No Comments

Ho Chi Minh City Temporarily Halted The BT Project Being Negotiated

Ho Chi Minh City temporarily halted the BT project

HCMC has about 130 investors registered to participate in projects in the form of public-private partnerships with a total capital of more than 350,000 billion.

You can read more information at Vietnam Real Estate Market

On October 30th, the People’s Committee of Ho Chi Minh City held the periodical meeting on socio-economic situation, security and defense and budget revenue and expenditure in October and the first 10 months of 2017. Chairman of the People’s Committee Nguyen Thanh Phong has information about The implementation of BT projects (construction – transfer) in the city.

Transparency BT

Nguyen Thanh Phong said that this week there will be workshops to evaluate the current situation and find solutions, procedures management BT projects in the city. The content is to evaluate and propose how to manage BT projects, avoiding the story affected by other factors. The process of making BT projects must ensure the efficient exploitation of the land and property resources of the state. “The Department of Planning and Investment preparing this workshop must be very attentive, invite all the components and experts to give comments, listen to form the process, then report to the Standing Committee of the Party this issue “- Mr. Phong asked.

Ho Chi Minh City temporarily halted the BT project
Saigon Bridge 2 – a project implemented in the form of BT is promoting effective in HCMC

According to Phong, the implementation of these projects must be open and transparent, ensuring the provisions of the law, but also open air, creating conditions for businesses to invest. “BT projects are under discussion and negotiations must stop, after the new procedure will be calculated, and then there will be the direction of the Government and then continue to work.” Department of Planning and Investment With the business to clear information, slow down to the latter easy in management but still guarantee the interests of investors, “Mr. Phong stressed. Vice Chairman Tran Vinh Tuyen requested the units not to consult and recommend anything related to BT projects, including pre-feasibility study.

At the press conference shortly after, with the attention of the press about the impact of the policy to stop BT projects, the director of the Department of Planning and Investment of Su Ngoc Anh said that in the past five years, the city invested 1 million billion for infrastructure development. In the coming years, the city needs to spend up to 500 trillion dongs for infrastructure development but the budget only meets about 30%, so it needs to mobilize other components. According to Mr. Anh, 18 infrastructure projects are being implemented in the form of BT, BOT with the investment capital of 59,000 billion dongs. In addition, there are about 130 investors registered to participate in public-private partnership projects in the city with a total capital of about 350,000 billion. “In the near future, we will have to follow closely the steps, with the monitoring mechanism such as the norm of capital, the auction of land,” Anh said.

See more information at Vietnam Real Estate News

Fear of wasting public land

Regarding the use of public land, the director of the Department of Natural Resources and Environment Nguyen Toan Thang admitted that there are signs of land use ineffective, not the purpose assigned to the city. These activities are also under examination by the Department of Natural Resources and Environment and other districts. In the period of 2010-2015, 576 projects have been approved but delayed implementation. The city is reviewing the period 2016-2020 about 1,283 projects, of which about 280 projects show signs of slow progress. “We are focusing on classifying and comparing the law to deal with.” The allocation of land along the Saigon River was also scrutinized after comments from National Assembly deputies,” Mr.Thang said.

Ho Chi Minh City temporarily halted the BT project
illustration

According to Thang, it shows that even with the guidelines, but when using the wrong purpose of land allocated or not done are treated. For further information, Mr. Thang said that the Government also suspended the implementation of Decision 09/2007 / QD-TTG on the rearrangement and treatment of state-owned houses and land for the most efficient use of land. The land is a great resource for capital.

Head of the Office of Vo Van Hoan People’s Committee further information in the area of the city has four agencies managing the land, including Land Development Center (land clean), House Management Company (villa, office ), public utility services (houses, townhouses, single houses, untreated houses under Decision 09) and central agencies (this source is very large). According to Hoan, the utility company is collecting statistics, review more than 1,000 units to recover. “We have advocated for a long time, but it takes time by appraisal process, which is very difficult. The city has assigned the local to do to have development investment for themselves but only about 20 houses per year, “said Hoan.

You are reading the article “Ho Chi Minh City Temporarily Halted The BT Project Being Negotiated” in the Real Estate category at realestatevietnam.com.vn. Any information sharing, feedback please email to info@realestatevietnam.com.vn, Hotline 0909890897 (24/7).
Special thanks!

Ho Chi Minh City Temporarily Halted The BT Project Being Negotiated
Review

Comments (0)