Make a decision soon on the investment plan for expanding the Ho Chi Minh City expressway section.

On August 30, the Government Office issued the conclusion of Deputy Prime Minister Tran Hong Ha regarding the investment plan for expanding the Ho Chi Minh City - Long Thanh section of the Ho Chi Minh City - Long Thanh - Dau Giay Expressway Project.

Previously, in a conclusion dated May 5th, the Deputy Prime Minister assigned the State Capital Management Committee at Enterprises to be fully responsible to the Prime Minister for completing the conditions of the Vietnam Expressway Investment and Development Corporation (VEC), ensuring the progress requirements are met, and promptly reporting to the Deputy Prime Minister any obstacles, delays, impracticality, failure to meet the progress, and proposed implementation plans.

Early selection of investment options for expanding the highway section.

Ho Chi Minh City - Long Thanh.

However, to date, the State Capital Management Committee at enterprises has not yet reached an agreement with the Ministry of Finance on the necessary conditions to ensure the financial plan for assigning VEC as the investor of the project, especially on two issues: increasing VEC's charter capital, and freezing and postponing the repayment of principal and interest related to bonds that the Ministry of Finance has advanced to repay debt.

To expedite the decision on the project's investment plan, the Deputy Prime Minister instructed the State Capital Management Committee at Enterprises, the Ministry of Transport, the Ministry of Finance, the Ministry of Planning and Investment, and other relevant agencies to urgently prepare a report for the Standing Committee of the Government.

In that regard, the Deputy Prime Minister requested the State Capital Management Committee at Enterprises to report on the operational model and capacity of VEC; the implementation of the pre-feasibility study report for the project; and the financial plan for investment in the project should VEC be assigned to implement it.

The Ministry of Finance reports on the handling of the increase in VEC's charter capital; the legal basis and authority to freeze and postpone the repayment of principal and interest related to bonds that the Ministry of Finance has advanced to repay on behalf of VEC (including a clear report on the implementation of the conclusions of the Politburo, the Government, and the Prime Minister related to this matter).

The Ministry of Planning and Investment reports on the application of investment law, public investment law, and related laws to implement the project; clearly proposes the implementation plan, funding sources, and ensures compliance with regulations.

The Ministry of Transport, in coordination with the State Capital Management Committee at Enterprises, will report on the legal and practical basis for proposing that VEC be assigned to invest in the project; and propose alternative investment options (if any) in case VEC is not qualified to implement it.

The Deputy Prime Minister requested the aforementioned agencies to submit their reports to the Ministry of Transport before September 5th for compilation and preparation of a report to be submitted to the Standing Committee of the Government before September 6th.

Following the report from the Ministry of Transport, the Government Office submitted a request to the Prime Minister to authorize a meeting of the Government Standing Committee.

The Ho Chi Minh City - Long Thanh - Dau Giay Expressway project, phase 1, invested and operated by VEC, has a scale of 4 lanes, a length of 54km, and is part of the eastern North-South expressway axis, located in the Southern key economic region.

Since its opening, the volume of traffic on the road has continuously increased, averaging about 10.45% per year, and the road is now at full capacity.

In particular, the Ho Chi Minh City - Long Thanh section has exceeded its 4-lane cross-section capacity limit by 25% and will not be able to meet traffic demands when Long Thanh International Airport becomes operational (expected in 2026).

Therefore, proposing a study to expand the Ho Chi Minh City - Long Thanh section is necessary and urgent to meet transportation needs, serve socio-economic development, and ensure traffic safety for the entire Southeast region in particular and the whole country in general.

Source: https://www.baogiaothong.vn/som-quyet-dinh-phuong-an-dau-tu-mo-rong-doan-cao-toc-tphcm-long-thanh-192240830215334441.htm