The proposal aims to shorten the project duration and the processing time for project procedures in accordance with current regulations.
After the project is completed, it will be handed over to Vietnam Expressway Development Investment Corporation (VEC).
The Ministry of Construction has also proposed the Prime Minister delegate the Ministry of Finance to add the project to the list of projects funded by the increase in the State budget for 2024, with a cost of VND15,030 billion (US$587 million).
Previously, the Ministry of Transport and the Commission for the Management of State Capital at Enterprises (CMSC) agreed on the plan to assign VEC to use self-raised funds to implement the project. The increase in VEC's charter capital has been approved by the National Assembly. However, there has not yet been any decision on dealing with debts related to the bonds issued by the Ministry of Finance. As a result, the use of funds raised by VEC to invest in the project has not yet been carried out.
