Immediately after the policy of increasing charter capital for the parent company - VEC was officially approved by the National Assembly, the company's leaders shared about the investment plan for key highways in the coming time.
Top 5 state-owned enterprises with the highest charter capital
On the morning of February 19, at the 9th session, the National Assembly voted to approve the investment policy to supplement charter capital for the parent company - VEC for the period 2024-2026 with an additional amount of VND 38,251 billion.
Cau Gie - Ninh Binh Expressway is invested and operated by VEC (Photo: Ta Hai).
Of which, VND 1,562 billion from the Enterprise Development Investment Fund and VND 36,689 billion from the state budget have been disbursed to invest in the construction of 5 expressway projects invested by VEC, including: Noi Bai - Lao Cai, Cau Gie - Ninh Binh, Da Nang - Quang Ngai, Ho Chi Minh City - Long Thanh - Dau Giay and Ben Luc - Long Thanh.
After increasing charter capital, VEC is in the Top 5/19 State-owned Corporations and Groups with the highest equity capital today.
VEC was also transferred the state ownership representative agency from the State Capital Management Committee at Enterprises to the Ministry of Finance.
Mr. Truong Viet Dong, Chairman of VEC Board of Members.
Happy that the charter capital increase was approved right at the beginning of the new year 2025, Mr. Truong Viet Dong, Chairman of the Board of Members of VEC said, implementing the strategy and development plan approved by competent authorities, in the coming time, VEC will focus on consolidating, arranging, innovating, improving the quality and efficiency of operations.
In the immediate future, the Board of Directors of the Corporation will resolutely carry out innovation, reorganization, and streamlining of the apparatus to promote effectiveness and efficiency according to Resolution No. 18 of the Central Executive Committee.
Human resources will be developed according to the motto "one person can do many things".
"VEC will also proactively and actively participate in the 4.0 Industrial Revolution, promoting comprehensive and extensive digital transformation to effectively serve the work of administration, operation and production and business.
With careful preparation for two key factors: human resources and technology combined with available internal resources, VEC aims to immediately deploy investment to expand the expressways it is managing, operating and exploiting; invest in completing a number of routes on the North-South expressway on a complete scale and move towards new investment in a number of remaining expressways that have not been implemented in the national planning.
By 2035, VEC aims to manage and operate 1,500km of expressways nationwide," said Mr. Dong.
Mr. Pham Hong Quang, General Director of VEC.
Mobilizing maximum resources to "upgrade" the highway
According to Mr. Pham Hong Quang, General Director of VEC, after receiving an additional VND 38,251 billion in charter capital for the 2024-2026 period, VEC is qualified to mobilize maximum resources, including credit institutions, to expand existing expressways, invest in new projects and provide value-added services along the route to ensure progress, quality and efficiency.
Mr. Quang said that immediately after increasing capital, the Corporation is focusing all resources, making every effort to speed up the completion and putting into operation the Western section (Section Km 3+420 ÷ Km 21+739.5) and the Eastern section (Section Km 35+900 ÷ Km 50+530) of the Ben Luc - Long Thanh Expressway Construction Project before April 30, 2025, towards opening the entire route in 2026.
VEC is also accelerating the completion of adjustment procedures and completing the remaining items of the Da Nang - Quang Ngai Expressway project in 2025; Speeding up the repair of damaged road surfaces and traffic safety systems, upgrading expressways invested and managed by the Corporation, including: Noi Bai - Lao Cai, Cau Gie - Ninh Binh, Da Nang - Quang Ngai and Ho Chi Minh City - Long Thanh - Dau Giay.
For the Noi Bai - Lao Cai route alone, contractors are currently focusing on human and material resources to simultaneously construct 11 repair packages by the end of February.
Preparations for the expansion of projects: Noi Bai - Lao Cai Expressway, Yen Bai - Lao Cai section; Cau Gie - Ninh Binh Expressway are also being urgently implemented, striving to start construction in the fourth quarter of 2025.
"VEC is also researching synchronous investment, urgently completing service areas and rest stops on the Da Nang - Quang Ngai and Ben Luc - Long Thanh expressways; equipping vehicle load control systems on expressways invested by the Corporation," Mr. Quang shared.
Ms. Han Mai Nga, Chief Accountant of VEC.
Close the arduous journey again
As the person directly "engaged" in the process of increasing VEC's charter capital, Chief Accountant Han Mai Nga affirmed: This is an arduous journey, with efforts and pride of the collective leadership and staff of the advisory boards in "untying" the mechanism for VEC to "breakthrough".
According to Ms. Nga, VEC started with a relatively low charter capital, only 1,000 billion VND when it was established in 2008.
After two capital increases, by 2021, VEC's charter capital was over VND1,115 billion. Meanwhile, the total investment of VEC's 5 expressway projects was over VND108,000 billion, with loans of over VND56,000 billion, leading to difficulties for the Corporation when it could not ensure the debt/equity ratio as prescribed.
With limited financial capacity, VEC has encountered many difficulties in mobilizing investment capital sources, accessing and mobilizing capital from financial and credit institutions to develop the expressway system and other production and business activities.
"Faced with that challenge, the Government, the Prime Minister, ministries and branches have paid attention, directed and supported measures to enhance VEC's financial capacity. However, the process of increasing charter capital encountered many difficulties due to changes in mechanisms and policies, leading to the determination of capital sources outside the provisions of current laws," Ms. Nga recalled.
Not only does it unlock investment resources and promote business growth and development, Ms. Nga believes that the additional charter capital of VEC will create a legal basis for highway assets so that VEC can perform accounting for current highway assets.
Source: https://www.baogiaothong.vn/vec-len-ke-hoach-nang-doi-loat-cao-toc-ngay-sau-khi-duoc-bom-von-192250220183248509.htm
Comment (0)