delegate Huynh Thanh Chung (Binh Phuoc) suggested that the Ministry of Transport and ACV should carefully study the internal transportation plan of Long Thanh airport to ensure connectivity with other terminals.

“If the internal planning of Long Thanh Airport lacks internal transportation routes to other terminals, requiring passengers to check out before moving to other terminals, it will cause inconvenience for customers and deprive Vietnam of its competitive advantage. I propose that the Ministry of Transport and ACV study the addition of tram and bus routes connecting Long Thanh International Terminal with the railway station and other terminals, based on security control mechanisms. Only then will Long Thanh Airport become a regional passenger transit hub,” suggested delegate Huynh Thanh Chung.

Strictly handle cases of violations and obstructions that delay the disbursement of funds.

On the afternoon of November 13th, with all 432 attending delegates unanimously agreeing, the National Assembly passed a Resolution on the central government budget allocation plan for 2025.

The resolution states that the total central government revenue is 1,020,164 billion VND. The total local government revenue is 946,675 billion VND.

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

The National Assembly decided to use 60,000 billion VND from the central budget's accumulated funds for salary reform and 50,619 billion VND from the local budget's salary reform funds remaining until the end of 2024 to allocate to the 2025 budget of ministries, central agencies, and localities to implement a basic salary of 2.34 million VND/month.

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

The National Assembly directs the Government to instruct and guide ministries, central agencies, and provinces and centrally-administered cities to allocate state budget investment capital in a focused, targeted, and prioritized manner, adhering to the conditions and order of priority as stipulated in the Law on Public Investment, resolutions of the National Assembly, and resolutions of the Standing Committee of the National Assembly; and to fully settle outstanding debts for basic construction projects in accordance with the law.

The government is also tasked with recovering all remaining advance capital under the medium-term public investment plan for the period 2021-2025; allocating sufficient capital for projects completed and put into use before 2025, counterpart funds for ODA projects and preferential foreign loans, state budget funds participating in PPP projects, investment preparation tasks, planning tasks, and transitional projects to be completed in 2025. Capital will be allocated according to the progress of nationally important projects, projects connecting and having inter-regional impacts that are significant in promoting rapid and sustainable socio-economic development, and transitional projects according to schedule. After allocating sufficient capital for the above-mentioned tasks, the remaining capital will be allocated to new projects that have completed the investment procedures as prescribed by law.

The National Assembly demanded that financial discipline be tightened, and serious action be taken against cases of violations that hinder or delay the allocation, implementation, and disbursement of funds. Individualized accountability for heads of departments in cases of slow implementation and disbursement should be linked to the assessment of their assigned task completion levels.

The resolution also stipulates that 5,307 billion VND (equivalent to 85% of the revenue from administrative fines for road traffic safety violations actually paid to the state budget in 2023) will be allocated to the Ministry of Public Security for the purpose of ensuring traffic safety, and 936.5 billion VND (equivalent to 15% of the actual revenue generated in the localities) will be added to the local budgets to support the implementation of traffic safety tasks in the localities.

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

Following timeline adjustments, the 100 billion VND road project in Quang Nam province has seen an increase in funding.

The Quang Nam Provincial People's Committee Office announced that Vice Chairman Tran Nam Hung has approved the adjustment of the investment project for the construction of the Ai Nghia West Bypass Road in Dai Loc District.

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

The 1.9 km western bypass road around Ai Nghia town, Dai Loc district, Quang Nam province, saw its budget increase from 100 billion VND to 148 billion VND due to land acquisition issues. Accordingly, the total investment was adjusted to 148.4 billion VND. This includes 80.8 billion VND for compensation and land clearance; 56.6 billion VND for construction; 1.13 billion VND for project management; 3.19 billion VND for consulting fees; 3.5 billion VND for other expenses; and 2.9 billion VND for contingency funds.

Of this, the provincial budget contributed 70 billion VND and the Dai Loc district budget contributed 78.4 billion VND. The project's approved timeframe from 2019 to 2023 was adjusted to 2019 to 2025.

The People's Committee of Quang Nam province requests the People's Committee of Dai Loc district (the investor) to focus on directing and developing a specific progress plan to complete compensation, land clearance, and resettlement work, and to promptly organize the implementation of construction, acceptance, payment, ensuring the disbursement of funds, handover of the project for use, and completion of the project according to the extended schedule. At the same time, the investor is responsible for completing all relevant documents and procedures and implementing the project in accordance with the law on investment and construction management; and is accountable to the law and the People's Committee of the province during the implementation process.

