Focusing on solving problems in the implementation of projects along National Highway 5B

VCN –Minister of Finance Ho Duc Phoc had a working session with other ministries, agencies, localities and Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI) on March 31 about contents related to industrial parks and urban areas along National Highway 5B.
Regulation on management and payment for projects using public investment capital via State Treasury Regulation on management and payment for projects using public investment capital via State Treasury
Cabinet meeting looks into major transport projects Cabinet meeting looks into major transport projects
Many foreign investors expand electronic industry projects in Vietnam Many foreign investors expand electronic industry projects in Vietnam
Minister of Finance Ho Duc Phoc delivered a speech at the session.
Minister of Finance Ho Duc Phoc delivered a speech at the session.

Many difficulties lead to slow implementation of projects along National Highway 5B

This working session is to realize the direction of the Prime Minister in Document 10/TB-VPCP dated January 11, 2022 to discuss a number of contents related to projects of industrial parks and urban areas along National Highway 5B (Hanoi - Hai Phong National Highway) invested by VIDIFI.

The session was attended by representatives of the Ministry of Planning and Investment, the Ministry of Transport, the Ministry of Natural Resources and Environment, the Ministry of Construction, the Ministry of Industry and Trade, the Ministry of Justice and leaders of the People's Committees of Hanoi, Hung Yen, Hai Duong, Hai Phong as well as representatives of departments under the Ministry of Finance and representatives of VIDIFI.

Speaking at the session, Minister Ho Duc Phoc said under the direction of the Prime Minister on solving issues of VIDIFI, the Ministry of Finance had worked with the Development Bank and VIDIFI on content related to land use fees for the construction of industrial parks and urban areas, and worked with ministries, Government agencies and local agencies to report to the Prime Minister in order to solve outstanding problems.

The minister said that in the past, when building the Hanoi - Hai Phong highway, there were a number of financial mechanisms attached. This is the fund for VIDIFI to build the highway. However, that mechanism has not been executed due to many reasons, so VIDIFI has faced many difficulties.

The mechanism was not executed because the State Budget Law stipulated that 100% of the land use levy will contribute to the local budget, but the financial mechanism for the project provided that the land use levy will be paid to VIDIFI. This makes it difficult to resolve conflicts of law.

The Minister said to ensure the development of localities, attract investment, and develop industrial and urban areas, we must comply with the provisions of the law, and completely solve difficulties and obstacles.

This session aims to create unity and consensus among units and localities. After the meeting, the Ministry of Finance will report to the Prime Minister.

At the meeting, the representative of VIDIFI presented the investment process in the Hanoi - Hai Phong highway project, the financial plan, and the implementation of the State's commitments to the project according to Decision 746/QD-TTg 2015.

Regarding the implementation of projects of industrial zones and urban areas along the Hanoi - Hai Phong highway according to Decision 1621/QD-TTg dated November 29, 2007, VIDIFI said that in Hanoi, the Gia Lam urban area has been basically completed, enterprises have paid land use fees (VND5,384.99 billion) of the project to the Hanoi budget.

In Hung Yen province, the industrial zones of which 1/2000 planning has been approved have completed other procedures and only lack documents proving the equity to submit to the competent authorities for a decision on investment policy.

In Hai Duong province, for Hoang Dieu Industrial Park and Hung Dao Industrial Park, VIDIFI is hiring consultants to define boundaries to make 1/2000 planning. Gia Loc Urban Area is located far from the center and the traffic infrastructure connection is not convenient, so VIDIFI is suspending the implementation.

In Hai Phong City, Cau Cuu Industrial Park has been submitted to the Ministry of Planning and Investment for investment policy appraisal. Hung Dao Urban Area and Trang Cat Urban Area (Nam Hai) have been approved for the detailed planning task of a 1/500 scale. Quang Trung Urban Area is not in accordance with the planning orientation of Hai Phong, so the preparation for investment is not carried out.

At the meeting, VIDIFI's representative also mentioned financial difficulties, financial mechanisms, geographical location and experience in investment, business, and infrastructure distribution in industrial zones.

Therefore, VIDIFI is unable to deploy the assigned projects of industrial zones and urban areas assigned.

Coordination to quickly solve problems and difficulties

VIDIFI’s representative also proposed ministries, Government agencies and local agencies offer solutions related to mechanisms and policies to overcome difficulties and obstacles.

For example, proposing ministries and agencies to continue reporting to competent authorities to pay the due principals of foreign loans; approve the roadmap and plan to increase road tolls on the two highways Hanoi - Hai Phong and National Highway 5, to help VIDIFI improve the financial situation, recover capital and pay debts to the Development Bank.

At the same time, VIDIFI proposes the Ministry of Finance to report to the Prime Minister to allow the Development Bank to apply solutions to reduce interest rates and extend debt payment for projects and borrowers at the Development Bank as a mechanism that has been applied by commercial banks so that the Development Bank has conditions to consider and reduce lending interest rates for VIDIFI.

