Minister of Finance Nguyen Van Thang presented the Government's proposal, seeking the N.A.’s approval for the allocation of VND 36.689 trillion (USD 1.46 billion) from public investment funds already earmarked for the Ministry of Transport. This funding package includes VND 10.062 trillion from the State budget as counterpart funding; VND 24.127 trillion from official development assistance (ODA), converted from re-lent loans into direct state budget allocations; and VND 2.5 trillion in direct State budget allocations for Noi Bai – Lao Cai and Cau Gie – Ninh Binh expressway projects.

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

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

In closing, N.A. Vice Chairman Nguyen Duc Hai 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.

Source: VNA