It is known that the Ai Nghia Western Bypass project in Dai Loc district received investment approval from the Standing Committee of the Provincial People's Council in Decision No. 14/QD-HĐND dated March 21, 2019, and was approved by the Provincial People's Committee in Decision No. 2612/QD-UBND dated August 15, 2019, with a total approved investment of 100 billion VND, of which 70 billion VND comes from the provincial budget, and the remaining portion is allocated from the Dai Loc district budget.

The western bypass road of Ai Nghia town, Dai Loc district, has a length of 1.898 km. The starting point intersects with the DT609B road (Km4+500) – Hoa Dong intersection, and the end point intersects with the DT609 road (Km16+633.55). The land area used is approximately 5 hectares.

The project was originally scheduled to be implemented from 2019 to 2023; however, it could not be completed as planned. On July 4, 2023, the People's Committee of Quang Nam province issued Official Letter No. 4248/UBND-KTN adjusting the implementation period to 2021-2025.

Proposal for the lead agency to manage investment in the Phu Cat Airport Runway No. 2 Project.

The project to construct runway number 2, connecting taxiways, and other airfield facilities in the Phu Cat - Binh Dinh area has a total investment of approximately 3,013 billion VND.

The Ministry of Transport has recently sent a document to the Government leaders regarding the identification of the managing entity for the investment in the construction of runway number 2 at Phu Cat Airport.

Phu Cat Airport – Binh Dinh Province.

Accordingly, given the urgent need to construct the second runway at Phu Cat Airport and the fact that the Ministry of Transport and the Airports Corporation of Vietnam (ACV) are unable to allocate funds for immediate investment during the 2021-2025 period, the Ministry of Transport supports assigning the People's Committee of Binh Dinh province to organize the investment and construction of the second runway and other facilities in the airfield 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 related facilities in the airfield of Phu Cat Airport; completing the procedures and submitting them to the competent authority for consideration and approval of the investment policy in accordance with regulations.

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

The Government assigns the Ministry of Transport, the Ministry of National Defence, the Ministry of Planning and Investment, and the Ministry of Finance, according to their functions and duties, to guide and support the People's Committee of Binh Dinh province in the implementation process.

Previously, the Ministry of Transport had developed two investment options for the construction of the second runway at Phu Cat Airport.

Specifically, Option 1 – Phu Cat Airport Enterprise will organize and implement the investment. Since ACV is currently the Phu Cat Airport Enterprise, it is responsible for investing in and constructing runway number 2 according to the approved plan.

However, ACV stated that it is focusing its capital on investing in major, key aviation projects such as the Long Thanh International Airport construction project (Phase 1); the Tan Son Nhat International Airport Terminal 3 construction project; the Noi Bai International Airport Terminal 2 expansion project; and ACV has been and is currently investing in upgrading other airports such as Dien Bien, Cat Bi, Dong Hoi, and Ca Mau… Therefore, it cannot balance the capital to implement the construction of the second runway at Phu Cat Airport at this time.

The second option is for the state to directly invest in the construction of the second runway at Phu Cat Airport.

Regarding cases where the State directly invests, the Ministry of Transport stated that the law on civil aviation does not specifically stipulate the investment responsibility of the central or local budgets.

Therefore, in the case of the Ministry of Transport implementing the medium-term public investment plan for the period 2021-2025, the central government budget allocated to the Ministry of Transport by competent authorities should prioritize the development of key national transport projects in accordance with the 10-year socio-economic development strategy 2021-2030 and the Resolutions of the National Assembly.

Therefore, the Ministry of Transport currently lacks the funds to invest in the project at this stage.

Meanwhile, the People's Committee of Binh Dinh province has prepared to allocate approximately 1,513 billion VND (of which about 1,008 billion VND is for land clearance) to invest in the project right now.

Regarding the proposal for approximately 1,500 billion VND in support from the central budget, the Ministry of Planning and Investment stated that currently, the competent authorities have not yet issued principles, criteria, norms, and announced the total amount of projected public investment capital. Therefore, there is no basis for considering and reporting to the competent authorities to provide partial funding for the construction investment to the People's Committee of Binh Dinh province.

However, in cases where the project receives investment approval from the competent authority during the 2021-2025 period and extends its implementation to the 2026-2030 period, it will continue to be allocated capital in accordance with Clause 1, Article 52 of the Law on Public Investment (transitional projects included in the list of the previous medium-term public investment plan), ensuring compliance with the principles stipulated in Clause 2, Article 89 of the Law on Public Investment.

