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National Assembly holds closing session, finalizes special mechanism for nuclear power project

(VTC News) - On the last working day of the 9th Extraordinary Session, the National Assembly passed a Resolution on special mechanisms and policies for investment in the construction of the Ninh Thuan nuclear power project.

VTC NewsVTC News19/02/2025

On the morning of February 19, the National Assembly entered the last working day of the 9th Extraordinary Session.

According to the agenda, from 8:00 to 9:45 a.m., the National Assembly will hold a plenary session in the hall, voting to pass 4 resolutions, including: Resolution of the National Assembly on investment policy for the Lao Cai - Hanoi - Hai Phong railway construction project; Resolution on piloting a number of specific and special mechanisms and policies to develop the urban railway network system in Hanoi and Ho Chi Minh City.

Resolution on specific mechanisms and policies for investment in the construction of the Ninh Thuan nuclear power project; Resolution regulating the handling of a number of issues related to the reorganization of the State apparatus.

In addition, the National Assembly approved two laws: Law on Promulgation of Legal Documents (amended); Law on Organization of Local Government (amended).

National Assembly deputies vote to approve draft resolutions on personnel on the afternoon of February 18. (Photo: quochoi.vn)

From 10am, the National Assembly held its closing session.

Here, the National Assembly voted to pass two resolutions, including: Resolution on supplementing the socio-economic development plan for 2025 with a growth target of 8% or more; Resolution on piloting a number of policies to remove obstacles in science, technology and innovation activities.

Then, National Assembly Chairman Tran Thanh Man delivered the closing speech of the 9th Extraordinary Session.

Regarding the special mechanism and policy for investment in the construction of the Ninh Thuan nuclear power project, on the morning of February 14, Minister of Industry and Trade Nguyen Hong Dien, authorized by the Prime Minister, submitted to the National Assembly a report on this content.

The two Ninh Thuan nuclear power plants are expected to be put into operation in 2030. To achieve this goal, the Government believes that there should be specific mechanisms and policies for this project, in the immediate future to implement the stages of investment preparation and project implementation in parallel.

Accordingly, the Government proposed that the National Assembly allow simultaneous implementation of negotiations with partners to sign the Intergovernmental Agreement, the cooperation agreement on building a nuclear power plant and the Intergovernmental Agreement on State export credit to finance the construction of the plant. This process is carried out in parallel with the approval of adjustments to investment policies and investment projects.

The Government proposed allowing the Prime Minister to assign the investor to implement the project and apply the "turnkey" contract form, selecting the contractor immediately after the National Assembly approves the adjustment of the project investment policy (expected at the May session).

According to the Government's proposal, the application of the "turnkey" bidding package for the construction of the main factory is subject to a simplified procedure. This form can be applied to consulting bidding packages in the investment preparation and project implementation stages...

Direct negotiation and shortened bidding are also applied to partners supplying nuclear fuel to the plant and contractors maintaining and operating the plant within 5 years from the date the project is put into use.

Regarding financial and capital plans, the Government proposes to negotiate with the Government of implementing partners to arrange capital for the project according to the needs and commitments of foreign sponsors.

Investors are allowed to borrow and re-borrow under preferential conditions. Increased revenue, savings from the central budget and other legal capital can be used for the project in case the loan agreement negotiation is unsuccessful, or the loan is small in scale. Procedures for preparing proposals for programs and projects using preferential loans can be exempted.

Investors can use loans and bonds (Government, Government guarantees, construction bonds...) as counterpart capital for the project.

The Government also proposed to allow capital mobilization from re-lending sources, export credit with Government guarantees or issuance of corporate and Government bonds... Re-lending agencies, financial and credit institutions are exempted from appraisal procedures when lending, re-lending ODA capital, foreign incentives and issuing bonds.

For Ninh Thuan province, the Government proposed that the central budget annually supplement the province with a target of 70% of the increased revenue from the implementation of the nuclear power project. The province is also allowed to borrow ODA capital and foreign preferential loans with a total outstanding debt of up to 90% of the local budget revenue according to decentralization.

Ninh Thuan can apply for the appointment of consultants and contractors for the construction of compensation and resettlement projects for nuclear power plants. In addition, this province can apply some special mechanisms in licensing the exploitation of minerals for construction materials to supply for nuclear power projects.

Vtcnews.vn

Source: https://vtcnews.vn/quoc-hoi-hop-phien-be-mac-chot-co-che-dac-thu-lam-du-an-dien-hat-nhan-ar926733.html


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