The National Assembly's Economic Committee today convened an expanded plenary session to discuss the implementation of the National Assembly's resolution on piloting specific mechanisms and policies for urban railway network development in Hanoi and Ho Chi Minh City. This resolution aims to mobilize all legal resources, accelerate project timelines, and optimize land resource utilization.
The Government's draft resolution encompasses six distinct policy groups, including: mechanisms for capital mobilization, streamlined investment procedures, the promotion of Transit-Oriented Development (TOD), the advancement of the railway industry, the facilitation of technology transfer and human resource training, and the establishment of specific regulatory frameworks applicable to Ho Chi Minh City.
Regarding capital mobilization, the draft resolution empowers the Prime Minister to adjust the annual plan for central budget capital, up to VND215,350 billion for Hanoi and VND209,500 billion for Ho Chi Minh City, during the investment preparation phase. Additionally, it allows for the mobilization of ODA capital and preferential loans without the requirement of a prior project proposal.
The draft resolution introduces significant reforms to investment procedures for urban railway projects. Notably, it exempts these projects from the traditional requirements for preparing, appraising, and deciding on investment policies. Furthermore, it grants the authority to directly appoint contractors for various aspects of the project, including consulting, non-consulting services, construction, and installation.
At the session, a majority of delegates backed the implementation of key policies outlined in the National Assembly's resolution on urban railway investment, emphasizing its role as the backbone of public transportation in both cities. However, they urged the Government to provide a clearer assessment of the benefits and challenges associated with the Transit-Oriented Development (TOD) model for urban growth.