If the Prime Minister and the competent authorities assign the People's Committees of the provinces and cities to select other investors to deploy the industrial zones and urban areas, VIDIFI proposes that the ministries and agencies should report to the Prime Minister to direct the People's Committees of the provinces and cities of Hung Yen, Hai Duong and Hai Phong to have a plan to reimburse the costs of investment preparation in the urban areas and industrial zones for VIDIFI and project companies.

At the meeting, representatives of ministries and agencies, provinces and cities gave their opinions on the issues mentioned by VIDIFI.

Closing the session, Minister Ho Duc Phoc said that the Hanoi - Hai Phong highway has made a strong contribution to the country's economic development, especially at the eastern growth pole and the five provinces and cities in this area have benefited a lot from this highway.

Recognizing the pioneering spirit of VIDIFI in the development of the country, the Minister said that ministries, Government agencies and local agencies must share difficulties in the spirit of common interests and law to offer solutions to help the company.

The Minister said that he would report to the Prime Minister to propose solutions to remove difficulties, in which, he would consider proposing the Prime Minister withdraw the decision on assigning VIDIFI as the investor of the above nine industrial zones and urban areas and assign industrial zones and urban areas to provinces and cities to attract investors for local socio-economic development.

Reducing the total number of public investment projects in the 2021-2025 period to less than 5,000 Reducing the total number of public investment projects in the 2021-2025 period to less than 5,000

VCN - According to Decision No. 1845/QD-TTg promulgating the Government's master plan on thrift practice and combating ...

The Minister suggested that the provinces and cities request new investors, after winning the project auction, to refund to VIDIFI the costs for project development.

"It is necessary to make efforts to coordinate and support each other to quickly solve problems and difficulties of the enterprise," said the Minister.

By Hoai Anh/ Huyen Trang

Related News

Deputy Minister of Planning and Investment Tran Quoc Phuong: Considering every opportunity to achieve your goals at the best level

Deputy Minister of Planning and Investment Tran Quoc Phuong: Considering every opportunity to achieve your goals at the best level

VCN - In the first seven months of the year, Vietnam's economy faced many domestic and international difficulties, which put great pressure on growth in 2023 and the remaining half of the term of the Great Reputation of the 13th National Party Congress. According to Deputy Minister of Planning and Investment, Mr Tran Quoc Phuong, Resolution No. 105/NQ-CP prioritized promoting growth in maintaining macroeconomic stability, controlling inflation, and focusing on solutions to promote growth, trying to achieve the highest possible goals.
Removing financial access challenges and supporting export-import businesses in the new situation

Removing financial access challenges and supporting export-import businesses in the new situation

VCN - On August 30, the General Department of Customs, in collaboration with the Academy of Finance, organised a national seminar with the theme: "The role of finance in supporting export-import businesses in the new situation."
Managing corporate bond market to develop sustainably

Managing corporate bond market to develop sustainably

VCN - On August 18, 2023, Minister of Finance Ho Duc Phoc, Head of the Prime Minister's Working Group on stabilizing the stock market and corporate bond market chaired the fourth meeting of the working group. Attending the meeting were the group’s members including leaders some ministries and agencies and the assistance team of the group.
Ministry of Finance, Ministry of Public Security strengthen coordination to ensure national financial security

Ministry of Finance, Ministry of Public Security strengthen coordination to ensure national financial security

VCN - On the afternoon of August 14, 2023, the Ministry of Finance and the Ministry of Public Security jointly held a conference to strengthen cooperation in combating smuggling, trade fraud and other areas under the management of the Ministry of Finance. The conference was jointly chaired by Minister of Finance, Ho Duc Phoc and Minister of Public Security, General To Lam.

Latest News

BIS pledges support for Vietnam in banking infrastructure development, digital transformation

BIS pledges support for Vietnam in banking infrastructure development, digital transformation

The Bank for International Settlements (BIS) will continue to accompany and support the State Bank of Vietnam (SBV) in investing in payment and financial infrastructure development and promoting digital transformation, contributing to improving risk management in the local banking sector, stated BIS General Manager Agustin Carstens.
Removing barriers and difficulties for businesses is a top political task

Removing barriers and difficulties for businesses is a top political task

VCN – The leaders of the Ministry of Finance requests heads of units under the Ministry to fully and effectively implement resolutions, guidelines and policies of the Party and State on encouraging business development; protecting the legal property ownership rights and freedom in business of people and businesses according to the Constitution and law.
General Department of Taxation provides training course on digital transformation

General Department of Taxation provides training course on digital transformation

VCN – On September 20, the General Department of Taxation organized a training course on digital transformation for tax officers. Contents of the training course include an overview of digital transformation; national digital transformation program; digital transformation plan of the Ministry of Finance and Vietnam Tax sector.
Export difficulties affect budget revenue

Export difficulties affect budget revenue

VCN - The economic situation in the first 8 months of the year faced many difficulties and challenges, which affected the implementation of financial and budgetary tasks. According to the Ministry of Finance, budget revenue in the first 8 months of the year decreased compared to the same period in 2022. In that context, the Finance sector will have to make every effort to ensure completion of tasks in 2023.