Regarding regulations on the use of local budget funds to implement the Project, according to the Ministry of Finance, the revised State Budget Law is currently being submitted to the National Assembly for consideration and approval at the 8th Session of the 15th National Assembly. This amendment allows the use of development investment funds from the local budget for infrastructure construction projects funded by the higher-level budget within the locality.

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

Previously, the People's Committee of Binh Dinh province submitted a proposal to the Government and the Prime Minister requesting approval of the investment plan for Phu Cat Airport. The planned projects include the construction of a second runway, connecting taxiways, and other facilities within the airfield; the relocation of military facilities to free up land for the expansion of the civil aviation area; and the construction of the civil aviation area itself.

In the immediate future, investment will be allowed to proceed with the construction of the second runway, connecting taxiways, and other facilities within the airfield, with a total investment of approximately 3,013 billion VND (including approximately 1,008 billion VND for compensation and land clearance), in order to meet the socio-economic development needs of the locality.

The People's Committee of Binh Dinh province has requested the Government to consider submitting to the National Assembly a special mechanism to entrust the People's Committee of Binh Dinh province with the responsibility of organizing the investment and construction of runway No. 2 and other facilities in the airfield area using provincial budget funds (including approximately 1,500 billion VND in central government support).

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

On the morning of November 14th, the 19th session (special session) of the Ho Chi Minh City People's Council approved a Resolution adjusting the investment policy for the Project to build infrastructure and improve the environment of the Tham Luong - Ben Cat - Nuoc Len canal (connecting Long An province via the Cho Dem river and Binh Duong and Dong Nai provinces via the Saigon river).

The total investment for the renovation project of Ho Chi Minh City's longest canal has been adjusted from 8,200 billion VND to over 9,000 billion VND. Photo: Le Toan

The initial investment capital for the project was 8,200 billion VND, of which 4,000 billion VND came from the central government budget, and the remainder from the Ho Chi Minh City budget. The city has adjusted the investment capital upwards to over 9,030 billion VND (an increase of approximately 830 billion VND).

The project's implementation period has also been extended from 2021 to 2026, instead of ending in 2025 as originally planned.

According to the Ho Chi Minh City People's Committee, the project requires an additional 205 billion VND for compensation, support, resettlement, and land clearance. The project also involves relocating 7 high-voltage power poles, upgrading 2 500 kV power lines to the required elevation, and relocating and restoring structures within the Go Cat landfill area.

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

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

The project also increased the land use area by nearly 3,600 m2. This land will be used to allocate roads and technical infrastructure along the entire route, in accordance with the design plan. This land is public land, managed by the State, so no compensation or land clearance costs will be incurred.

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

The project commenced in February 2023, with components including the construction of concrete embankments on both banks, dredging of the canal bed, construction of 8-12 meter wide roads along both sides, installation of drainage systems, lighting, landscaping, along with 19 drainage culverts, 12 boat docks, and 3 connecting bridges.

The project aims to improve drainage, flood control, pollution control, and transportation infrastructure connectivity in the city. The City People's Committee recognizes this as a socially beneficial infrastructure project that enhances the quality of life for its citizens. Upon completion and operation, the project will lay the foundation for the city's future socio-economic development.

Quang Nam province proposes a 4,000 billion VND flood control project.

The People's Committee of Quang Nam province announced that it has issued a document assigning the task of preparing the procedures for the Tam Ky City flood control project.

Accordingly, the Provincial People's Committee agreed to assign the Quang Nam Provincial Project Management Board for Investment and Construction of Transportation Works to develop a proposal for a flood control project in Tam Ky city, with a total estimated investment of 4,000 billion VND.

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

The management board is responsible for coordinating with relevant departments and localities to prepare project proposals in accordance with regulations, advising the Provincial People's Committee to work with donors to facilitate loan funding, and submitting them to the competent authority for approval as prescribed.

Reportedly, at the end of October, the Quang Nam Provincial Project Management Board for Investment and Construction of Transportation Works submitted a proposal to the province requesting the assignment of tasks to carry out the procedures for preparing the project.

Specifically, in Resolution No. 50, 26th session, the Quang Nam Provincial People's Council, 10th term, unanimously agreed on the content of the projected medium-term public investment plan for the period 2026 – 2030.

Accordingly, the Tam Ky flood control project is planned for the medium term of 2026-2030, funded by ODA loans.

