Once the National Assembly approves the switching of investment format of the North-South Expressway to public investment, the Ministry of Transport (MoT) will open bidding in September so that the project can be kicked off in October or November this year.
Right after the National Assembly Standing Committee agreed to submit to the NA for consideration a proposal to transform three sub-projects of the North-South Expressway from the model of private-public partnership (PPP) to public-funded form, experts said the method may be more suitable and effective.
The Government has proposed to the National Assembly three options for transforming investment models at sub-projects of the Eastern North-South Expressway for consideration.
The National Assembly (NA) Standing Committee will put forward and comment on a report on a draft law on investment in the form of a Public-Private Partnership (PPP) during a session on May 26.
The Ministry of Transport will put component projects of the North-South Expressway out to bid, Minister Nguyen Van The told the Vietnam News Agency on April 14.
Three component projects of the North-South Expressway master plan are expected to be shifted from the private-public partnership model to the public investment model.
The acceleration of investment disbursement for transport infrastructure projects is extremely important as the economy has been heavily affected by the COVID-19 epidemic, Prime Minister Nguyen Xuan Phuc said at a meeting of the Government’s standing board in Hanoi on March 12.
The Government has prepared a backup plan to fund the North-South Expressway (NSE) amid fears that private investors might not be financially capable of carrying out the mega project, the transport minister has said.
The Ministry of Planning and Investment has proposed withholding investment next year for projects that had been slow to disburse their allocated funding in 2019.
Domestic investors find it hard to carry out the North-South expressway project, and they are waiting for the Government and the State Bank of Vietnam to remove capital bottlenecks.
A ceremony was held on September 16 in Cam Hieu commune, Cam Lo district of the central province of Quang Tri to launch the construction of Cam Lo-La Son section on the major North-South Expressway.
The competitive bidding of the North-South Expressway project aims to select the investor transparently, while closely managing the quality, construction cost and progress of the project.
Minister of Transport Nguyen Van The was confronted with hot issues at the question-and-answer (Q&A) session of the ongoing 36th meeting of the National Assembly Standing Committee in Hanoi on August 15.
Many investors from the Republic of Korea, Japan and China are looking to join the North-South Expressway project, according to Deputy Minister of Planning and Investment Vu Dai Thang.
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