NA considers capital boost for Vietnam Expressway Corporation

February 17,club america nữ 2025 - 21:23 Your browser does not support the audio element. The Government's proposal, seeking the NA’s approval for the allocation of VNĐ36.689 trillion (US$1.46 billion) from public investment funds already earmarked for the Ministry of Transport to the Việt Nam Expressway Corporation (VEC) for the 2024-2026 period.

A view of Cam Lâm - Vĩnh Hảo Expressway passing through three provinces of Khánh Hòa, Ninh Thuận and Bình Thuận. VNA/VNS Photo

HÀ NỘI — The 15th National Assembly (NA) deliberated on a plan to supplement charter capital for the Việt Nam Expressway Corporation (VEC) for the 2024-2026 period at its 9th extraordinary session in Hà Nội on Monday.

Minister of Finance Nguyễn Văn Thắng presented the Government's proposal, seeking the NA’s approval for the allocation of VNĐ36.689 trillion (US$1.46 billion) from public investment funds already earmarked for the Ministry of Transport. This funding package includes VNĐ10.062 trillion from the State budget as counterpart funding; VNĐ24.127 trillion from official development assistance (ODA), converted from re-lent loans into direct state budget allocations; and VNĐ2.5 trillion in direct State budget allocations for Nội Bài – Lào Cai and Cầu Giẽ – Ninh Bình expressway projects.

Delivering a verification report on the proposal, member of the NA Standing Committee Lê Quang Mạnh said that seeking NA adoption following in-principle approval from competent authorities was an appropriate step.

The NA’s Finance and Budget Committee concurred, recommending the proposal for legislative approval.

In closing, NA Vice Chairman Nguyễn Đức Hải said the approval would empower VEC to achieve sustainable development and reinforce its key role in investing, managing, operating, and maintaining expressways. It aligns with the Party and State’s socio-economic development strategies, particularly the policy to accelerate infrastructure development, with a focus on transportation, and to foster the growth of large, efficient state-owned enterprises. — VNS