In order to facilitate coordination with relevant agencies, units, and sponsors, and to promptly submit project proposals for approval by competent authorities, the management board requests the Provincial People's Committee to consider assigning the board the task of preparing the project proposal and investment policy for this project.

Recently, many roads in Tam Ky City have been flooded whenever there is heavy rain, causing traffic congestion and making it difficult for people to travel.

Hai Phong grants investment certificates to 12 projects with a total capital of 1.8 billion USD.

On the afternoon of November 14th, the People's Committee of Hai Phong City held a conference to award investment registration certificates to projects in economic zones and industrial parks within the city.

General Secretary To Lam, along with leaders of central ministries and agencies, and leaders of Hai Phong City, pose for a commemorative photo 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 rate of Hai Phong City has consistently maintained a high level, with average GRDP growth always exceeding 11% per year. In the first nine months of 2024, Hai Phong continued to achieve a GRDP growth rate of 9.77%. In particular, attracting foreign and domestic investment has played a significant role and had a major impact on the socio-economic development of the city.”

Specifically, from January 2021 to the present, Hai Phong City has attracted $14.5 billion in investment (reaching 97% of the investment attraction plan for the 2021-2025 term), equivalent to 74% of the 1993-2020 period ($19.6 billion), averaging $3.6 billion per year. Hai Phong has become a hub for many large investors, deeply involved in global value chains. Notable projects include those of LG Group, SK Group, and the Vinfast automobile manufacturing complex…

At today's conference, the People's Committee of Hai Phong City awarded investment registration certificates to 12 outstanding new and expanded investment projects in November 2024 within the city's economic zones and parks, attracting a total additional investment capital of 1.8 billion USD and creating an estimated labor demand of around 17,000 people in the coming years.

Accordingly, the projects with increased capital adjustments are as follows: The expansion investment project of LG Group (South Korea) at Trang Due Industrial Park, with an additional increase of 1 billion USD, raising the total investment to 5.65 billion USD. This is one of LG Group's largest investment projects in Vietnam, specializing in the production of high-tech OLED screens with a capacity of 14 million products per month. The project started investment in 2016 with 1.5 billion USD, and after 8 years of operation, it has continuously expanded its scale, increased capital, and created jobs for more than 22,000 workers. Average exports reach 5.8 billion USD per year, and average tax contributions to the state budget are 1,000 billion VND per year.

Next is the project by South Korean investor Heesung at Trang Due Industrial Park, which has increased its investment by $125 million, bringing the total capital to $279 million. Heesung is one of LG Group's close partners, manufacturing and assembling automated liquid crystal display (LCD) module components with a production capacity of 10.5 million products per year, creating jobs for nearly 400 workers, and achieving average exports of $100 million per year.

The infrastructure development project for the DEEP C Industrial Park Complex in Hai Phong has increased its investment by $169 million, bringing the total to $286 million. This industrial park complex has already attracted major projects such as Pegatron, Vietnam Advance Film Material, Core5, Posco, and Pyeonghwa Automotive, with a total investment of $5 billion. The expansion of this project is expected to attract even more large global investors.

The USI Group's project in the DEEP C Industrial Park, Taiwan (China), has increased from US$215 million to US$290 million (an increase of US$75 million). The project involves the manufacturing and assembly of electronic circuit boards, wearable devices, smart handheld devices, and consumer goods, with a production capacity of 260 million units per year, creating jobs for 1,000 workers, and generating US$500 million in exports annually.

The project by Chinese investor Moons' Industries in VSIP Industrial Park has increased its investment by $69 million, bringing the total to $87 million. This project will manufacture precision motors, transmission motors, LED power supplies, and other similar components, with a production capacity of 990,000 units per year, creating jobs for 100 workers and generating expected exports of approximately $50 million per year.

The Vietnam Advance Film Material (China) project at DEEP C 2A Industrial Park has increased its investment by $60 million, bringing the total investment to $158 million. This project produces photovoltaic (PV) film, the backing layer for photovoltaic panels, with a production capacity of 155,000 tons per year, creating jobs for 231 workers and generating projected exports of $60 million per year.

The Jeil Logistics 1 project (South Korea) in Nam Dinh Vu Industrial Park increased its investment from US$23.67 million to US$44.67 million (an increase of US$21 million). The project provides logistics and post-port supply services with an area of ​​45,341 m2.

