Vinspeed proposes North-South high-speed railway: Government assigns ministries to evaluate and report before May 22

The high-speed railway project on the North-South axis will build a new double-track line of 1,435mm gauge - Illustration: Chat GPT

On May 15, the Government Office issued a notice of the conclusion of Deputy Prime Minister Tran Hong Ha at a meeting on the investment proposal for the high-speed railway project on the North-South axis of Vinspeed High-Speed ​​Railway Investment and Development Joint Stock Company.

The Government assigned ministries to carefully evaluate the proposed contents of VinSpeed.

According to the Government Office, on May 12, Deputy Prime Minister Tran Hong Ha chaired a meeting on the investment proposal for the high-speed railway project on the North-South axis of Vinspeed High-Speed ​​Railway Investment and Development Joint Stock Company.

After listening to the report of Vinspeed Company and the opinions of the delegates attending the meeting, the Deputy Prime Minister concluded that the Politburo has issued Resolution No. 68-NQ/TW on private economic development. It advocates expanding the participation of private enterprises in important national projects; encouraging the private economic sector to participate with the State in strategic areas and important national projects (such as high-speed railways, urban railways, key industries, etc.).

Therefore, at the meeting, the initial opinions of ministries and agencies were basically in support of and welcomed Vinspeed's proposal to invest in the high-speed railway project on the North-South axis.

However, the proposal to change the investment form and the proposal to apply some specific and special policy mechanisms to implement the project must be reported to the competent authority and is under the authority of the National Assembly.

Regarding the draft resolution on piloting a number of specific and special mechanisms and policies for investment in developing the railway system, the Deputy Prime Minister assigned the Ministry of Construction, according to its functions and tasks, to preside over and carefully review the proposals of investors, absorb the opinions of the Standing Committee of the Government Party Committee, and comments from ministries and branches to complete the draft resolution on the principle of including generally applicable policies in the draft resolution; report to competent authorities and submit to the National Assembly before May 20.

For the specific proposal of the high-speed railway project on the North-South axis, the Ministry of Construction shall preside over the synthesis based on the proposals and comments of the ministries and agencies: Finance, Agriculture and Environment, Justice, State Bank of Vietnam; report to the Government Standing Committee, the Government Party Committee Standing Committee for consideration before submitting to the competent authority for consideration of the policy of converting the investment form, the policy mechanisms, and specific characteristics applied specifically to implement the project.

In particular, the Ministry of Finance carefully evaluates the contents of its functions and tasks. Specifically, it evaluates the feasibility of changing the form from public investment to direct investment; evaluates the feasibility and ability to balance State capital sources to lend to enterprises according to the investor's proposal.

Along with that is the assessment of specific and special policy mechanisms for the project such as the State lending to private enterprises without interest for a loan term of 35 years; the project's operating period of 99 years; the minimum ticket price for each class and the enjoyment of other investment incentives prescribed by law...

The State Bank of Vietnam is responsible for reviewing, evaluating and providing comments on the policy of the total outstanding loan balance of the project not being included in the total outstanding loans of Vingroup Corporation according to the provisions of the Law on Credit Institutions as advised by the Ministry of Finance.

The ministries: Agriculture and Environment, Justice, Public Security, National Defense, Industry and Trade, Science and Technology, according to their functions and tasks, review, comment and assess the impact on the policy mechanisms proposed by Vinspeed Company.

Report to the Government before May 22

Regarding the implementation progress, the Deputy Prime Minister requested ministries and agencies to urgently give opinions and propose contents according to their functions and tasks, and send documents to the Ministry of Construction before May 19.

The Ministry of Construction synthesizes and reports to the Standing Committee of the Party Committee of the Ministry of Construction, submits to the Standing Committee of the Government Party Committee before May 22; reports to competent authorities and the National Assembly at the 9th session of the 15th National Assembly (when permitted by competent authorities).

Vinspeed Company is responsible for presiding over and coordinating with the Ministry of Construction and the Ministry of Finance to complete the investment plan documents and make a comparison between the two investment plans between the State and the private sector.

It clarifies feasibility, completion progress, investment efficiency..., thereby proving the advantages of private investment: faster, cheaper, more effective.

At the same time, work with ministries and agencies: Construction, Finance, Agriculture and Environment, Justice, Industry and Trade, Science and Technology, State Bank of Vietnam to clarify and perfect specific policy mechanisms, especially submit reports to competent authorities for consideration and decision.

The Deputy Prime Minister requested Vinspeed Company to properly implement its commitments on the proposed contents; research and have a plan to build a railway industrial system, playing a leading role in the development of the railway industrial chain if decided by competent authorities.

Tuoitre.vn

Source: https://tuoitre.vn/vinspeed-de-xuat-duong-sat-toc-do-cao-bac-nam-chinh-phu-giao-cac-bo-danh-gia-bao-cao-truoc-22-5-20250515113618348.htm#content