Additional 3.5 trillion VND allocated for Phase 1 of Tuyen Quang-Ha Giang Expressway Project

BHG - At the 7th Session of the 15th National Assembly, on behalf of the Government of Vietnam, Minister of Finance Ho Duc Phoc presented the government's proposal on the use of the general contingency of the medium-term public investment plan funding in the central budget for the 2021-2025 period, corresponding to the increase in central budget revenue for public investment projects in 2023.

The Tuyen Quang-Ha Giang Expressway Project is currently being implemented.

Accordingly, a total of 26.9 trillion VND from the increased central budget revenue in 2023 is expected to be allocated to 20 projects across four sectors: defence (2 trillion VND), security (4 trillion VND), transportation (19.380 trillion VND), and judicial reform (1.520 trillion VND).

Of these allocated funds, 8.680 trillion VND falls under the decision-making authority of the National Assembly Standing Committee (NASC) and is expected to be allocated to 6 projects of the Ministry of Transport, which have been assigned under the medium-term public investment plan for the 2021-2025 period, ensuring all investment procedures are complete.

The remaining 18.220 trillion VND falls under the decision-making authority of the NA and is expected to be allocated to 14 projects. The Tuyen Quang-Ha Giang Expressway Project’s Phase 1 is expected to receive an additional 3.5 trillion VND, including 1.5 trillion VND for the section in Ha Giang Province and 2 trillion VND for the section in Tuyen Quang Province. The investment policy for the project needs to be adjusted to expand its scale from 2 lanes to four complete 4 lanes.

DUY TUAN