On August 12, at the First Extraordinary Session, the National Assembly discussed in the hall the adjustment of the investment policy of the Lao Cai - Hanoi - Hai Phong railway line construction investment project (the project).
Participating in the discussion, delegate Ta Thi Yen (Delegation of National Assembly Deputies of Dien Bien province) said that after adjustment, the preliminary total investment of the project increased from about 203,000 billion VND to 289,000 billion VND (an increase of 42.4%).
Capital demand in the 2026 - 2030 period is about 224,600 billion VND, while the medium-term public investment plan currently only allocates about 148,500 billion VND.
This delegate said that this is not just a story of mobilizing enough capital for construction. After completion, operating and maintenance costs and long-term debt repayment obligations will also arise.
Therefore, the delegate proposed that, right at the feasibility study stage, it is necessary to form a financial plan for the entire project life cycle, including revenue, operating - maintenance costs, compensation sources, debt repayment obligations and scenarios when loans are slow to arrange or transportation output is lower than forecast.
A project is only truly feasible when it not only mobilizes enough capital for construction, but also calculates resources for operation, maintenance and debt repayment throughout the exploitation process.
If it is not fully quantified from the beginning, the shortage may still become a pressure on the State budget later," delegate Ta Thi Yen said.
Agreeing with this view, delegate Nguyen Ngoc Son (National Assembly Delegation of Hai Phong City) said that the preliminary total investment increased by 86,108 billion VND, equivalent to 42.4% compared to the level approved by the National Assembly.
The delegate proposed to continue to determine specific responsibilities for the costs incurred due to subjective causes and establish a binding control mechanism in the implementation process.
Regarding the capital source level and capital structure, delegates agreed that flexibility is needed. However, when the total investment increases by 42.4% and the remaining shortage cannot be identified, keeping the regulations on capital sources at a general level will reduce the basis for the National Assembly to assess budget obligations and debt repayment obligations.
It is proposed that the Resolution must at least define the principles of capital mobilization, limit state budget obligations and report to the National Assembly when the capital structure changes, increasing debt repayment obligations or affecting the balance of national resources" - delegate Son stated.
Meanwhile, delegate Duong Minh Tuan (Delegation of National Assembly Deputies of Ho Chi Minh City) requested to clarify the technology and localization rate of the railway project.
Regarding technology solutions, in Clause 3, Article 1 of the draft Resolution, according to the initial policy, the entire main route, 390km long, and branch sections all apply electrification technology.
According to the adjustment plan, the main line continues to use electricity technology, while most of the branch sections switch to using diesel locomotives.
Mr. Tuan noted that although the total length of the branch sections according to the new plan is determined to be 62.9km, the submission has not specifically separated how many km run on electricity and how many km run on diesel.
This is a very important content, deciding whether to increase or decrease the total investment and economic efficiency, but the submission has not specifically determined. Therefore, it is very necessary for the Ministry of Construction to inform and clarify this content" - delegate Tuan said.