The newly approved projects include a joint venture between Hai Phong Port Joint Stock Company and investors Terminal Investment Limited (TIL) and MSC Group of Switzerland, with a total investment capital of US$156 million. The companies established the joint venture to operate international container berths No. 3 and 4 of the Hai Phong International Gateway Port project at Lach Huyen, with a cargo handling capacity of 1.1 million TEU/year.

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

Smart Logistics Service Co., Ltd.'s project, with a total investment of $20 million, is located in the Hai Phong International Gateway Port Industrial Park. The project aims to provide logistics and post-port support services across an area of ​​10,000 m2, with projected annual revenue of $100 million.

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

Finally, there is the 626 billion VND project of DAP – Vinachem Joint Stock Company, aiming to invest in advanced technology, improve the quality of phosphoric acid, and produce MAP fertilizer on a scale of 60,000 tons/year.

Yuan Long leased land in Lien Ha Thai Industrial Park to build a ceiling fan manufacturing plant.

On November 14th, 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 a $120 million project to build a ceiling fan manufacturing plant on an area of ​​15.6 hectares.

Mr. Nguyen Minh Hung, Chairman of the Board of Directors of Green i-Park Joint Stock Company, delivered a speech 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 operational by the fourth quarter of 2025, while the second phase will be completed by the end of the fourth quarter of 2028. Once operational, the factory will focus on producing ceiling fans and ceiling fan components for export to Europe and America, generating revenue of VND 3,200 billion per year, contributing approximately VND 269 billion per year to the state budget, and creating jobs for about 4,500 workers, thus contributing to 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 – had chosen Lien Ha Thai to expand its production. He also emphasized that the visit to Yuan Long's factory in Shenzhen (China) last August, led by the Secretary of the Thai Binh Provincial Party Committee, helped strengthen confidence in the project's success. During the visit, the delegation witnessed Yuan Long's modern production system and received a commitment to establishing an even more advanced production line in Thai Binh.

“Yuan Long’s investment project not only affirms the attractiveness of Lien Ha Thai Industrial Park but also serves as vivid evidence of the professional and favorable investment environment here, while creating a positive ripple effect to attract more potential investors in the future,” Mr. Nguyen Minh Hung affirmed.

The head of Green I-Park also pledged that the industrial park's developer has been, is, and will continue to support investors by completing a comprehensive and modern infrastructure and actively assisting in all legal procedures. He also requested that the authorities of Thai Binh province continue to create favorable conditions for the project to operate effectively as soon as possible.

From the perspective of secondary investors, representatives from Yuan Long Vietnam assessed Lien Ha Thai Industrial Park as an attractive investment destination due to its strong development potential, strategic location within the key economic zone of Northern Vietnam, and modern, integrated infrastructure. These factors optimize operating costs and create favorable conditions for production and logistics. Furthermore, the Thai Binh provincial government and the Lien Ha Thai investor have fostered an open and cooperative environment, providing comprehensive support from legal procedures to infrastructure, with a professional and dedicated work style. The province's hospitality and desire to promote overall development have instilled great confidence, encouraging businesses to invest with peace of mind in the long term.

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

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

Located within the Thai Binh Economic Zone, Lien Ha Thai Industrial Park (Green iP-1) boasts numerous advantages in terms of transportation connectivity, linking to major roads connecting provinces within the economic zone and international seaports in the northern coastal region. With its modern and integrated infrastructure, Lien Ha Thai fully meets the stringent standards for foreign investment. Thanks to the preferential policies offered by the Economic Zone, businesses investing and operating here will minimize investment costs, enhance competitiveness, and achieve sustainable development.

Thanks to its efforts and outstanding advantages, Lien Ha Thai Industrial Park has become a destination for many large corporations from Korea, the US, China, etc., such as Compal, Hitejinro, Greenworks, Ohsung, Lotes, Keystone, Longstar… The presence of leading businesses 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 investments. It is expected that when fully occupied and all projects are operational, Lien Ha Thai will attract approximately 50,000 workers, making a significant contribution to the socio-economic development of Thai Binh province and surrounding areas.

For five BOT projects in Ho Chi Minh City, businesses are seeking government funding ranging from 50-70%.

On the afternoon of November 14th, the Ho Chi Minh City Department of Transport (DOT) held a consultation meeting with investors regarding the pre-feasibility study report for 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 implemented under 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 expedite these projects and therefore needs input from investors on how to balance financial plans and interests; fee collection methods; procedures for project planning and approval; and the selection of BOT investors, etc.

One of the issues of greatest concern to investors at the conference was the method of recouping their investment when participating in these BOT projects.

