Hanoi has been given permission to speed up process of mobilizing capital and selecting contractors for urban infrastructure development projects in form of public-private partnership (PPP), per the Deputy Prime Minister Trinh Dinh Dung`s request.

![]() Illustration photo.
|
Dung requested the MPI to cooperate with related agencies in reviewing Hanoi's proposal within 10 working days since the submission day.
Consequently, the process of selecting contractors for PPP transport - urban infrastructure projects in Hanoi will be reduced by 45 - 100 days.
In normal case, the process of selecting, negotiating and awarding contract for contractor of PPP project may be up to 700 days, informed the Hanoi People's Committee.
With regard to Hanoi's proposal on having permission of signing contract for category A project under the build - transfer (BT) form, Dung instructed the city to comply with the law.
Last July, Hanoi's Chairman Nguyen Duc Chung proposed to the Prime Minister of implementing 20 infrastructure development projects under special condition.
These projects include: building bridge and road in Ring road No.4 (Me So bridge, Hong Ha bridge, section from Hanoi - Lao Cai highway to national highway No.32, and section from national highway No.32 to Phap Van - Cau Gie highway); Duong No. 2 bridge; Giang Bien bridge and the access road; upgrading national highway No.6 from Ba La to Xuan Mai; center road in Dong Anh district; Hong's river banks improvement; upgrading national highway No.21 secton Son Tay - Hoa Lac - Xuan Mai;
Total investment of 20 projects under BT and BOT (build - operate - transfer) is VND128 trillion (US$5.6 billion).
Another 4 environment projects under BT and BOO (build - own - operate) projects are also expected to be implemented soon with total investment of VND8.6 trillion (US$379.2 million).
With regard to selection critaria, according to the Hanoi People's Committee, in addition to financial and administrative capabilities, investors have to provide advanced payment for site clearance and carrying out the project once Hanoi People's Committee hand over the land ownership rights.
Moreover, contractors have to commit on paying in advance expenses for pre-feasibility, feasibility and setting up technical specifications for approval.
Other News
- Vietnam moves up 12 places in EIU’s business environment ranking
- Vietnamese Gov’t aims to approve North-South express railway project by 2025
- US-based infrastructure investment fund promises US$1 billion for Vietnam
- Vietnam ready upgrade US ties on 10th anniversary of comprehensive partnership
- Largest-ever US business delegation seeks investment opportunities in Vietnam
- China's Sunny Group plans US$2.5 billion investment in Vietnam
- $8 billion to be pumped into Vietnam’s Central Coast
- FDI to Vietnam’s real estate rises by over 70% in 2022
- Laos vows to facilitate Vietnam's investors
- Hanoi lures nearly $1.7 billion in foreign investment in 2022
Trending
-
Prime Minister requests inspection of electricity supply
-
Vietnam News Highlights for June 7, 2023
-
Photo Hanoi'23 drives capital's culture and art development
-
Red River - a centerpiece in Hanoi’s green development
-
New apartment buildings must have life span: Hanoi Party Chief
-
Hanoi Times Weekly Podcast
-
Vietnam’s Reunification Express named world’s most incredible rail journey: Lonely Planet
-
First Vietnamese forced laborers return from the Philippines
-
Franco-Vietnamese Filmmaker wins Best Director at Cannes 2023