On June 23, Politburo Member, Standing Deputy Prime Minister Pham Gia Tuc worked with the Ho Chi Minh City People's Committee and relevant ministries and sectors on solving difficulties and obstacles of the project to solve tidal flooding in the Ho Chi Minh City area (phase 1).
According to the city's report, the project to solve tidal flooding in the Ho Chi Minh City area (phase 1) sets a target, phase 1 will control flooding of about 570km2 with a population of about 6.5 million people through a tide-blocking culvert system combined with a dyke along the Saigon River. The project is implemented in the form of construction-transfer (BT).
To date, the investor (Trung Nam Group) has completed over 93% of the project volume, of which structural items have been completed, and the mechanical part and control system as well as auxiliary works and landscapes are being completed. In the first quarter of 2026, the investor has test-operated Ben Nghe culvert, achieving good quality.
According to the plan, Tan Thuan and Phu Xuan culverts will be completed in the second quarter of 2026, Cau Kinh and Ba Buom culverts will be completed in the third quarter of 2026, and Phu Dinh, Cay Kho, Muong Chuoi culverts and embankments, equipment system, control center and synchronous operation will be completed in the fourth quarter of 2026.
The lack of unified payment methods, coupled with difficulties in mobilizing financial resources from investors, risks affecting the project completion target in 2026.
At the meeting, leaders of the Ministry of Finance, Justice, State Bank, Construction, State Audit, Public Security, Government Inspectorate... exchanged and affirmed that there is a full legal basis for the implementation of payments under the BT Contract signed between Ho Chi Minh City and the investor.
The two parties need to review, agree, and unify the content and method of payment in accordance with legal regulations and signed contracts.
Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc said that along with solving difficulties and obstacles in payment issues, Ho Chi Minh City has also worked with banks to agree to create conditions for investors to continue to borrow capital to complete the project on schedule in 2026.
Representatives of the investor committed that after resolving problems with payment methods, the remaining items of the project will be completed and put into operation within 60 days. The investor also said that the construction warranty period has been increased to 3 years.
Concluding the working session, Standing Deputy Prime Minister Pham Gia Tuc emphasized the urgent requirement to complete the project to resolve tidal flooding in the Ho Chi Minh City area (phase 1) in 2026 in accordance with the direction of General Secretary and President To Lam.
Through the opinions of ministries, branches and related agencies, the Standing Deputy Prime Minister said that it can be affirmed that the legal basis for handling problems related to the payment method of the project is complete.
Therefore, the Ho Chi Minh City People's Committee needs to proactively resolve and decide on the payment plan in accordance with its authority and legal regulations and be fully responsible in the process of organization and implementation.
The Ho Chi Minh City People's Committee and investors need to continue to exchange and agree on payment methods in accordance with the law to implement immediately, avoiding prolonging the processing time when the legal basis is clear and the opinions and guiding documents are also complete.