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

According to Mr. Mai, a capital recovery period of approximately 20 years for the five BOT projects in Ho Chi Minh City is reasonable; a longer recovery period would not be feasible given the financial plan.

Regarding toll collection, the Vice Chairman of Deo Ca suggested that tolls should be collected based on kilometers traveled instead of per trip, because the per-trip toll collection method often leads to disagreements over usage. "With the current automated toll collection system, there is sufficient technical basis to organize toll collection based on kilometers traveled; people pay for exactly how far they travel," Mr. Mai proposed.

Regarding financing options, Mr. Le Quoc Binh, General Director of Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), stated that when investors participate in a project, their financial capacity and audited financial reports should be carefully considered. Investors must demonstrate their ability and experience in raising capital, at least 50%.

According to Mr. Binh, in BOT projects, people often react to the toll collection, in which case the State agency may 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 the investor.

Regarding land clearance, most investors attending the conference suggested separating it into a separate project to be implemented by the state. This is because, after investing in numerous BOT projects, the most difficult aspect remains land clearance, which makes investors hesitant.

Mr. Le Quoc Binh suggested that construction should only begin when 90% of the land clearance for the project is complete, to avoid a situation where investors have to wait for the land to be cleared, causing businesses to have their capital tied up in the project.

"I believe there needs to be specific sanctions when project participants fail to complete their tasks. Without clear regulations, who will be responsible for the additional costs incurred when the project is delayed?" Mr. Binh suggested.

To expedite the progress of the 5 BOT projects, Dr. Tran Du Lich, Chairman of the Advisory Council for the implementation of Resolution 98, believes that for businesses to participate in investment, the project's payback period cannot exceed 20 years.

He suggested that, given the special mechanism outlined in Resolution 98, the city should consider guaranteeing the issuance of bonds by winning bidders to finance road construction. This solution would help businesses reduce financial costs and avoid reliance on bank credit.

If the city lines up five projects, only starting construction in the third quarter of 2026 and then waiting several years for construction, then when the preliminary review of Resolution 98 is completed, there will still be no results. "Of these five projects, whichever one can be implemented immediately, shortening the stages of design and construction, should be approved for immediate implementation, starting construction early, and completing it quickly," Mr. Tran Du Lich proposed.

Addressing some investor concerns, Mr. Tran Quang Lam, Director of the Ho Chi Minh City Department of Transport, stated that all five BOT projects implemented under Resolution 98 have had their land acquisition costs separated into a distinct project by the City. The land acquisition costs will be covered by the City budget, while the investors will undertake the construction.

Mr. Lam stated that, following the conference, the Ho Chi Minh City Department of Transport will incorporate the feedback from businesses to finalize the pre-feasibility study report, aiming for completion by the end of this year or, at the latest, the beginning of next year. Afterward, the city will organize the selection of investors in the third or fourth quarter of 2025.

Expedite the progress of the Hai Lang LNG project, phase 1.

On November 15th, the Quang Tri Provincial People's Committee announced that it had held a meeting with the consortium of investors for the Hai Lang LNG project (phase 1) to implement solutions to accelerate the project's progress.

The Hai Lang LNG project (phase 1) is being implemented by a consortium of investors: T&T Group (Vietnam) and Hanwha Energy Corporation – HEC, Korea Gas Corporation – KOGAS, and Korea Electric Power Corporation – KOSPO (from South Korea). The project commenced in January 2022 in the Southeast Quang Tri Economic Zone.

Rendering of the Hai Lang LNG Project.

According to the investment registration certificate, the total investment capital of the project is VND 53,668 billion, equivalent to USD 2.32 billion, of which the capital contribution of the consortium of investors to implement the project is VND 13,416 billion.

The project will construct the Hai Lang LNG Terminal Center, Phase 1, capable of receiving liquefied natural gas (LNG) carriers with a capacity of 170,000 to 226,000 m3, with a receiving capacity of 1.5 million tons of LNG per year; and the Hai Lang Power Center, Phase 1, with a generating capacity of 1,500 MW.

According to a report from the Quang Tri Provincial Economic Zone Management Board, regarding the specific progress for each task of the project, on August 30, 2024, the consortium of investors submitted a report to the Ministry of Industry and Trade, the Office of the State Steering Committee for National Key Programs, Works, and Projects in the Energy Sector, and the Provincial People's Committee on the project implementation schedule.

