At the fourth session of the 11th Ho Chi Minh City People’s Council on the morning of August 27, the municipal People’s Committee submitted a proposal to the People’s Council seeking approval of two land sites for settling the BT contract of the city’s Phase 1 tidal flood control project, which takes climate change into account.
The sites, covering about 2.9 hectares and 0.23 hectares, are located at 79B Ly Thuong Kiet Street in Tan Hoa Ward and 257 Tran Hung Dao Street in Cau Ong Lanh Ward, respectively.
Both are managed by State agencies or organizations and are eligible for inclusion in the land fund designated for BT contract settlement.
The new land sites are proposed to replace two previously selected sites, a more than 4.2-hectare plot in Phuoc Long Ward and another at 299 Dao Tri Street in Phu Thuan Ward, because the latter no longer meet the conditions for BT contract payment.
The project to address tidal flooding in Ho Chi Minh City, taking into account climate change factors, was carried out under a BT contract signed in 2016. However, difficulties encountered during implementation have led to prolonged delays.
The municipal People’s Committee has said that the outstanding issues must be urgently resolved to ensure the project is completed and put into operation in 2026.
The project is a major priority for the city and is expected to help tackle tidal flooding amid worsening climate change and rising sea levels.
After the Ho Chi Minh City People’s Council gives its approval, the municipal People’s Committee will proceed with procedures to settle the BT contract in line with regulations.
The municipal Party Standing Committee had previously agreed in principle to the plan, directing relevant agencies to urgently finalize the necessary documents and complete all required procedures before submitting the proposed addition of land parcels to the BT payment list to the People’s Council for approval ahead of the signing of the contract appendix.
Final payment value to be based on specific land prices
According to the submitted documents, the BT contract settlement plan involves using the five land parcels specified in the existing contract, while adding two new parcels to replace sites that are no longer eligible. The arrangement is intended to ensure that the total value of the land used for payment does not exceed the value of the BT project or the value of completed work as determined and finalized by competent authorities.
The final value of the land used for settlement will be determined based on specific land prices set by competent authorities.
If the total value of the land fund is lower than the BT contract value, the difference will be paid in cash in accordance with regulations.
Conversely, if the total value of the land fund exceeds the BT contract value, the area or scope of land used for settlement will be adjusted accordingly to ensure that the total payment matches the contract value and prevent any loss of public assets.
