This confidence is due to resolution 68 as well as new laws and regulations that have been promulgated quickly.
The key and the mechanism have been opened, the question is how the private sector can really access, participate and transform the guidelines and policies of the party and state policies in reality?
It is also the content of the debate “Private investment in infrastructure: from policy to implementation” recently organized by the newspaper Tuoi Tre.
Massive project volume
Table of Contents
HAS Ho Chi Minh-Ville after the redevelopment of administrative boundaries, the demand for investment in transport infrastructure explodes, opening a large playground for investors in all areas: roads, railways, aviation, sailors and sea ports.
Among these, high-speed railways and urban railways represent most of the capital and are considered “difficult tasks” but must be performed quickly and forcefully to respond to the requirement You Politburo to almost complete the network by 2035.
Currently, more than ten lines are on the priority list, for a total capital need for more than 1.3 million billion Dongs. This list includes lines metro 1 (extended) at 7, the urban train line Thu Thiem – Long Thanh, the high -speed line connecting the city center to Can Gio, as well as the metro lines 1 and 2 in the old district of Binh Duong.
After the merger, the Hô-Chi-Minh-Ville metro network is being revised to adapt to the new development scale-graphics: TAN DAT
In addition to urban railways, the demand for road development also increases. While the peripheral 4 of Hô-Chinh-Ville and the Hô-Chinh-Ville-Moc Bai highway have approved investment policies and are ready to launch a call for tenders with investors, many projects are also under planning, requiring investments of several hundred thousand billions of Dongs.
These are the Phu My 2 bridge, the Cat Lai bridge, the Can Gio bridge, the Thu Thiem 4 bridge, the southern coastal road …
In particular, Ho Chi Minh-Ville studies and implements a high-speed radial road network (underground or raised), connecting from east to west, from north to south, from center to interregional zones, with huge demand for capital.
The first of these axes includes four BOT projects (national roads 1, 13 and 22, as well as the North-South) road, at a cost of nearly 60,000 billion Dongs. In addition, the Can Gio International Transit port and several passenger ports intended to accommodate large capacity international ships will soon be deployed.
Ho-chi-minh-ville was formerly considered to be the starting point for innovations to attract non-budgetary capital for transport infrastructure. However, after 2017, many gaps remain in terms of investment … – graphics: Tan date
Almost no national company dared to embark on complex projects such as the metro and the railway. Some foreign investors may have proposed to study the public-private partnership model (PPP), but have not yet received approval from their investment.
From this reality, before the adoption of resolution 68, Ho Chi Minh-Ville decided to invest around 355 km of metro with total capital of more than $ 40.2 billion, with public investment as the main source.
Scene of the discussion
Ready for major projects
After resolution 68 and the promulgation of a series of new laws, the mechanism was “untied” and extended to the maximum to allow the private sector to participate in infrastructure projects. Many large companies then quickly volunteered to invest, especially in the rail and metropolitan sectors.
Not only railways and metros, but also public-private partnership projects (PPP) which have stagnated for many years are also beginning to prosper.
After proposing to implement projects, many national companies have actively recruited staff, sought after by partners and prepared resources.
The Vinitée Vinspeed joint stock company, specializing in investment and development high -speed railroad, Emergency recruit for the implementation of high-speed railway projects Ho-chi-minh-ville-Can Gio and Hanoi-Quang Ninh. For the North-South high-speed railway project, Vinspeed awaits the government’s decision concerning the investor approval.
The Deo CA Group has developed a proactive rail strategy, with a human resources development plan, and has actively prepared equipment specialized in cooperation with organizations from several countries, such as France and China, in order to send staff to work and study. Since the beginning of 2024, the company has collaborated with the University of Transports Hô-Chinh-Ville to train more than 200 railway engineers.
The company has also sent many engineers and workers to work and study directly on the interurban railway line Guangzhou-Dongguan-Shhenzhen project, built by Bureau 2 of the China Railway Construction Group, in order to master the TBM tunnel construction technology. Deo CA has signed joint ventures with many national and foreign partners, such as FECON, POWERCHina, SUSGI, etc., in order to prepare to participate in railway projects in Vietnam.
Illustration
The DAI DUG group and consortium have also established cooperation relations with national companies and leading companies worldwide such as Siemens (Germany) – Railway technology and operating systems; Alstom (France) – Equipment equipment and energy systems; Thyssenkrupp (Germany) – System of elevator and main mechanics …
By assessing the capacity of the private sector to participate in megaprojets, Mr. Trinh Tien Dung, Chairman of the Board of Directors and Managing Director of the Dai Dung group, said that many others private companies In Vietnam are perfectly capable of building large -scale national transport infrastructure projects.
Mr. Dung proposed that a mechanism is put in place to give priority to tenders for national companies and to encourage private investment in many forms, in particular the issue of bonds.
Reality shows that social capital is abundant, but that the mechanisms remain inadequate. In addition, the contractual process requires commitment and coherence between terms, thus avoiding policy changes that cause risks and slow down business development.
M. Le Thanh Liem
As a business having recently implemented many large -scale projects, our greatest concern concerns procedures that were not fluid when the project is implemented.
