BOT infrastructure projects still get strong backing from NA, GovtTu Hoang HANOI – Proponents of BOT infrastructure projects still abound at the National Assembly, the Ministry of Transport, the State Audit Office of Vietnam and enterprises though such projects have grown unpopular. At a meeting on BOT (build-operate-transfer) projects on September 7, Nguyen Duc Kien, vice head of the National Assembly Economic Committee, said the BOT format is suitable for Vietnam’s socio-economic conditions and should be boosted in the coming time. Deputy Minister of Transport Nguyen Nhat said the State budget could meet only 30% of the capital demand for traffic infrastructure development. According to a Party resolution, the nation will have 2,000-2,500 kilometers of expressway by 2020. However, as of 2016, only 746 kilometers of expressway had been built across the country. Doan Huy Vinh, vice head of the Specialized Audit Department No II under the State Audit Office of … [Read more...]

HCMC metro project cost spike to worsen public debtVan Nam A view of an elevated section of Metro Line No. 1 in HCMC. Several ministries have expressed concern that the Metro Line No. 2 project, which has yet to get off the ground, in HCMC might make the country’s public debt soar - PHOTO: THANH HOA HCMC – Several ministries have expressed concern that the Metro Line No. 2 project in HCMC might make the country’s public debt soar as its cost has surged to about US$2.15 billion from the originally planned US$1.3 billion. At a meeting with the HCMC People’s Committee on September 1 on metro line development projects, Hoang Nhu Cuong, deputy director of the city’s Management Authority for Urban Railways (MAUR), said the adjustment of the project’s investment cost from US$1.3 billion to US$2.15 billion had been thoroughly reviewed by consultants and would go before the city government this month. However, the … [Read more...]

Tien Giang wants to build overpass to industrial parkTrung Chanh The National Highway 1 section where Tien Giang Province has proposed building an overpass to reduce traffic congestion as 50,000-60,000 workers cross National Highway 1 from the main entrance of the Tan Huong Industrial Park - PHOTO: TRUNG CHANH TIEN GIANG – The Mekong Delta province of Tien Giang has proposed the Ministry of Transport develop an overpass to the Tan Huong Industrial Park on National Highway 1 to reduce traffic congestion there. Tran Van Bon, director of the provincial Transport Department, told the Daily on September 4 that the ministry had greenlit the project as a component of the National Highway 1 bypass project in Cai Lay town in phase two. However, Bon said, the ministry later withdrew its decision, saying the overpass could not be treated as part of the bypass project. But the provincial government has still insisted the ministry consider funding the … [Read more...]

Spanning of Vam Cong and Cao Lanh bridges completed Trung Chanh Cao Lanh Bridge is under construction in the Mekong Delta province of Dong Thap - PHOTO: TRUNG CHANH CAN THO – The bridges of Vam Cong and Cao Lanh, which connect the peripheral areas of the Mekong Delta to its center, have their final spans put in place today, said Deputy Minister of Transport Nguyen Nhat. At a working session with Vice Chairman of the National Assembly Phung Quoc Hien in Can Tho City on August 31, Nhat said the cable-stayed bridges are set to be opened to traffic later this year while the local Vam Cong Bridge crosses the Hau River and connects Dong Thap’s Lap Vo District with Can Tho’s Thot Not District. The bridge’s length is around three kilometers and if the access roads at two sides are included, the total length will be 5.75 kilometers. The six-lane bridge, which got off the ground in September 2013, allows for a maximum speed of 80 … [Read more...]

Vietnam Waterway Construction Corporation (Vinawaco) is currently in hot water due to continuous revelations of enormous losses and debts from before its equitisation. Vinawaco has just sent two urgent dispatches to the Ministry of Transport (MoT) and the Hoan Kiem District (Hanoi) Division of Civil Judgement Enforcement requesting to speed up the valuation of state capital at the moment of its equitisation (May 30, 2014) and delay the forced debt collection for two judgements pronounced by the Haiphong People’s Court in 2016 and the Ho Chi Minh City Peoples’s Court in 2004. “These two requests are actually linked together, since only when MoT determines the amount of state capital at the time of equitisation will we have a basis to pay the company’s liabilities in accordance with the law,” said Ngo Van Tuan, chairman of the board of Vinawaco. In particular, regarding … [Read more...]

