On the afternoon of February 10, the National Assembly Standing Committee gave its opinion on the investment policy for the Lao Cai - Hanoi - Hai Phong railway project.

Presenting the report, Minister of Transport Tran Hong Minh said that the Government proposed the National Assembly to decide on the investment policy for this project. The starting point is at the cross-border rail connection between the new Lao Cai station and Ha Khau Bac station (China); the end point is at Lach Huyen wharf area (Hai Phong). The main line is about 390.9 km long and the 3 branch lines are about 27.9 km long.

Project implementation locations in 9 provinces and cities: Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Hanoi, Bac Ninh, Hung Yen, Hai Duong, Hai Phong.

Investment scale of the project to build a new electrified railway line, single track, 1,435 mm gauge, for general passenger and freight transport; main route section with design speed of 160 km/h; section through Hanoi hub area with design speed of 120 km/h; connecting routes and branch routes with design speed of 80 km/h.

The total preliminary investment of the project is about 203,231 billion VND (8.369 billion USD) from the state budget (central and local); domestic capital, foreign capital (borrowed from the Chinese Government) and other legal capital sources.

The Government will prepare a feasibility study report from 2025, strive to basically complete the Project by 2030 and recommend that the project be applied with a number of specific and special mechanisms and policies.

Overall assessment of effectiveness to minimize risks

Examining this content, Chairman of the Economic Committee Vu Hong Thanh said that according to the Government's proposal, the state needs to provide preliminary support of about 109.36 million USD in 5 years for infrastructure maintenance costs from the economic career capital allocated for the railway system, such as the current maintenance of national railway infrastructure.

In addition, the high-speed railway project on the North-South axis is expected to lose about 778 million USD in the first 4 years of operation. Thus, for these two projects alone, the government needs to provide initial support of about 887.36 million USD.

Therefore, the Economic Committee recommends that the Government evaluate the overall effectiveness of the railway projects it plans to invest in and carefully evaluate the financial plan and impacts during the project's operation and exploitation to minimize future risks.

Regarding capital sources, the appraisal agency believes that the project has a very large scale and total investment. In the medium-term period of 2021 - 2025, the capital demand for the project is about 128 billion VND, which has been balanced by the Government in the medium-term public investment plan.

In the period 2026 - 2030, capital demand is about 177,282 billion VND and in the period 2031 - 2035, capital demand is about 25,821 billion VND.

The Government recommends using domestic capital, foreign capital and other legal capital sources to implement the project.

Applying specific and special mechanisms and policies is very necessary.

According to Mr. Thanh, the specific and special mechanisms and policies proposed by the Government have been allowed to be applied by the National Assembly in the past and have been considered and commented on by competent authorities, so the Government's recommendations are well-founded.

However, the Economic Committee recommends that the Government, during the implementation process, must comply with the principles of ensuring macroeconomic balance and national public debt safety.

According to the appraisal agency, to ensure the feasibility and effectiveness of the project, it is very necessary for the Government to propose to the National Assembly to allow the application of a number of specific and special mechanisms and policies.

Regarding a supplementary policy such as adjusting relevant plans; simultaneously implementing the preparation, appraisal and approval of pre-feasibility study reports, feasibility study reports, technical designs, bidding documents and policies on contractor appointment, the Economic Committee finds that the Government's proposals are well-founded.

However, the appraisal agency recommends that during the implementation process, there should be a strict control mechanism to minimize negative impacts; at the same time, the bidding process needs to be closely monitored to ensure the selection of capable and experienced contractors.

Regarding the policy of excluding, exempting or reducing responsibility for heads of agencies, units, cadres, civil servants and public employees participating in and implementing the project, the appraisal agency believes that the project has been reviewed and commented on by competent authorities. With the urgent progress of the project, there may be shortcomings in investment preparation.

However, this regulation does not clearly define the scope, extent, form, and process that can be applied and may create a precedent that is unfair and inconsistent with other projects.

In addition, the Government has also had a policy to encourage and protect dynamic, creative cadres who dare to think, dare to do, and dare to take responsibility for the common good. Therefore, the Economic Committee recommends careful consideration of this policy and reporting to competent authorities for consideration and decision.

Concluding this content, Vice Chairman of the National Assembly Nguyen Duc Hai said that the National Assembly Standing Committee agreed on the necessity and submitted to the National Assembly for consideration the investment policy of this project at the 9th extraordinary session, scheduled to open on February 12.

Arranging and selecting personnel for National Assembly agencies immediately after the extraordinary session

Immediately after the 9th extraordinary session, we will arrange people in agencies and units of the National Assembly; resolve policies after the arrangement; select personnel and officials.

The National Assembly held an extraordinary meeting to perfect its personnel and apparatus.

The National Assembly Standing Committee gave opinions on many issues related to the arrangement, streamlining of the apparatus and personnel work to present to the National Assembly at the extraordinary session from February 12-18.

Prime Minister: A leaner apparatus, better quality people

The Prime Minister emphasized: "The goal set by the Party this time is to streamline the apparatus according to Resolution 18. This is a revolution in the apparatus. The apparatus is more streamlined, the people are of better quality."