Accordingly, the consortium of investors expects to complete the establishment of the project company by early October 2025; complete the approval of the feasibility study (FS) report by November 2024; complete specialized agreements and related legal procedures, as well as land clearance, land lease, and the bidding process for EPC, insurance, construction management, operation, and maintenance packages by December 31, 2025; complete the financial arrangements and construction of project components by January 1, 2026; complete the bidding for LNG procurement by December 31, 2026; and complete construction, commissioning, and officially commence production and business operations by April 2, 2029, on December 31, 2029.

Regarding the adjustment of the project's investment policy, on October 17, 2024, the consortium of investors submitted the revised investment project dossier in accordance with regulations. On October 18, 2024, the Department of Planning and Investment issued a document requesting opinions from relevant departments, agencies, and units for appraisal.

To date, the departments, agencies, and the People's Committee of Hai Lang district have provided their input, and the Department of Planning and Investment is currently compiling it. At the meeting, the consortium of investors proposed several points regarding the submission of documents related to the adjustment of the investment policy and the new 1/500 scale detailed construction plan for approval, including: appraisal of the FS report; approval document for the environmental impact assessment report; agreement on grid connection; agreement on the LNG terminal and waterway.

Speaking at the meeting, the Standing Vice Chairman of the Quang Tri Provincial People's Committee, Ha Sy Dong, directed the consortium of investors to establish a representative office in Quang Tri soon; to continue coordinating with the Provincial Economic Zone Management Board and relevant departments, agencies, and localities to promptly resolve difficulties and obstacles in the process of adjusting the investment policy and adjusting the detailed construction planning at a scale of 1/500; and to coordinate with the Department of Industry and Trade to research and consult with central ministries and agencies on separating the factory and the 500 kV connecting power line in the feasibility study report to expedite 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 consortium of investors to urgently proceed with negotiations and signing of LNG purchase and sale contracts with partners to ensure a competitive electricity purchase and sale price proposal, in order to quickly complete the investment procedures for the project…

The Standing Vice Chairman of the Quang Tri Provincial People's Committee instructed 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 promptly complete the appraisal and submit to the Prime Minister for approval the partial adjustment of the general construction plan for the Southeast Economic Zone; at the same time, he instructed relevant departments, units, and localities to continue coordinating, implementing, and urging the investor consortium to carry out the tasks assigned by the Provincial People's Committee during the project implementation process, based on their functions and duties.

Binh Thuan Province postpones the implementation schedule of 3 public investment projects.

The People's Council of Binh Thuan province approved the extension of the implementation period for 3 projects managed by the Project Management Board for Investment and Construction of Agricultural and Rural Development Projects.

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

Coastal erosion situation in Tuy Phong district (illustrative image)

Specifically, according to the proposal from the People's Committee of Binh Thuan province, the project to invest in sea embankments in Tuy Phong district has a 3-year implementation period (from 2020 and continuing into the 2021-2025 period). The project has a total investment of 74.402 billion VND, with funding from the central government's contingency budget for 2019, the provincial budget, and central government support for the 2021-2025 period.

The project was completed and handed over for use on April 15, 2024, 422 days behind schedule. The delay was due to obstacles in site clearance and design documentation during the project's implementation and construction. Regarding funding, the project has been allocated 53.915 billion VND, of which 53.897 billion VND has been disbursed, leaving 18 million VND undisbursed. The investor commits to completing the final settlement of the project by 2025 and will be held accountable to the Provincial People's Committee for the delay.

Regarding the Tan Lap Commune Water Supply System Project in Ham Thuan Nam District, the implementation period is 3 years, with a schedule from 2022 to 2024; the total investment for the project is 55.160 billion VND from the provincial budget.

The delay is due to the extended investment preparation period from August 2021 to April 2023, which involved additional procedures beyond the feasibility study report. Regarding the allocated capital for the project, it currently stands at VND 37.756 billion, with VND 3.611 billion already disbursed, leaving VND 34.145 billion undisbursed. The investor commits to proactively coordinating with relevant units to complete and finalize the project for commissioning in 2025.

Furthermore, the inter-district road project along the main canal through Ham Thuan Bac, Bac Binh, and Tuy Phong districts has a total investment of 950.018 billion VND from government bonds and the provincial budget; the project implementation period is 5 years. Compared to the stipulated schedule, the project construction time has been extended by 1 year.

The reasons identified are adjustments and additions to some project items during implementation, as well as obstacles in compensation and land clearance. The project's capital to date is VND 950.018 billion, of which VND 931.023 billion has been disbursed, leaving VND 18.995 billion undisbursed. The investor commits to putting the project into operation and finalizing the accounts by the end of 2024.

