According to the agenda, the National Assembly discussed in the hall the plan to invest in additional charter capital for the 2024-2026 period of VEC right after hearing the presentation and the appraisal report, however, no one registered to speak.
According to the agenda, the National Assembly discussed in the hall the plan to invest in additional charter capital for the 2024-2026 period of VEC right after hearing the presentation and the appraisal report, however, no one registered to speak.
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| The National Assembly listened to the Report on the investment plan to supplement charter capital for VEC. |
Continuing the 9th extraordinary session, on the afternoon of February 17, the National Assembly listened to the Submission and appraisal report on the investment plan to supplement charter capital for the period 2024 - 2026 of the parent company - Vietnam Expressway Corporation (VEC).
Authorized by the Prime Minister to present the report, Minister of Finance Nguyen Van Thang said that the proposal was to add VND38,251 billion in charter capital to the parent company - VEC from two sources. Of which, about VND1,562 billion from the Development Investment Fund at the enterprise is recorded in the investment project to form assets serving production and business. Nearly VND36,690 billion from the State budget has been disbursed to invest in 5 expressway projects invested by VEC (including VND10,062 billion in counterpart capital from the budget; VND24,127 billion in ODA capital in projects implemented in the form of transferring loan capital for re-lending into budget allocation and VND2,500 billion in budget allocation for the Noi Bai - Lao Cai and Cau Gie - Ninh Binh projects.
According to Minister Nguyen Van Thang, the increase in charter capital from disbursed public investment sources ensures the principle of capital preservation. Accordingly, the amount of budget spent will be transferred to the enterprise's charter capital and VEC is responsible for preserving the allocated capital.
However, the current Law on Public Investment and current laws do not have provisions on allocating capital for the project and converting it into budget capital to supplement the charter capital of state-owned enterprises. In addition, the expected charter capital for additional investment in VEC is VND 38,251 billion, so the decision on the policy falls under the authority of the National Assembly. The Prime Minister decides on additional investment for this enterprise after the National Assembly decides on the investment policy.
The increase in charter capital for the parent company - VEC from public investment sources has assigned the plan to the Ministry of Transport to carry out the project and has disbursed investment in the construction of 5 expressway projects invested by VEC, the Minister of Finance said, does not create budget expenditures and public debt. Therefore, it does not directly impact the state budget.
As for the enterprise, the increase in charter capital, according to the development strategy until 2030, vision to 2035, VEC needs to mobilize a large amount of capital to invest in new expressways, invest in expanding projects under management. Of which, the period until 2025 needs about 14,890 billion VND; by 2030, it needs 30,500 billion VND. After the charter capital is increased, VEC will be eligible to mobilize capital from credit institutions and implement investment projects.
Member of the National Assembly Standing Committee Le Quang Manh said that during the examination, the majority of opinions of the Finance and Budget Committee agreed that it was necessary to increase the charter capital for VEC in the 2024-2026 period, to increase the financial capacity of this enterprise in developing expressway projects.
Regarding the Government's proposal, Mr. Manh said that the competent authority has concluded and agreed in principle to allow the use of public investment capital allocated to the Ministry of Transport to invest in the project. Specifically, this amount includes counterpart capital from the state budget, ODA in projects implemented in the form of converting loan capital for re-lending into budget allocation and budget allocation capital for projects to be converted into additional budget capital for VEC.
However, the auditing agency requested the Government to direct agencies to calculate, accurately determine and take responsibility for the data when implementing this policy. This is to ensure effective use of capital, no loss of capital and state assets, as well as to handle issues related to management, accounting, capital preservation and development plans when supplementing charter capital for VEC.
The audit agency also recommended that the National Assembly assign the State Audit, within the scope of its tasks and powers, to audit compliance with regulations on charter capital increase as well as capital management and use of the parent company - VEC in accordance with the provisions of the State Audit Law, and report to the National Assembly at the 10th session, scheduled for October 2025.
According to the agenda, the National Assembly will discuss in the hall the plan to invest in additional charter capital for the 2024-2026 period of the parent company - Vietnam Expressway Corporation (VEC) right after hearing the presentation and the verification report. However, no one registered to speak.
Source: https://baodautu.vn/thong-nhat-phuong-an-dau-tu-bo-sung-von-dieu-le-cho-vec-d247279.html
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