VEC affirms its core role in investment and operation of expressways - Lang Son Newspaper: Latest, accurate and reputable news

Speaking at the 20th anniversary of the establishment of Vietnam Expressway Corporation (October 6, 2004 - October 6, 2024), Mr. Nguyen Hoang Anh, member of the Party Central Committee, Chairman of the State Capital Management Committee at Enterprises, emphasized that VEC has been affirming its model and promoting its core role in investment activities, management and operation of expressways.

Many units and individuals of VEC were awarded noble prizes.

VEC also contributes to the successful implementation of one of the three strategic breakthroughs and the 10-year Socio- Economic Development Strategy for the 2021-2030 period identified in the Resolution of the 13th National Congress of the Party.

Mr. Nguyen Hoang Anh, member of the Party Central Committee, Chairman of the State Capital Management Committee at Enterprises, spoke.

20 years ago, stemming from the need to develop road traffic infrastructure, VEC - formerly the Vietnam Expressway Development Investment Company was established under Decision No. 3033/QD-BGTVT of the Minister of Transport. With an initial charter capital of about 1,000 billion VND, under the guarantee of the Government , up to now, VEC has arranged domestic and foreign capital sources to invest in 5 expressway projects with a total length of 540km, a total investment of 108 trillion VND, contributing to laying the foundation and changing the face of Vietnam's expressway system.

Mr. Pham Hong Quang, General Director of VEC spoke.

“VEC is a pilot model of the Government and the transport sector, learning and applying similar operating models of the Korea and Japan Expressway Corporations (KEC and NEXCO) to attract domestic and foreign capital sources in many forms to invest and develop the expressway system in the form of self-construction, self-operation and self-repayment”, Mr. Pham Hong Quang, General Director of VEC emphasized.

Currently, VEC has put into operation 490km of expressways belonging to 4 expressways, accounting for 27% of the total length of expressways in operation nationwide; safely and smoothly serving over 430 million vehicles, with total toll revenue reaching over 30 trillion VND.

Recently, the Government's leaders approved the Project on restructuring VEC. The restructuring project is to continue maintaining VEC as a 100% state-owned enterprise; assigned to manage the expressway infrastructure assets, calculating the state capital component in the enterprise and increasing the charter capital according to the roadmap, on the basis of the state capital invested in projects invested by VEC.

In 2024, VEC reported to the State Capital Management Committee at Enterprises and submitted to competent authorities a plan to supplement charter capital for the parent company - VEC. After completing the supplementary procedures, VEC's charter capital will be increased to VND 38,625 billion, creating conditions for VEC to improve its financial capacity, expand its scale of operations, and participate in national expressway network development projects in the next phase.

Deputy Minister of Transport Le Anh Tuan speaks.

Speaking at the ceremony, Deputy Minister of Transport Le Anh Tuan hoped that VEC would continue to promote its internal strength and advantages to overcome challenges together with the entire transport sector; contribute to the goal of investing in nearly 3,000km of expressways for the 2021-2026 term and 5,000km of expressways by 2030; successfully develop a synchronous and modern transport infrastructure system, contributing to the successful implementation of the goals of the Resolution of the 13th National Party Congress,...

Source: https://baolangson.vn/vec-khang-dinh-vai-tro-nong-cot-trong-dau-tu-van-hanh-duong-bo-cao-toc-5023996.html