Ha Tinh: Contractor selection process for the 1,498 billion VND Xo Viet Nghe Tinh road project.

The Project Management Board for Investment and Construction of Transportation Works in Ha Tinh Province is currently selecting a contractor to implement the Xo Viet Nghe Tinh Road project, which is over 6.6 km long and has a total investment of 1,489 billion VND.

Accordingly, the Soviet-Nghe Tinh road, extending eastward, begins at the intersection with Nguyen Cong Tru road in Thach Quy ward, Ha Tinh city; and ends at the intersection with National Highway 15B at Km 29+00 in Thach Lac commune, Thach Ha district.

Soviet-Nghe Tinh Street.

According to the design, the project has a roadbed width of 70m, a road surface width of 21m, a sidewalk width of 10m, and includes a green belt width of 9m on both sides of the sidewalk, and a median strip width of 30m.
The project is managed by the Ha Tinh Provincial Transport Construction Investment Project Management Board with a total investment of 1,498 billion VND and a project implementation period until 2026.

It is understood that the compensation, support, and resettlement work has been separated into sub-projects, assigned to the People's Committee of Ha Tinh City and the People's Committee of Thach Ha District as the investors to organize implementation within their respective administrative boundaries, ensuring compliance with current legal regulations.

Currently, the project has five bidders participating in the tender: Ha Tinh Construction Joint Venture, Truong Son Construction Corporation, Vietnam Import-Export and Construction Corporation, Nghe Tinh Soviet Joint Venture, and Central Vietnam Construction Group Joint Stock Company.

The extended Xô Viết Nghệ Tĩnh road investment project aims to ensure transportation needs in the area are met. Simultaneously, it promotes socio-economic development, especially the economic development of the coastal areas of Thạch Hà district, creating favorable conditions to attract strategic investors to implement projects in the area.

The Xô Viết Nghệ Tĩnh road project is expected to begin construction at the end of this year and be completed in 2026.

An additional 800 billion VND will be allocated from the central government's budget reserve to construct the new Phong Chau bridge.

Deputy Prime Minister Nguyen Hoa Binh signed Decision No. 1389/QD-TTg dated November 15, 2024, supplementing capital from the central budget reserve for 2024 for the Ministry of Transport to implement the investment project to build the new Phong Chau bridge on National Highway 32C, Phu Tho province.

Specifically, an additional 800 billion VND will be allocated from the central government's budget reserve for 2024 to the Ministry of Transport to implement the investment project for the construction of the new Phong Chau bridge on National Highway 32C, Phu Tho province.

The Deputy Prime Minister requested that, based on the allocated capital mentioned above, the Minister of Transport allocate additional funds from the central government's budget reserve for 2024 to the Project, ensuring compliance with the State Budget Law and other relevant legal regulations.

At the same time, the Minister of Transport directed relevant agencies and units to urgently complete investment procedures and allocate capital plans in accordance with the Law on Public Investment and relevant specialized legal regulations; to be responsible for directing relevant agencies and units to use the allocated central budget reserve for 2024 effectively, with quality, for the right purpose and target; to implement the project in accordance with the law; and to prevent any loss, waste, corruption, or negative practices.

The Deputy Prime Minister requested the Minister of Transport to direct, inspect, and urge the acceleration of the project's implementation progress, ensuring that the project is completed no later than December 31, 2025; and to hold the head of the ministry responsible for the disbursement of funds and the project's progress.

Fully accountable to the Government, the Prime Minister, and relevant agencies for the content, data, and proposals in reports, ensuring compliance with the regulations of the State budget, public investment, and other relevant laws.

The Ministry of Planning and Investment and the Ministry of Finance, according to their assigned functions and duties, are responsible for the content and data in reports and proposals; monitoring and guiding the Ministry of Transport in organizing the implementation and disbursement of additional capital from the central budget reserve for 2024; in case of discovering improper allocation or use of funds contrary to the provisions of the State Budget Law, or implementation not in accordance with the law, they shall report to the Prime Minister to recover the funds back to the central budget and hold accountable the heads, organizations, and individuals involved.

The implementation and disbursement of the central budget reserve fund for 2024, supplemented by the central budget, must be completed no later than December 31, 2025, in accordance with legal regulations; if the entire amount is not used, the remaining central budget reserve fund for 2024 will be cancelled.

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