Continuing the 9th Session, on the morning of June 16, Minister of Construction Tran Hong Minh, authorized by the Prime Minister, presented the Submission (supplement) of the draft Law on Railway (amended).
In particular, the content of the draft Resolution on specific mechanisms and policies for investment in the development of the railway system has been legalized in 20 Articles of the draft law. Of the 23 specific policies in the draft Resolution, there are 4 policies stipulated in the draft law submitted earlier.
Notably, the draft law adds provisions to encourage organizations and individuals to participate in investing in railway projects using non-state capital according to the provisions of the law on investment.
Supplement credit incentives for organizations participating in railway business activities; incentives on corporate income tax rates for enterprises investing in, developing the railway industry, and trading railway infrastructure.
Domestic organizations and individuals participating in railway projects are also exempt from import tax for goods serving the project that have not been produced domestically or cannot be produced but do not meet the requirements of the project's technical standards.
Minister Tran Hong Minh said that the draft law has a separate chapter regulating investment in railway construction on the basis of adding 18 policies in the draft Resolution that have been agreed upon by competent authorities.
Including regulations on: Planning adjustment; Resource mobilization and capital allocation; investment procedures for railway projects; contract management; investment cost management; compensation, support, and resettlement; dumping site and exploitation of minerals for construction materials; development of science, technology and training for human resource development; industrial development and technology transfer; ensuring prevention and control of corruption, waste, and negativity; investment in railway projects using non-state capital.
Regarding resource mobilization and capital allocation, it is supplemented with regulations assigning the Prime Minister to decide on the diverse use of capital sources such as issuing government bonds, capital to support official development, foreign preferential loans, increased revenue and savings sources... for investment in railway development projects.
At the same time, it is allowed the provincial People's Committee to decide on technical indicators and land use indicators to optimize the efficiency of land use in the TOD area.
Regarding the order and procedures for investing in railway projects, supplement regulations that the competent authority deciding on investment is allowed to decide to divide the project into component projects and sub-projects during the process of establishing construction investment projects.
Urban railway projects and projects under the TOD model do not have to carry out procedures for establishing, appraising, deciding on investment policies and other procedures related to investment policy decisions.
The Provincial People's Committee shall decide to adjust the project in case the project arises changes in the target, location, and exceeds the investment capital.
The draft law supplements the regulation to apply the system of norms, construction prices, investment capital, cost levels, cost data announced by domestic and foreign organizations or of similar domestic and foreign projects and to be converted to the time of calculation.
