Agree to submit to the National Assembly for consideration to increase charter capital for VEC

The National Assembly Standing Committee agreed to submit to the National Assembly for consideration an increase in charter capital for VEC at the 9th extraordinary session, scheduled to open on February 12.

On the afternoon of February 10, the National Assembly Standing Committee gave its opinion on the plan to supplement the charter capital for the 2024-2026 period of the parent company - Vietnam Expressway Corporation (VEC).

Minister of Finance Nguyen Van Thang.

Presenting the Government's report, Finance Minister Nguyen Van Thang said that VEC's charter capital is very low, at more than VND1,100 billion, while the enterprise's investment scale is up to more than VND108,000 billion.

According to Mr. Thang, this makes it difficult for VEC to mobilize capital sources to invest in expressway projects. Raising charter capital for this enterprise is necessary and urgent.

On that basis, the Government proposed that the National Assembly allow the use of public investment capital that has been assigned to the Ministry of Transport to invest in the project with an amount of more than 36 trillion VND, converted into charter capital for VEC.

The Government also proposed to approve the investment policy to supplement charter capital for VEC in the 2024-2026 period of more than VND 38 trillion, including more than VND 1,500 billion from the Enterprise Development Investment Fund and more than VND 36,000 billion from the State budget.

Examining the level of additional investment capital for charter capital, Chairman of the Finance and Budget Committee Le Quang Manh said that the majority of opinions in the Standing Committee of the Committee agreed with the Government's proposal to use more than VND 1,560 billion from the Enterprise Development Investment Fund to increase charter capital for VEC.

Regarding the capital source of nearly 36,700 billion VND from the State budget that has been disbursed to invest in the construction of 5 expressway projects invested by VEC, the appraisal agency requested the Government to report to competent authorities for consideration and approval before reporting to the National Assembly for consideration and decision on the policy of increasing charter capital for VEC.

Based on the consent of the competent authority, the appraisal agency requested the Government to promptly complete additional documents to submit to the National Assembly for consideration and decision on the policy of increasing charter capital for VEC at the 9th extraordinary session this month.

After discussion, the National Assembly Standing Committee agreed to submit to the National Assembly for consideration an increase in charter capital for VEC at the 9th extraordinary session, scheduled to open on February 12.

Source: https://www.baogiaothong.vn/dong-y-trinh-quoc-hoi-xem-xet-tang-von-dieu-le-cho-vec-192250210192430086.htm