The National Assembly passed a Resolution on investment policy for the Lao Cai - Hanoi Railway Construction Investment Project.

On the morning of February 19, under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly voted to pass the Resolution on investment policy for the Lao Cai - Hanoi - Hai Phong railway construction project with 455/459 National Assembly deputies participating in the vote in favor, accounting for 95.19% of the total number of National Assembly deputies.

At the meeting, after listening to the National Assembly Standing Committee member, Secretary General of the National Assembly - Head of the National Assembly Office Le Quang Tung present the Report on explanation, acceptance and revision of the draft Resolution of the National Assembly on the investment policy of the Lao Cai - Hanoi - Hai Phong railway construction investment project, the National Assembly voted to pass the Resolution.

According to the Resolution, the Project aims to build a new, modern, synchronous railway line to meet the domestic and international transport needs between Vietnam and China; create an important driving force for rapid and sustainable socio-economic development, promote advantages on the Lao Cai - Hanoi - Hai Phong economic corridor, ensure effective connection of domestic and international railway networks, associated with ensuring national defense, security and international integration, environmental protection, and response to climate change; promote the process of industrialization and modernization of the country; contribute to realizing the goals and tasks according to the Documents of the 13th National Congress of Delegates and Resolutions of the Party.

Regarding the scope of investment, the starting point is at the cross-border rail connection point (Lao Cai province), the end point is at Lach Huyen station (Hai Phong city); the main line length is about 390.9 km; the branch lines length is about 27.9 km; passing through 09 provinces and centrally-run cities including: Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Hanoi Capital, Bac Ninh, Hung Yen, Hai Duong and Hai Phong.

Regarding scale, new investment in the entire single-track line, 1,435 mm gauge; general passenger and cargo transportation; design speed of 160 km/h for the main line from the new Lao Cai station to Nam Hai Phong station, design speed of 120 km/h for the section through the Hanoi city hub area, design speed of 80 km/h for the remaining sections.

The Resolution also resolves that the form of investment is public investment; the Project applies rail technology, electrification; ensuring modernity, synchronization, safety and efficiency. At the same time, the Project applies specific and special mechanisms and policies;... In particular, the Project does not have to conduct an appraisal of the ability to balance capital according to the provisions of the Law on Public Investment.

Regarding the authority to decide on adjusting the Project investment policy and Project adjustment, during the time the National Assembly is not in session, the Government shall submit to the National Assembly Standing Committee for consideration and decision on adjusting the Project investment policy, except in the case of adjusting the total investment of the Project;

In addition, the Minister of Construction decides to adjust the Project in the following cases: when the planning adjustment directly affects the Project; due to the impact of natural disasters, fires or other force majeure factors when the Project's insurance period has expired; the price index during the Project implementation period is greater than the price index used to calculate the reserve in the total investment of the Project.

Also according to the Resolution, the Vietnam Fatherland Front and its member organizations, within the scope of their tasks and powers, are responsible for propagating and mobilizing the People to agree on the Project investment policy and supervising the implementation of the Project according to the Resolution.

The National Assembly Standing Committee, the Economic and Financial Committee, the Ethnic Council, other National Assembly Committees, National Assembly delegations, and National Assembly deputies, within the scope of their duties and powers, shall supervise the implementation of the Project in accordance with the Resolution. At the same time, the State Audit, within the scope of its duties and powers, shall audit the implementation of the Project in accordance with this Resolution.

Source: https://vr.com.vn/tin-tuc--su-kien/quoc-hoi-thong-qua-nghi-quyet-ve-chu-truong-dau-tu-du-an-dau-tu-xay-dung-tuyen-ds-lao-cai--ha-noi--hai-phong.html