North-South Expressway: 70% of investment will come from socialization

The Government has just announced the conclusion of Deputy Prime Minister Trinh Dinh Dung at a meeting on preparation for investment projects construction of North-South highway.

Notice of conclusions clearly states that North-South expressway is a national important project, so it is necessary to ensure strict and proper regulations and submit to the Prime Minister and the Government for submission to the National Assembly for approval to meet the requirements.

North-South expressway project to be built 

The main objective and requirement for the project is to form a North-South expressway to meet high transport capacity, high speed and safety; connecting economic and social centers from Hanoi to Ho Chi Minh City acrossing 20 provinces and cities; to connect economic zones, industrial parks and seaports with a view to socio-economic development in areas where highways pass in particular and the country in general; to reduce pressure and exploit more effectively than Highway 1; It is in line with the country’s resources and orientation for infrastructure development, including transport infrastructure.

On the investment plan, Deputy Prime Minister Trinh Dinh Dung assigned the Ministry of Communications and Transport to direct the consultant to complete two options (state support VND63 trillion and VND70 trillion), report to the Prime Minister, Government Decide before submitting to the National Assembly. State support is mainly for site clearance and investment, while the rest (about 70% of total investment) is mobilized from social mobilization.

According to the project of the Ministry of Transport, the North-South expressway has an investment capital of nearly 230 trillion dong

To ensure the progress of the project, the Deputy Prime Minister requests the Ministry of Planning and Investment to expeditiously submit to the Prime Minister the establishment of the State Appraisal Council for project appraisal according to regulations. The Minister of Planning and Investment is the Chairman of the Council, the members are the leaders of the ministries and branches as prescribed, invite more experts with economic and technical experience.

The Ministry of Transport shall direct the consultants to take initiative in elaborating component investment projects for implementation immediately after the National Assembly adopts the policy on investment in the whole line.

The Ministry of Transport and Communications shall coordinate with the Ministry of Planning and Investment, the Ministry of Finance and the State Bank of Vietnam in finalizing specific mechanisms, including mechanisms for mobilizing investment capital for socialization, The National Assembly approves according to its competence.

Previously, the Ministry of Transport submitted to the Government a proposal for investment in the north-south highway of 1,372 km long, design speed of 100-120 km / h, total investment of VND229.829 billion.

With a length of 1,372 km, the project is divided into 20 component projects, each of which is independently exploited, in line with the PPP (Public Private Partnership) mobilization capacity. The state, charging time is less than 25 years.

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