Private sector to build North-South high-speed railway: Need to clarify mechanism and asset ownership

(Dan Tri) - According to Deputy Prime Minister Tran Hong Ha, the mechanism and policies for high-speed railways need to establish a harmonious relationship between rights and responsibilities, ensuring security and financial safety.

On November 3, Deputy Prime Minister Tran Hong Ha chaired a meeting to listen to reports and give opinions on the National Assembly 's draft resolution on a number of specific mechanisms and policies, especially applicable to the North-South high-speed railway project.

According to the Deputy Prime Minister , submitting to the National Assembly a resolution on specific mechanisms and policies, especially for the North-South high-speed railway project, is a big requirement.

It is necessary to determine the relationship between the mechanisms and policies in the draft resolution and the mechanisms and policies issued for public investment in essential infrastructure. Clarify the outstanding incentives for private investment and public-private partnership (PPP) methods; risk control mechanisms, and protection of state capital.

When investing in public sector, the State is responsible for management and risk; when investing in private sector, enterprises will manage and bear corresponding responsibility. Therefore, mechanisms and policies need to establish a harmonious relationship between rights and responsibilities, ensuring financial security and safety.

According to the report of the Ministry of Construction , groups of specific and special mechanisms and policies will include general regulations applicable to all three forms of public investment, PPP, and business investment; regulations applicable specifically to the form of business investment; regulations applicable specifically to the PPP investment method; anti-corruption mechanisms...

The Deputy Prime Minister said that submitting to the National Assembly a resolution on specific mechanisms and policies, especially for the North-South high-speed railway project, is a big requirement (Photo: VGP).

Deputy Minister of Finance Do Thanh Trung proposed adding a mechanism for sharing resource responsibility with local budgets, similar to ongoing projects.

In cases where State-owned enterprises are capable of participating in investment in related infrastructure, it is necessary to allow capital mobilization from enterprises, instead of rigidly stipulating all from the central budget.

Deputy Governor of the State Bank Nguyen Ngoc Canh said it is necessary to clarify the mechanism for State lending in the case of investment in the form of business investment, regulations related to credit limits and supervision responsibilities.

Deputy Minister of Justice Nguyen Thanh Tu also emphasized that the resolution needs to be unified and synchronized with the current legal system, such as the Investment Law, PPP Law, Land Law and related resolutions.

Important financial mechanisms such as the State capital lending ratio or credit limits need to be carefully assessed for impact and feasibility, especially in terms of risks, negative prevention and policy exploitation. In addition, it is necessary to supplement regulations on binding responsibilities, commitments, and handling mechanisms if investors are behind schedule, violate commitments, lose financial capacity or go bankrupt.

In conclusion, the Deputy Prime Minister requested to complete the draft to ensure all three options: public investment, private investment and PPP. In particular, it is necessary to clarify the relationship with other resolutions such as specific mechanisms and policies for the railway industry, construction materials, etc.

In particular, the State lending mechanism in the case of investment in the form of business investment must have full justification from the investor's capacity, capital flow control mechanism to risk prevention plan and preservation of assets formed from State capital.

The draft needs to clearly stipulate the responsibilities of enterprises in both cases of objective risks (natural disasters, epidemics, force majeure) and risks due to weak capacity or violations, including the option of the State taking over or nationalizing assets when necessary to protect public interests.

To improve technological capacity is the key issue, the Government leader requires investors to build a clear roadmap from reception, operation, maintenance to step-by-step production and manufacturing, based on the ability to absorb technology, human resources capacity and domestic market scale; commit to a specific and feasible technology transfer plan.

Along with that, the draft needs to clarify the management mechanism, asset ownership, operation methods and responsibilities of the State, enterprises and Vietnam Railways Corporation throughout the entire project life cycle, avoiding overlap and legal risks later.

Source: https://dantri.com.vn/kinh-doanh/tu-nhan-lam-duong-sat-toc-do-cao-bac-nam-can-ro-co-che-so-huu-tai-san-20251103192757441.htm