VietNamNet Bridge – Deputy Prime Minister Trinh Dinh Dung has told the Ministry of Transport to publicize data of build-operate-transfer (BOT) projects which have been put into use and are under construction for State agencies and people to look at.

Illustrative image -- File photo

The Government Office announced Dung’s conclusion on BOT projects two weeks after a review conference on transport infrastructure projects implemented under the BOT format.

Dung stressed the need to strengthen the State control of construction investment. Particularly, BOT projects should be monitored in all stages, from preparation, design, project approval, construction to final checks in accordance with relevant regulations. The objective is to ensure the interests of the State, investors and users.

The Deputy Prime Minister requested investment capital of BOT projects to be determined exactly and the selection of investors to be made transparent.

Earlier, at the conference, HCMC Infrastructure Investment Joint Stock Co. (CII) proposed the Government and the ministry not tightly control the investment cost projection in BOT projects. Investment cost will be calculated based on an audited financial report to define the duration for toll collection in a project after it is complete.

However, Dung required BOT projects to be made transparent from the phase of preparation. Therefore, the ministry was told to review new and operational BOT projects to make timely adjustments and publicize details about such projects.

Nguyen Van Thanh, president of the Vietnam Automobile Transport Association (VATA), said investors of BOT projects must be compelled to make clear all information about cost, duration of toll collection, toll rates and toll hike plan.

The Government Inspectorate was assigned to check investment procedures, construction quality and toll collection of BOT projects in line with the prevailing regulations, and propose ways to deal with irregularities, if any.

Dung told the Ministry of Finance to review and adjust road fees and toll levels at BOT projects in accordance with the Government’s Resolution No. 35/NQ-CP of May 16, 2016 on supporting enterprises until 2020. The ministry will have to provide guidelines for fee management for transport projects to be implemented under the public-private partnership (PPP) format, BOT contract settlements and capital disbursements for firms which invest in the projects, and manage capital contribution.  

The State Bank of Vietnam should coordinate with ministries to find ways to raise funds for infrastructure development and tell commercial banks to evaluate BOT projects carefully before lending.

SGT