Quang Nam proposes adjusting the investment policy for a project worth over 2.7 trillion VND.

The People's Committee of Quang Nam province has submitted a proposal to the Ministry of Planning and Investment and the Ministry of Finance regarding the adjustment of the implementation time for the Quang Nam Province Adaptive Integrated Development Project, with a total investment of over 2,700 billion VND.

The People's Committee of Quang Nam province has submitted a proposal to the Ministry of Planning and Investment and the Ministry of Finance regarding the adjustment of the implementation time for the Quang Nam Province Adaptive Integrated Development Project, with a total investment of over 2,700 billion VND.

The Quang Nam Province Adaptive Integrated Development Project has a total investment of over 2,700 billion VND.

The Chairman of the People's Committee of Quang Nam province, Le Van Dung, has submitted Proposal No. 7910 to the Ministry of Planning and Investment and the Ministry of Finance regarding the adjustment of the investment policy for the Quang Nam Province Adaptive Integrated Development Project.

Accordingly, the People's Committee of Quang Nam province proposed adjusting the project implementation time from 2022-2027, as stipulated in Decision 396 of the Prime Minister, to 2022-2030.

Regarding the reasons for the adjustment, the Quang Nam Provincial People's Committee stated that the project received investment approval from the Prime Minister in Decision No. 396/QD-TTg dated March 29, 2022, and investment approval from the Quang Nam Provincial People's Committee in Decision No. 574/QD-UBND dated March 14, 2024, according to which the project implementation period is from 2022 to 2027. However, to date, the project has not yet signed an agreement with the World Bank (WB) as the donor.

The Quang Nam Provincial People's Committee also stated: Currently, the Ministry of Finance and the World Bank are carrying out procedures to propose negotiations for the project agreement. To allow sufficient time to complete the project, based on the World Bank's opinion, the Quang Nam Provincial People's Committee is submitting a proposal to the Ministry of Planning and Investment and the Ministry of Finance for consideration and reporting to the Prime Minister to adjust the project implementation timeframe to ensure compliance with regulations.

The Quang Nam Province Adaptation Integrated Development Project is a Group A project with a total investment of US$118.7 million, equivalent to VND 2,748.61 billion. This includes US$79.12 million (equivalent to VND 1,832.1 billion) from a World Bank loan and US$39.58 million (equivalent to VND 916.51 billion) in counterpart funding.

The project aims to enhance access to adaptive infrastructure services and improve the capacity for planning and managing adaptive development in response to natural disaster risks in the project implementation areas of Quang Nam province.

The project will dredge the Truong Giang River and construct six new bridges over it. The project will be implemented in the districts of Duy Xuyen, Thang Binh, Nui Thanh, and the city of Tam Ky, with a total channel length of approximately 60 km.

Regarding this project, the Chairman of the Quang Nam Provincial People's Committee, Le Van Dung, affirmed that it is a driving force project for the province. This project will create conditions for the development of the eastern region of the province, while also strengthening connectivity and removing infrastructure obstacles in key coastal economic zones, creating a smooth and synchronized transportation system that contributes to socio-economic development.

Source: https://baodautu.vn/quang-nam-de-xuat-dieu-chinh-chu-truong-dau-tu-du-an-hon-2700-ty-dong-d228049.html