The Minister of Construction talks about private investment in railway development

PHẠM ĐÔNG |

The Minister of Construction said that there should be no need to worry about the possibility of private investors being sold to foreign countries when allowing them to participate in railway development.

On the afternoon of June 18, the National Assembly discussed in the hall the draft Law on Railway (amended).

Speaking, Minister of Construction Tran Hong Minh said that the investment and construction of national railway and urban railway projects in the past has shown many difficulties and problems.

According to the Minister, this reality requires the completion of the legal corridor system to remove obstacles, in which, it is necessary to add 23 specific policies and mechanisms for the development of the railway system to the draft Law on Railway (amended) and approve at this session.

Clarifying the opinions of delegates, the Minister said that the draft law proposes to stipulate shortening investment procedures, allowing the simultaneous implementation of a number of project preparation tasks, establishing a comprehensive technical design (FEED) instead of basic design... to speed up the implementation of railway projects, while saving time and costs in implementation.

Regarding the policy of developing the TOD model, the Minister said that it will bring double benefits. On the one hand, it contributes to urban planning, optimizing land use efficiency. On the other hand, it helps create revenue for the state budget from land to invest in the development of the socio-economy in general, including the development of the railway system.

The TOD model also contributes to opening up economic development space along the railway line, increasing development opportunities, and ensuring the lives of people around the railway area.

Regarding the policy on railway industry development and technology transfer, the Minister assessed that this is a highlight of the draft law, promptly institutionalizing the direction of the leaders of the Party, State and Government on industrial development and technology transfer in the railway sector towards self-reliance, self-reliance and self-reliance.

Another content that many delegates are interested in is the investment in railway projects from non-state budget sources. According to Minister Tran Hong Minh, this is to institutionalize Resolution 68 of the Politburo on private economic development.

This regulation will open up opportunities for the private sector and mobilize private resources for investment in railway development. Thereby contributing to reducing the pressure on the state budget for capital allocation for this sector.

The draft law also clearly stipulates the role of State management in approving the standards framework to control technology, maintain the authority of specialized agencies on construction, appraisal, inspection, and quality acceptance of works.

Therefore, the Minister said that there should be no need to worry about the project being sold to foreign countries when allowing the private sector to participate in railway development investment. Because every year, there are still audit data from the State Audit.

According to him, this is also the first time that regulations on policies on preventing and combating corruption, waste and negativity have been included in specialized laws, with the mindset of both unblocking and resolving them but also lacking institutions for supervision, publicity and transparency.

Including regulations that when bidding or appointing bids, there must be the participation of representatives of agencies such as the Ministry of National Defense, the Ministry of Public Security, the State Inspectorate, and the State Audit. On the other hand, participating organizations and individuals are also subject to the regulation of other laws, including the Penal Code.

PHẠM ĐÔNG
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PHẠM ĐÔNG |

National Assembly delegate Hoang Van Cuong is concerned about the situation where investors propose to build a railway but in fact, to develop the TOD project is the main goal.

Encourage organizations and individuals to participate in investing in railway projects

PHẠM ĐÔNG |

The draft Law on Railway (amended) adds specific mechanisms and policies, creating a breakthrough legal corridor for railway development.

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