The report primarily focused on criteria arising from the nation's key project.
Accordingly, the Ho Chi Minh City People's Council approved a total investment of more than VND9,664 billion (US$381 million) for the project to dredge, improve the environment and build infrastructure for Xuyen Tam Canal passing through Binh Thanh and Go Vap districts.
This project is a critical and urgent work with significant social impact in terms of drainage, flood control, pollution treatment, environmental improvement, technical infrastructure completion and traffic connection to serve and improve the lives of people in the area.
However, during the project's implementation, the total investment increased owing to the issuance of new policies and laws such as the Land Law 2024, Housing Law 2023 and Real Estate Business Law, leading to higher costs for compensation, land clearance, support and resettlement. That leads to increasing investment.
Therefore, the project must undergo procedures to adjust the investment policy according to Decree No. 40/2020 and the Public Investment Law.
On September 27, 2024, the Ho Chi Minh City People's Council issued Resolution No. 79 to adjust the project investment policy, approving an increase in total investment from over VND9,664 billion (US$381 million) to over VND17,229 billion (US$679 million), an increase of over VND7,565 billion (US$298 million).
The Chairman of the Ho Chi Minh City People's Committee reported and proposed to the Prime Minister to consider and direct a report to the National Assembly at the year-end working session regarding the project's implementation situation owing to the criteria arising from the nation's key project.
