Completing the procedures for committing local budget capital to the Bien Hoa - Vung Tau Expressway Project

​The delegation of the National Assembly's Economic Committee surveyed the reality of the Bien Hoa - Vung Tau Expressway Project on May 17.

According to the telegram, expressways of Khanh Hoa - Buon Ma Thuot, Bien Hoa - Vung Tau and Chau Doc - Can Tho - Soc Trang are key national projects, playing a particularly important role for the economic region. The southern key economic zones, the Mekong River Delta, the Central Highlands, are horizontal routes directly connecting with existing and under-investment vertical axes (National Highway 1A, Ho Chi Minh Road, North - South Expressway in the East), creating a driving force for the overall socio-economic development of the country, ensuring national defense and security.

The responsibility of the Government and localities are to complete these projects as soon as possible, so it requires the cooperation of all relevant ministries, branches and localities in preparing investment, mobilizing as much as possible all resources and focus on deploying investment to ensure its completion in the period 2021-2025. The Politburo has agreed to invest in these three projects with public investment capital from the central and local budgets.

Currently, the People's Committees of the provinces and cities that have the project goes by have all committed in writing to allocate local budgets to participate in the project. However, according to the law on public investment and state budget, it is required to have a resolution of the People's Councils of provinces and cities to approve the amount of local budget capital participating in component projects to be eligible for the National Assembly to consider and decide on investment policies.

In order to be timely to submit to the National Assembly at the 3rd session, the 15th National Assembly, the Prime Minister proposed the Secretary, Chairman of the People's Councils of the provinces and cities that have the project passes by to direct and organize meetings of the People's Councils of the provinces. Provinces and cities for consideration and approval of the medium-term public investment plan capital for the 2021-2025 period from the local budget committed to participating in component projects (including capital level, capital allocation schedule; In case of increasing the total investment compared to the investment policy decision approved by the competent authority, the local government shall be responsible for allocating adequate additional capital correspondingly from the local medium-term public investment plan for the period 2021-2025 allocated to the locality or from other lawful capital sources such as increasing revenue and saving expenses as prescribed; having a resolution before May 30, 2022, and sending it to the Ministry of Transport for summarization and submission to the National Assembly.