More News

Transferring 10 million VND may require biometric authentication

Transferring 10 million VND may require biometric authentication

It is expected that biometric authentication such as fingerprint, iris, or facial recognition will be mandatory for money transfers exceeding the minimum level, possibly starting from 10 million VND (410.93 USD), said Deputy Head of the State Bank of Vietnam (SBV)’s Payment Department Le Anh Dung at a September 19 seminar on protecting bank accounts from increasing online fraud risks.
Remove problems for enterprises in using e-invoices and documents

Remove problems for enterprises in using e-invoices and documents

VCN – The amendment and supplementation of Decree No.123/2020/ND-CP regulating invoices and documents aims to implement the Party’s policies and guidelines on building e-Government towards Digital Government and Smart Government, removing difficulties for enterprises in using e-invoices and documents, reforming administrative procedures, providing solutions to prevent origin-related frauds and in accordance with international practices, the Ministry of Finance said.
Derivatives transaction soars in August

Derivatives transaction soars in August

VCN – Along with the excitement in the underlying market, transactions of the derivatives market in August 2023 also surged compared with the previous month.
Banks lower deposit interest rates to COVID-19 levels

Banks lower deposit interest rates to COVID-19 levels

Two more State-run commercial banks, Vietinbank and BIDV, on September 19 lowered their deposit interest rates matching the lowest level recorded during the COVID-19 pandemic.
Many real estate enterprises to be inspected by tax agency

Many real estate enterprises to be inspected by tax agency

VCN - The General Department of Taxation has just issued a decision approving the specialized inspection plan for 2023. According to the list of businesses attached to this decision, there are 42 enterprises in many industries under the management of eight tax departments and the Large Enterprises Tax Department (General Department of Taxation).
MoF deploys 6 key tasks in economic diplomacy work

MoF deploys 6 key tasks in economic diplomacy work

VCN - The Ministry of Finance has just issued Decision No. 1934/QD-BTC approving the Action Plan to implement Resolution No. 21/NQ-CP promulgating the Government's Action Program for the period 2022 - 2026 to implement the Directive No. 15-CT/TW of the Secretariat on economic diplomacy work to serve national development until 2030.
Capital questions for the import-export sector

Capital questions for the import-export sector

VCN - Credit capital flow is always evaluated as one of the "pedestals" to revive the import-export sector quickly. However, just having cash flow is not enough.
Financial policies effectively impact all aspects of economy

Financial policies effectively impact all aspects of economy

VCN - Dr Le Duy Binh, CEO of Economica Vietnam, spoke to Customs Magazine about the impact of financial policies to support businesses and people from the beginning of the year.
Ministry of Finance answers voters about on-the-spot imported goods for export production

Ministry of Finance answers voters about on-the-spot imported goods for export production

VCN - According to the Ministry of Finance, imported goods for processing and imported goods for export production have differences in ownership.
Read More

Your care

Latest Most read
BIS pledges support for Vietnam in banking infrastructure development, digital transformation

BIS pledges support for Vietnam in banking infrastructure development, digital transformation

The Bank for International Settlements (BIS) will continue to accompany and support the State Bank of Vietnam (SBV) in investing in payment and financial infrastructure development and promoting digital transformation, contributing to improving risk management in the local banking sector, stated BIS General Manager Agustin Carstens.
Removing barriers and difficulties for businesses is a top political task

Removing barriers and difficulties for businesses is a top political task

VCN – The leaders of the Ministry of Finance requests heads of units under the Ministry to fully and effectively implement resolutions, guidelines and policies of the Party and State on encouraging business development; protecting the legal property owner
General Department of Taxation provides training course on digital transformation

General Department of Taxation provides training course on digital transformation

VCN - At the opening of the training course, Deputy Director of Reform and Modernization Board Hoang Thi Lan Anh said that digital transformation is the use of data and digital technology to reform working method aiming to improve management efficiency an
Export difficulties affect budget revenue

Export difficulties affect budget revenue

VCN - In the first 8 months of 2023, total state budget revenue is estimated to reach 1,124.5 trillion VND, equal to 69.4% of the estimate, down 8.8% compared to the same period in 2022. Domestic revenue is estimated to reach nearly 931 trillion VND, equa
Transferring 10 million VND may require biometric authentication

Transferring 10 million VND may require biometric authentication

It is expected that biometric authentication such as fingerprint, iris, or facial recognition will be mandatory for money transfers exceeding the minimum level, possibly starting from 10 million VND (410.93 USD), said Deputy Head of the State Bank of Vietnam (SBV)’s Payment Department Le Anh Dung at a September 19 seminar on protecting bank accounts from increasing online fraud risks.
Mobile Version