Because too long a procedure will put companies in difficulty and will stagnate the projects.
Companies therefore hope that the State will continue to support them and issue sufficient procedures and standards, thus shortening the process so that companies can feel safe in the process of participating in the implementation of the project.
M. Le Thanh Liem –
Representative of the real estate investment company DAI Quang Minh (Truong Hai group)
M. Nguyen Tam Tien
Need confidence and security
To build a modern transport system with metro, raised roads and underground infrastructure, it is necessary to mobilize enormous capital.
The reality of the implementation of certain projects shows that sometimes private companies are found in a “dilemma”, faced with countless difficulties.
The fundamental question therefore does not only reside in capital, but also in transparent mechanisms and procedures, as well as in the establishment of trust and security to attract private investments.
M. Nguyen Tam Tien – CEO of the TRUNG NAM group
The journalist Tran Xuan Toan
Pave the private business
Resolution 68 claims that the private economy is an important engine, opening the way to an active participation of private companies in investment in infrastructure and key sectors. Mr. Nguyen TAM TIEN: new mechanisms and new development spaces are multiplying, aroused aspirations and resources in all economic sectors. In this context, a series of national companies and companies have proposed projects of unprecedented magnitude.
During the seminar, experts and investors discussed four fundamental questions: the creation of an open system; the affirmation of the capacity of national companies to undertake large -scale projects; The creation of joint ventures and the capital mobilization mechanisms.
Based on the frank and constructive comments of experts and businesses, Tui Tre will continue to develop a series of articles on private economic development, aimed at helping to bring the main party and state policies to bring life.
Journaliste TRAN XUAN TOAN – Deputy editor -in -chief of the newspaper Tuoi trei
M. Nguyen Xuan Thanh
Proposed project obligation model
In the spirit of resolution 68, I propose two revolutionary institutional solutions to attract private investments that will help accelerate the completion of projects.
First, given the large number of current projects, it becomes very urgent to attract private participation.
In addition to their role as an investor, investors and private companies can also manage projects on behalf of the boards of directors managed by the State. This makes it possible to take advantage of the level and the management capacity of companies to accelerate progress and lighten the workload of state management organizations.
During its participation, the private sector will follow the market mechanisms and will not be allocated by redundant regulations, unlike state officials. This will prevent civil servants from fear of making mistakes and daring to make decisions. Once the project is completed, the private sector will entrust it to the State and will receive a reasonable remuneration.
In addition, in order to improve investors’ access to capital, I propose to create project obligations. If this mechanism is implemented, I think it will be a major institutional advance.
More specifically, for infrastructure projects incorporating TOD policies, a legal framework governing land use rights is set up even when the site has not been cleared, thus guaranteeing the payment of project obligations (assets that can be used as guarantees by individuals). The Land Fund will then be auction and the product product will be used to finance the obligations. Financial institutions will thus feel more security than to buy business bonds.
In particular, we can issue national obligations in foreign currencies. One of the current advantages is that our social resources are still abundant and that there is still a significant room for maneuver. If we manage to open these capital flows, we will be less dependent on foreign investments, especially the APD.
M. Nguyen Xuan Thanh – Fulbright Vietnam University
M. Tran Anh Tuan
Possibility of creating a pioneer company
Resolution 68 clearly affirmed the role of the private economy.
Currently, public resources devoted to development in development are limited, representing only about a quarter of the total social investment capital. This requires a strong mobilization of social resources, especially in the private sector.
Major policies are in place and major investment projects are planned. The problem is that specific regulations must be quickly finalized to be applicable in everyday life. With the current open mechanism, I think it is an opportunity for us to develop, to build a private sector with more solid companies and companies, and to train pioneer businesses in the fields of infrastructure, science and technology development.
M. Tran Anh Tuan – Delegate to the National Assembly (HCMV delegation)
M. Trinh Tien Dung
The state should lead
For the metro, the assembly and construction of future elements – steel structures, tunnels, foundations, stations … – can all be undertaken by Vietnamese companies.
If necessary, the units are willing to buy or rent additional components and specialized equipment abroad. However, to guarantee efficiency, a professional project management service, in accordance with international standards, is necessary, capable of simultaneously coordinating several entrepreneurs and guaranteeing resources, advancement and quality.
The state must play a driving role by encouraging groups of national companies to unite their forces, pool their capital and cooperate in order to have sufficient resources and take advantage of the assets of each unit. Price verification, auction and selection of subcontractors must also be synchronized technologically and guarantee quality.
M. Trinh Tien Dung – Director General of the DAI DUG Group
M. Vo Quoc Thang
I am delighted with the adoption of resolutions aimed at supporting private companies. No resources are more powerful than social resources. However, liability for efficiency is limited. Many entrepreneurs are very enthusiastic, have potential, have management and financing capacities and wish to associate to build infrastructure. The problem is to establish solid confidence. For companies to be able to invest in complete safety, it is necessary to create a transparent and stable environment, guaranteeing the security of investors’ capital.
M. Vo Quoc Thang –
Group president Dong Tam
Tuoitre.vn
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