On November 13, speaking with Lao Dong Newspaper, Mr. Nguyen Cao Son - Vice Chairman of Ninh Binh Provincial People's Committee said that the Ninh Binh - Hai Phong Expressway Project is 117km long, passing through Ninh Binh province about 26km, Nam Dinh and Thai Binh about 62km, Hai Phong 29km. The section from Nam Dinh province to Thai Binh is implemented under the PPP method, while the section through Ninh Binh province is invested with budget capital.
According to Mr. Son, according to the traffic network planning, the Ninh Binh - Hai Phong expressway (the whole route is coded as CT.08) is approved for investment in the form of PPP.
However, after more than a year of implementing the preparation steps, the investment procedures under the PPP form have some difficulties. The total length of the route is up to 117km, so if investing under the PPP form, the capital recovery time is too long, so investors cannot do it and it is not feasible.
Therefore, it is necessary to submit to the National Assembly to change the investment form, dividing the project into 3 sections. Of which, the section through Ninh Binh and Hai Phong provinces is invested by the central and local budgets. The section through Thai Binh and Nam Dinh provinces is invested by the PPP form.
"According to regulations for central projects, the central budget is used for investment. However, in the medium-term public investment of the central government and the Ministry of Transport, there are not enough resources, so it is necessary to submit to the National Assembly to issue a resolution to pilot a number of specific policies in the implementation of the Ninh Binh - Hai Phong expressway project, the section through Ninh Binh. Accordingly, Ninh Binh province is allowed to participate in contributing capital to the implementation of the central project" - Mr. Son said.
According to Mr. Son, after the National Assembly issued a Resolution on piloting a number of specific policies, the Prime Minister delegated authority to the People's Committee of Ninh Binh province to be the competent authority to invest in the Ninh Binh - Hai Phong expressway project, the section passing through Ninh Binh province. The People's Committee of Ninh Binh province submitted to the Provincial People's Council and issued a Resolution on the investment policy for the construction of the Ninh Binh - Hai Phong expressway, the section passing through Ninh Binh province with a total investment of over 6.8 trillion VND from the central and local budgets. Of which, the local budget is 2,000 billion VND.
"The completion of the Ninh Binh - Hai Phong expressway, the section through Ninh Binh, in addition to ensuring synchronous connection of the entire expressway from Ninh Binh to Hai Phong, also creates momentum for socio-economic development of the area south of Hanoi, the Red River Delta and the North Central region," Mr. Son shared.
