The Ho Chi Minh City People's Committee has just approved the proposal of the Department of Finance and related departments and branches, assigning Vingroup Corporation to study and prepare a Report on the investment proposal for the project to build a sea-crossing road connecting Can Gio with Ba Ria - Vung Tau, and submit it to competent authorities for consideration, appraisal and approval according to the provisions of the Law on Investment under the public-private partnership (PPP Law) and current legal regulations.
Vingroup will balance its own budget (not using the City budget) to research and prepare a Report on investment policy proposals. The deadline for completing the dossier is 12 months from the date of issuance of the document.
In case after appraisal, the report is not approved by the competent authority, or after the 12-month deadline, the investor has not completed it, the research assignment will automatically expire. At that time, Vingroup will cover all the costs and will not be sued for any reason.
During the research process, Vingroup was required to fully absorb professional comments from departments and branches, ensuring that the research products are of good quality, effective and in accordance with the guidelines and policies of the Party and State; at the same time, agree with the general orientation, planning and traffic planning of Ho Chi Minh City (after the merger) approved by competent authorities.
Vingroup's research results can be transferred to Ho Chi Minh City as a database to serve the next implementation steps if necessary.
Ho Chi Minh City emphasized that assigning Vingroup to prepare documents does not mean appointing this enterprise as the investor to implement the project. After completing the research step, the City will organize the selection of investors in accordance with legal regulations.
The Ho Chi Minh City People's Committee also assigned the Department of Construction, the Department of Planning and Architecture, the Department of Agriculture and Environment, the Department of Finance and related units to coordinate and support Vingroup in the survey and research process, ensuring the project is synchronous, effective and in line with the City's socio-economic development plan.
Can Gio is about 15 km from Vung Tau through Ganh Rai Bay. Currently, travel between the two areas is mainly by Can Gio - Vung Tau ferry, operating from 6am to 10pm every day, with ticket prices around 70,000 VND/trip.
If the sea route is implemented, it will significantly shorten travel time, while opening up a strategic connection axis between Ho Chi Minh City and Vung Tau (formerly) after the merger.
Previously, Vingroup Corporation sent a document to Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc, proposing to study and invest in the sea route connecting Can Gio - Vung Tau.
According to Vingroup, after Ba Ria - Vung Tau province merged into Ho Chi Minh City, the need to form a direct connection axis to the coastal area became urgent. The Can Gio - Ba Ria - Vung Tau area has a strategic location in terms of marine economy, ports, tourism and ecological urban areas, but the infrastructure is still limited, mainly dependent on ferries and routes.
Vingroup believes that investing in an overseas route will help shorten travel time, effectively connect functional areas, and at the same time create momentum for sustainable socio-economic development, trade and urban space.
Vingroup proposed to study the project investment under the BT (build - transfer) form.
Currently, Vingroup is investing in building Can Gio Sea Tourism Urban Area with an area of 2,870 hectares and a population of nearly 230,000 people.
Vingroup Corporation also proposed to build a central metro line of Ho Chi Minh City - Can Gio, extending to Ben Thanh Station to directly connect with Metro Line 1 (Ben Thanh - Suoi Tien), instead of stopping at Nguyen Van Linh Avenue as previously planned.
The Ho Chi Minh City People's Committee has established a Council for appraisal of investment approval documents and selection of investors for this metro line project proposed by Vingroup.
