The Ho Chi Minh City Department of Justice has just sent a document to the Ho Chi Minh City Department of Finance on reviewing and advising on the BT contract payment plan for the nearly 10,000 billion VND tide prevention project.
According to a report by the Party Committee of Ho Chi Minh City People's Committee, there are currently 5 land plots that meet legal conditions to serve as a basis for payment to investors under the BT Contract and signed contract appendix.
The land plots include: No. 762 Binh Quoi (Binh Quoi ward), lot C8A Area A (Tan My ward), No. 232 Do Xuan Hop (Phuoc Long ward), No. 118B Tran Dinh Xu (Nguyen Cu Trinh ward) and No. 1005 Thoai Ngoc Hau (Hoa Thanh ward).
In addition, the city continues to review the legal status of 2 land plots, including land plot number 299 Dao Tri (Phu Thuan ward) and land plot in Phuoc Long B ward (old District 9). In case these two land plots do not meet legal conditions, relevant units must urgently propose two other land plots of equivalent value to replace and serve payment to investors.
According to the Ho Chi Minh City Department of Justice, in Official Dispatch No. 615/TTr-UBND dated May 21, 2026, the Ho Chi Minh City People's Committee proposed to the Standing Committee of the Party Committee of the Ho Chi Minh City People's Committee to consider the policy of removing the two land plots mentioned above from the BT Contract No. 2607/2016/HD-UBND and signed contract appendix due to insufficient legal conditions to pay investors.
At the same time, the city proposed to replace it with land plot No. 79B Ly Thuong Kiet (Tan Hoa ward) and land plot No. 257 Tran Hung Dao (Cau Ong Lanh ward).
Previously, in Resolution No. 212/NQ-CP dated July 21, 2025, the Government requested the Ho Chi Minh City People's Committee to pay project investors with land funds, ensuring compliance with the provisions of Resolution No. 98/2023/QH15 and Resolution No. 40/NQ-CP.
In Audit Conclusion No. 48/KTNN-TH dated April 6, 2026, the State Audit Office also requested the Ho Chi Minh City People's Committee to urgently determine the land fund for payment, the value of the land fund and the payment progress for the project. Payment can be made once or several times but must fully comply with legal regulations.
In particular, the State Audit Office emphasized that the value of the land fund to be paid must ensure the principle of equal price according to the provisions of Decree No. 69/2019/ND-CP. In case the land plots expected to be paid do not meet legal conditions or do not ensure the principle of equal price, the city needs to coordinate with investors to identify other land plots to replace.
On that basis, the Department of Justice requested the Department of Finance to study the audit results, compare them with current legal regulations to advise on a payment plan suitable to the actual situation of the project.
Currently, investors have restarted simultaneous construction at tide control culverts and many dyke sections. However, credit capital from the Bank for Investment and Development of Vietnam (BIDV) has not yet been disbursed due to incomplete legal procedures.
Early determination of the land fund for replacement payment will create conditions for BIDV to disburse credit capital for the project, thereby limiting loan interest costs and arising expenses, reducing the payment burden for the city budget, and ensuring the legitimate rights and interests of relevant parties.
Removing legal obstacles is also expected to accelerate the construction progress, helping the project to be completed no later than December 31, 2026 according to the set plan.
At a working session with the Standing Committee of the Ho Chi Minh City Party Committee on June 13, Politburo Member, Prime Minister Le Minh Hung requested relevant agencies to urgently remove all bottlenecks and bring the nearly 10,000 billion VND tide prevention project to completion in 2026.
