Selecting the optimal and feasible option to invest in expanding the North-South expressway in the East

The Government Office issued Notice No. 323/TB-VPCP on the Conclusion of Deputy Prime Minister Tran Hong Ha at the meeting on studying investment in expanding the eastern sections of the North-South Expressway under the public-private partnership model.

A section of the North-South Expressway project in the East. (Photo: Huy Hung/VNA)

The announcement stated that in Announcement No. 266/TB-VPCP dated May 27, 2025 of the Government Office , the Deputy Prime Minister directed: (i) The General Director of Vietnam Expressway Corporation (VEC) to urgently and proactively propose a plan (VEC takes the lead in the whole project or VEC cooperates with domestic state-owned and private enterprises, proposes accompanying mechanisms and policies) to invest in upgrading and expanding the eastern sections of the North-South Expressway, and send it to the Ministry of Construction on June 2, 2025; (ii) The Ministry of Construction organizes the assessment and comparison of plans to propose to the Prime Minister the most effective plan.

On June 18, 2025, the Ministry of Construction issued Document No. 5266/BXD-KHTC reporting to the Prime Minister on the investment research plan to expand the eastern sections of the North-South Expressway under the PPP method, in which it recommended: considering researching the plan to form a number of large-scale projects (Northern and Southern regions).

However, up to now, VEC has not yet sent a document proposing an investment plan to the Ministry of Construction, which is very slow and does not meet the schedule. It is necessary to seriously learn from experience and not repeat it.

On the other hand, at the meeting, the Minister of Construction directly gave his opinion on prioritizing the investment plan for the entire route if there are qualified investors; this proposal is different from the content of the report of the Ministry of Construction in the above-mentioned document No. 5266/BXD-KHTC. The Minister of Construction is requested to direct relevant units to report and explain specifically about this proposal.

In addition, in Notice No. 266/TB-VPCP dated May 27, 2025, the Deputy Prime Minister directed: (i) Prioritize the option of enterprises with projects under construction to invest immediately to avoid waste; (ii) Study the mechanism to continue using previous contractors who have performed well in the project's bidding package.

However, in Submission No. 5266/BXD-KHTC dated June 28, 2025 and the Report for the meeting, the Ministry of Construction proposed: (i) Allowing toll collection on public investment routes according to the provisions of the Road Law and Resolutions of the National Assembly to refund to the central budget (toll collection is expected to start from January 2026). In case an investor is selected to implement the expansion investment under PPP, the toll collection work will be handed over; (ii) During the toll collection process, based on the actual situation, investment in expanding the routes under the PPP form should be implemented, in which a number of large-scale projects (in the North and the South) should be considered to ensure consistency and synchronization throughout the entire investment process, while optimizing management, operation and exploitation costs throughout the project life cycle, and at the same time, being able to attract investors with strong financial potential, willing to accompany the project for a long time; (iii) The time for expansion should be considered after the completion of the warranty work of contractors under previous public investment projects to avoid legal disputes and limit public misunderstandings about the re-construction of recently completed items.

On the other hand, at the meeting, the Minister of Construction proposed two options: (i) Option 1, one investment project for the entire route; (ii) Option 2, splitting into two projects, one project for each area (North from Mai Son to Cam Lo; South from Quang Ngai to Dau Giay).

The Deputy Prime Minister requested the Minister of Construction to directly direct the Ministry's advisory units to closely follow the direction of the Government's leaders, current regulations, proposals and recommendations of relevant enterprises to unify the selection of optimal and feasible investment options; in which, it is noted to take into account: (i) the effectiveness of the incentive plan for enterprises currently constructing on the route, which have proven their reputation, quality and efficiency; (ii) the reputation, technical capacity, financial capacity and capital mobilization ability of the enterprise proposing the investment; report to the Prime Minister before June 30, 2025.

The Ministry of Finance directed VEC to study two investment options as recommended by the Ministry of Construction, clarify financial capacity, experience and capital mobilization ability, and send them to the Ministry of Construction for synthesis before June 27, 2025.

Source: https://baodautu.vn/lua-chon-phuong-an-toi-uu-va-kha-thi-de--dau-tu-mo-rong-cac-tuyen-cao-toc-bac---nam-phia-dong-d315242.html