The Government Office has just issued a notice of the conclusion of Deputy Prime Minister Tran Hong Ha at the meeting on May 12 regarding the investment proposal of the North-South High-Speed Railway Project registered for investment by Vinspeed Joint Stock Company.
The announcement stated that after listening to the report of Vinspeed Joint Stock Company and the opinions of the delegates, Deputy Prime Minister Tran Hong Ha concluded: The Politburo has issued Resolution No. 68 on private economic development, which clearly states the policy of expanding the participation of the private sector in important national projects. The State encourages private enterprises to cooperate with the State in strategic areas such as high-speed railways, urban railways, key industries, etc.
Therefore, at the meeting, the initial opinions of ministries and agencies were basically supportive and welcoming of Vinspeed's proposal to invest in the High-speed Railway Project on the North-South axis.
However, the proposal to change the form of investment and the proposal to apply some specific and special policies and 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, receive comments to complete the draft, then submit it to competent authorities and the National Assembly before May 20.
Regarding the specific proposal of the North-South High-Speed Railway Project, the Deputy Prime Minister assigned the Ministry of Construction to preside over the synthesis based on the proposals and comments of ministries and branches before submitting to competent authorities for consideration of the policy of converting the investment form and specific policies and mechanisms to implement the project.
The Deputy Prime Minister assigned the Ministry of Finance to carefully assess the feasibility of converting the form from public investment to direct investment; assess the feasibility and ability to balance state capital sources to lend to enterprises according to the investor's proposal; specific mechanisms and policies for the project (the state lending to private enterprises without interest for a loan term of 35 years; the project's operating period is 99 years; the minimum ticket price for each class and the enjoyment of other investment incentives prescribed by law...).
The State Bank is responsible for reviewing, evaluating and providing comments to complete the policy on the total outstanding loan balance of the project not 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 of Agriculture and Environment, Justice, Public Security, National Defense, Industry and Trade, Science and Technology, according to their functions and duties, review, comment and assess the impact on the mechanisms and policies proposed by Vinspeed.
Regarding the implementation progress, ministries and agencies 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 is responsible for synthesizing and reporting to the Standing Committee of the Party Committee of the Ministry of Construction, submitting to the Standing Committee of the Government Party Committee before May 22; reporting to competent authorities and the National Assembly at the 9th session of the 15th National Assembly (when permitted by competent authorities).
The conclusion also stated that Vinspeed is responsible for presiding over and coordinating with the Ministry of Construction and the Ministry of Finance to complete the investment plan dossier, make a comparison between the two investment plans between the state and the private sector, clarifying the feasibility, completion progress, and investment efficiency, thereby proving the advantages when the private sector invests faster, cheaper, and more effectively.
Work with ministries and agencies to clarify and perfect specific mechanisms and policies, especially submit reports to competent authorities for consideration and decision.
Vinspeed is responsible for properly implementing the commitments on the proposed contents; researching and building the railway industrial system and playing a leading role in the development of the supply chain if the investment policy is approved.
On May 14, Vinspeed Company announced that it had registered to invest in the North-South High-Speed Railway Project. The company expects to start construction before December this year and operate the entire route before December 2030.
The project proposed by VinSpeed has a total investment of more than 1.5 million billion VND, excluding compensation and resettlement support costs. Of which, the enterprise commits to arrange 20% of the capital (about 312,330 billion VND), the remaining proposed to borrow from the State with 0% interest rate, term of 35 years from the date of disbursement.
Source: https://baohaiduong.vn/xem-xet-de-xuat-lam-duong-sat-toc-do-cao-bac-nam-cua-vinspeed-411632.html
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