Agreed to submit to the National Assembly for consideration an increase in VEC's charter capital.

The Standing Committee of the National Assembly unanimously agreed to submit to the National Assembly for consideration an increase in VEC's charter capital at the 9th extraordinary session, scheduled to open on February 12th.

On the afternoon of February 10th, the Standing Committee of the National Assembly gave its opinion on the plan to supplement the charter capital for the period 2024-2026 of the parent company - Vietnam Expressway Investment and Development Corporation (VEC).

Minister of Finance Nguyen Van Thang.

Presenting the government 's report, Minister of Finance Nguyen Van Thang stated that VEC's charter capital is very low, at just over 1,100 billion VND, while the company's investment scale amounts to over 108,000 billion VND.

According to Mr. Thang, this makes it difficult for VEC to mobilize capital for investment in expressway projects. Increasing the charter capital of this enterprise is necessary and urgent.

Based on that, the Government proposes that the National Assembly allow the use of public investment capital already allocated to the Ministry of Transport to invest in the project, amounting to over 36 trillion VND, and convert it into charter capital for VEC.

The government also proposed approving the investment plan to supplement VEC's charter capital for the period 2024-2026 with over 38 trillion VND, including over 1,500 billion VND from the Enterprise Development Investment Fund and over 36,000 billion VND from the State budget.

Regarding the review of the additional capital investment for charter capital, the Chairman of the Finance and Budget Committee, Le Quang Manh, stated that the majority of opinions within the Standing Committee agreed with the Government's proposal to use over 1,560 billion VND from the Enterprise Development Investment Fund to increase VEC's charter capital.

Regarding the nearly 36,700 billion VND from the State budget that has been disbursed for the construction of 5 expressway projects under VEC's ownership, the verification agency recommends that the Government report to the competent authority for consideration and approval of the principle before reporting to the National Assembly for consideration and decision on the principle of increasing VEC's charter capital.

Based on the approval of the competent authority, the reviewing agency requests the Government to urgently complete the supplementary documents to submit to the National Assembly for consideration and decision on the policy of increasing VEC's charter capital at the 9th extraordinary session this month.

After discussion, the Standing Committee of the National Assembly agreed to submit to the National Assembly for consideration the increase in charter capital for VEC at the 9th extraordinary session, scheduled to open on February 12th.

Source: https://www.baogiaothong.vn/dong-y-trinh-quoc-hoi-xem-xet-tang-von-dieu-le-cho-vec-192250210192430086.htm