A section of Trung Luong-My Thuan expressway. (Photo: vneconomy)
On March 18, the Government Office announced the prime minister’s directive to remove obstacles to the project’s execution. Accordingly, the Government leader also agreed to continue executing the project under the build-operate-transfer (BOT) format, Saigontimes reported.
In order to shorten the duration of payback and toll collection, part of the State budget will be poured into deploying the BOT project. The State budget must be used for the project in a transparent manner and in line with prevailing regulations to prevent possible losses, corruption and group interest.
Besides, the PM also agreed to shift the approval of a feasibility report for the project from the MoT to the Tien Giang People’s Committee. Relevant ministries, agencies and the State Bank of Vietnam were asked to coordinate with Tien Giang to speed up the project.
Tien Giang People’s Committee was told to guide investors on reviewing financial resources in consideration of the State budget, in accordance with legal regulations on management and use of public assets.
The prime minister also asked the Ministry of Transport, other relevant ministries and agencies, the Tien Giang government and investors to be more proactive in resolving difficulties affecting the project’s execution to accelerate its progress, allowing the expressway to be put into operation by the end of next year.
Meanwhile, smooth coordination must take place between the Ministry of Planning and Investment and the Ministry of Finance to map out a State budget scheme for the project before submitting it to the PM prior to March 20.
Further, the Investigative Police Agency, under the Ministry of Public Security, was assigned to coordinate with other competent agencies to investigate Yen Khanh Trade Production and Service Company, a developer of the Trung Luong-My Thuan expressway project, and impose strict penalties if any violations are discovered.
All firms involved in the progress have to put forth overall progress and execution measures for the project which have to receive consistent support from the MoT and the provincial committee. Additionally, the overall progress and execution measures must be reported to the Government.
Trung Luong - My Thuan expressway is expected to be an extremely significant bridge linking the Mekong Delta region to Ho Chi Minh City and other economic hubs across the Southern region. Reportedly, MoT has directed investors and stakeholders to deploy 96 percent of the site clearance process.
The long-delayed Trung Luong-My Thuan expressway project was restarted in February 2015 and was expected to be completed in 2018. However, the project has moved at a snail’s pace over the last four years, so the deadline for completion has been moved to December 2020.
However, the expressway project has been suffering from delayed progress due to difficulties in capital mobilization, amendments to institutional and legislative regulations on the management and use of public assets, public private partnership-related policies and the investors’ capacity.
The four-lane expressway will be some 51 kilometers long, with 4.5 kilometers of access roads, running through five outlying districts of the Mekong Delta province of Tien Giang. It will start at the intersection of Than Cuu Nghia T-Junction and HCMC-Trung Luong Expressway and end at the intersection with National Highway 30.
The expressway, when in place, is expected to shorten the distance and travel time between HCMC and the Mekong Delta provinces, bolster the socioeconomic growth of Vietnam’s southwest region and reduce traffic congestion on National Highway 1.
