The investor of the Hanoi – Hai Phong expressway is breaking its back to pay debts because the State has not been able to pay its committed capital. (Photo: VietnamPlus) - The State has yet to pay its committed capital to the investor of the Hanoi – Hai Phong expressway, putting it at risk of bankruptcy. The Hanoi – Hai Phong project has been carried out for more than 10 years but the State’s commitments to pay capital for the investor (Vietnam Infrastructure Development and Financial Investment Corporation – VIDIFI) have yet to be implemented. This might lead to the project’s bankruptcy and difficulties to call for investment.Who will pay the debt of 800 billion VND?In 2007, as Highway 5 was heavily overloaded, the Prime Minister decided to construct the Hanoi-Hai Phong expressway. Due to State budget difficulties, the project was implemented under a pilot mechanism. The State capital in the project was to be gradually paid from the budget and to be collected from land use and land rent fees from urban areas established after the road’s construction. Specifically, State compensation for land clearance was 4.069 trillion VND (177.3 million USD). VIDIFI borrowed the sum from the Vietnam Development… Read full this story
- A global debt crisis is looming – how can we prevent it?
- How to attract high-quality foreign direct investment
- Aramco may review investment in mega greenfield refinery in M'rashtra
- Transport Ministry orders agencies speed up land clearance for expressway
- MoT orders agencies speed up land clearance for expressway
- A new idea steals across Europe – should Greece’s debt be forgiven?
- Debt swaps could free funds to tame climate, biodiversity and virus threats
- Canada’s Ontario Teachers’ partners with Edelweiss Group to invest $350 million in Indian private credit
- How to drive the economy by reforming state-owned debt
- AMFI August Data: MF industry registers total outflows of over Rs 14,000 crore; debt category hit the most
HN–Hai Phong expressway: Debt burden, investment environment concerns have 324 words, post on en.vietnamplus.vn at June 3, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.