Delegates speak during the break of the APEC Economic Committee’s Friends of the Chair on Strengthening Economic and Legal Infrastructure (SELI) meeting. — VNS Photo Bo Xuan Hiep Strengthening economic and legal infrastructure can bring significant benefits to APEC-member economies through economic growth and improvements in living standards, experts said at a meeting held on Friday in HCM City. International delegates took part in the APEC Economic Committee’s Friends of the Chair on Strengthening Economic and Legal Infrastructure (SELI) meeting at the third Senior Officials Meeting (SOM 3) now being held in the city. Representatives from international organisations, including the UN’s Commission on International Trade Law, the World Bank and International Institute for the Integration of Investment Law, also attended the event. SELI serves as a network of focal points for legal advisors … [Read more...]

Thanks to Summerfield Company Limited’s intention to take over, the long-delayed $2-billion Happy Land entertainment complex in the Mekong Delta province of Long An may be revived. Aerial view of the HappyLand complex At a recent working session with leaders of the Long An People’s Committee, chairman of Summerfield Company Limited from Hong Kong, Francois Da Pan Shih, expressed interest in investing in the project after initial research. In November 2011, Phu An Infrastructure Investment and Development JSC, a subsidiary of Khang Thong Group, broke ground for the HappyLand entertainment complex. Developed on a 338-hectare area in Ben Luc district, the multibillion-dollar project inspired by Disneyland would include a $600-million theme park, a 3.7-kilometre boardwalk, a shopping centre, three- to five-star … [Read more...]

The CTI Expert Meeting on Quality Infrastructure Investment was held within the framework of the third APEC Officials Meeting (SOM 3), where APEC member economies shared good practices and lessons learned in infrastructure projects. At the event The event aims to enhance understanding on quality infrastructure investment from both institutional and technical perspectives among high-ranking officials in charge of infrastructure. Delegates shared the views that quality infrastructure investment helps ensure the governance of the infrastructure, reliable operation during the life span of a project, safety and resilience against natural disasters, terrorism and cyber-attack risks. At the same time, quality infrastructure investment contributes to job creation for local communities and the settlement of environmental and social impacts. Kazuko Ishigaki, from Japan’s Ministry of Land, Infrastructure, Transport and … [Read more...]

The Ministry of Information and Communications (MIC) directed MobiFone Corporation and VTC Multimedia Corporation to finish their equitisation in 2018, while Vietnam Posts and Telecommunications Group (VNPT) should be equitised in 2019. International and domestic investors are eyeing MobiFone's equitisation Restructuring plans It is planned that before August 31, 2017, MIC will assess and consider approving the restructuring plans of MobiFone, VTC, and Corporation of Vietnam Post Office (VNPost). Also, during this period, the telecom provider VNPT’s restructuring plan will be submitted to the prime minster. Previously, on August 8, MIC established a Steering Committee for Enterprise Innovation and Development, with the aim of supporting enterprises under MIC’s management during the period of 2016-2020. … [Read more...]

PV Power, a wholly-owned subsidiary of state-owned PetroVietnam and the second largest electricity producer in Vietnam after Electricity of Vietnam (EVN) in terms of capacity, hopes to complete its equitisation in December this year, after having missed the deadline numerous times, according to information published on the company’s website. PV Power prepares for its next attempt at the IPO It is the third time the company has released the deadline for its equitisation. In early June, the company published on its website that it is expected to conduct its initial public offering (IPO) at the end of August. Previously, PV Power submitted its equitisation plan approved by the Ministry of Industry and Trade to the prime minister for approval. The plan was approved at the end of June 2017. Previously, in June … [Read more...]