The Government Office has just issued a notice of the conclusion of Deputy Prime Minister Nguyen Hoa Binh, Head of Steering Committee 751 at the working session with the Ho Chi Minh City People's Committee on the results of handling difficult and problematic projects in the City.
For the project "Solving flooding caused by tides in Ho Chi Minh City area taking into account climate change factors (phase 1)", Deputy Prime Minister Nguyen Hoa Binh requested Ho Chi Minh City to urgently make payments to investors in accordance with the provisions of Resolution No. 212/NQ-CP of the Government issued on July 21, 2025, ensuring the harmony of interests between the State and investors; report to the Politburo on the implementation results.
The flood prevention project has a total investment of nearly 10,000 billion VND, and was started in 2016 under the BT (build - transfer) form.
By November 2020, the project had completed about 94% of the volume but had to temporarily suspend construction due to legal problems, especially procedures for paying land funds to investors.
According to Resolution 212/NQ-CP, Ho Chi Minh City is allowed to pay investors with land funds, ensuring compliance with Resolution 98 of the National Assembly, related legal regulations and Resolution 40/NQ-CP of the Government.
In case the value of the land fund is lower than the value of the project after excluding unreasonable costs, the difference will be paid with public investment capital managed by Ho Chi Minh City.
The project working group has proposed 5 land areas to include in the BT contract appendix, including: Land plot at 257 Tran Hung Dao (area of 2,374 m2, temporary value of more than VND 597 billion); land plot at 420 No Trang Long (66,800 m2, about 5,385 billion VND); Lot C8A - Area A, New Urban Area of South Ho Chi Minh City (5,500 m2, over 1,113 billion VND); land plot at 232 Do Xuan Hop (14,000 m2, over 930 billion VND); land plot at 762 Binh Quoi (36,800 m2, about 72.3 billion VND).
The total value of these 5 plots of land is more than VND 8,099 billion, equivalent to about 81.1% of the BT contract value.
However, up to now, the payment plan using land funds has not been finalized, causing the city to not be able to sign a contract appendix, and the investor to not be able to restart the project.
On December 11, the National Assembly passed a Resolution amending and supplementing Resolution 98 on piloting a number of specific mechanisms and policies for the development of Ho Chi Minh City, thereby creating a clear legal corridor to handle BT contracts signed before the PPP Law took effect but not yet completed payment.
According to the new resolution, investors are paid by land fund or public assets according to the Law on Management and Use of Public Assets; land fund recovered or land fund managed by the State according to the Land Law; or combining these types of land funds. In case the land fund is partly managed by a State agency, the Ho Chi Minh City People's Committee will reclaim the entire land to allocate or lease, without auctioning or bidding to select investors.
The Ho Chi Minh City People's Committee has the authority to decide on land funds for payment, negotiation and signing BT contract appendices with investors and project enterprises.
In case the BT contract has not been allocated or leased, the City will allocate or lease the land based on the value of the volume of the project that has been accepted and audited.
