Selection of investors for component project 3 of Ring Road 4.

Selecting investors for component project 3 of the Ring Road 4 – Capital Region using the PPP method.

Deputy Prime Minister Tran Hong Ha requested the urgent selection of an investor for component project 3 of the Ring Road 4 – Hanoi Capital Region using the public-private partnership (PPP) method.

Perspective view of Ring Road 4 – Capital Region.

The Government Office issued Notice No. 466/TB-VPCP dated October 14, 2024, summarizing the conclusions of Deputy Prime Minister Tran Hong Ha at the meeting on the implementation of the investment project for the construction of Ring Road 4 – Hanoi Capital Region.

In the announcement, Deputy Prime Minister Tran Hong Ha highly appreciated the decisive involvement of the Party committees and authorities of the localities: Hanoi City, Bac Ninh province, and Hung Yen province in recent times, which have made efforts to accelerate the progress of land clearance and implementation of component projects in their areas. However, according to the report of the Hanoi City People's Committee, the implementation of the project has encountered some difficulties and obstacles regarding mechanisms and policies; investor selection, etc.

The Deputy Prime Minister concluded: The project's investment policy was decided by the National Assembly in Resolution No. 56/2022/QH15 dated June 16, 2022; therefore, adjustments to the capital structure and changes to the financial plan of Component Project 3, invested under the PPP method, must be submitted to the National Assembly for consideration and decision.

Relevant ministries, agencies, and localities should learn from past mistakes in surveying, evaluating, and providing inaccurate data when preparing pre-feasibility study reports (with the consulting units bearing primary responsibility).

The Hanoi People's Committee, in coordination with relevant localities, will review and accurately assess the data, agree on adjustments and balances regarding increases and decreases in the total investment of the component projects, and carefully consider the content and timing of submission to the National Assembly. It should be noted that the implementation of Component Project 3 requires consultation with interested investors to ensure feasibility and compliance with the law on investment under the PPP method.

The Ministry of Planning and Investment and the Ministry of Transport shall coordinate and guide Hanoi City and other localities to properly implement the contents approved in Resolution No. 56/2022/QH15 of the National Assembly; and promptly proceed with the selection of investors to implement Component Project 3 under the public-private partnership (PPP) method.

Simultaneously, review and summarize the difficulties faced by all three localities, paying particular attention to the regulations in Resolution No. 140/2024/QH15 of the National Assembly; the process of implementing and carrying out procedures according to regulations to submit to competent authorities for issues exceeding their authority, and to submit to the National Assembly for adjustment of the investment policy of the Project (when necessary).

The Ring Road 4 – Capital Region project is a key national project. The Hanoi Ring Road 4 – Capital Region project has a total length of over 112 km, passing through three provinces and cities: Hanoi, Hung Yen, and Bac Ninh. The project is divided into seven component projects, with the Ring Road 4 expressway being invested in under a PPP (component project 3). This component project is considered the "heart" of the project and is currently in the process of seeking investors. The Hanoi People's Committee aims to complete the investor selection and commence construction of component project 3 in the fourth quarter of 2024.

Source: https://baodautu.vn/lua-chon-nha-dau-tu-du-an-thanh-phan-3-duong-vanh-dai-4—vung-thu-do-theo-phuong-thuc-ppp-d227445.html