Investing in paving the way for 'rich people'

Early and adequate capital allocation has helped many major transport infrastructure projects implemented in the past 4-5 years to make rapid strides, creating "sky-high" breakthroughs in terms of progress and investment efficiency.

Opening up capital

For the past few weeks, one of the top priorities of the leaders of the Railway Project Management Board - the main unit of the Ministry of Construction in the field of operation and management of railway infrastructure projects - is to closely coordinate with the 6 provinces and cities with the Lao Cai - Hanoi - Hai Phong railway line, promptly determine the exact needs, and immediately allocate capital for compensation, support and resettlement for the Project.

Illustration photo.

“Just a few days after the National Assembly approved the investment policy for the Lao Cai - Hanoi - Hai Phong railway construction project, the Ministry of Finance submitted to the Government to immediately allocate 2,000 billion VND for the project from the medium-term public investment source of the central budget in the period of 2021 - 2025. This is an important condition for the project to have a very favorable starting point,” said Mr. Mai Minh Viet, Deputy Director of the Railway Project Management Board.

With a total capital of 203,231 billion VND (equivalent to 8.37 billion USD), the Lao Cai - Hanoi - Hai Phong railway construction investment project, in addition to its great significance for socio -economic development, is also considered a "practice step", drawing important experience for the high-speed railway project on the North - South axis.

In which, "speed in implementation" and "efficiency in investment" are two requirements set by Prime Minister Pham Minh Chinh for the investor of the Lao Cai - Hanoi - Hai Phong railway construction investment project.

At the request of the head of the Government, the Lao Cai - Hanoi - Hai Phong railway construction investment project will start on December 19, 2025. If calculated from the time the National Assembly approved the investment policy to the time the project started construction of the main line items, the total investment preparation time will only last 12 months.

With valuable resources that the whole country has accumulated and saved for transportation, the whole country has become a large construction site, making the 2021 - 2025 term a successful "highway opening" term in the true sense of the word.

Along with that, the close and smooth coordination and creation of all favorable conditions for procedures by the Ministry of Finance has also helped investors in the field of transport infrastructure achieve positive disbursement results, with an average of 80,000 - 90,000 billion VND of public investment capital being put into construction sites each year in the period of 2021 - 2025. This is the important driving force for many projects to "pass the gate" in terms of progress.

This is the shortest investment preparation period ever for a public investment project of similar nature and scale as the Lao Cai - Hanoi - Hai Phong railway construction investment project, including technical design steps, contractor selection and capital mobilization.

“The Ministry of Construction is directing the Railway Project Management Board and the Research Consultant to split the project into two component projects, including Component Project 1: investing in infrastructure connecting stations along the entire route using domestic capital implemented by Vietnamese contractors to proactively implement and ensure construction starts on December 19, 2025. Regarding domestic capital, we have closely coordinated with the Ministry of Finance to balance and arrange enough for the project,” said Mr. Nguyen Danh Huy, Deputy Minister of Construction.

It should be added that, for large transport infrastructure projects, the site being handed over in full before the commencement date and the capital being arranged in full, uninterrupted and flexible manner are two prerequisites for the projects to be completed on schedule, ensuring quality and investment efficiency.

“In the context of limited national resources, identifying “optimal capital receiving addresses”, including the Lao Cai - Hanoi - Hai Phong railway construction investment project, will not only help us clearly define the target, but also accurately allocate valuable resources for “steel punches” with high spillover power, immediately promoting efficiency for the economy” - said the leader of the Ministry of Construction.

The fulcrum for the leaps over the gate of heaven

Dr. Tran Chung - Chairman of the Road Construction Investors Association said that the Ministry of Finance, the Ministry of Planning and Investment in the past and now the Ministry of Finance prioritizing a large amount of public investment capital in the transport infrastructure sector instead of spreading it out in a haphazard manner as before has brought about a big change for major transport infrastructure projects.

“Experience shows that in basic construction, there are three factors that determine the progress and quality of the project: capital, site and contractor capacity, in which capital is the decisive and key factor, or simply put, only with reality can one succeed. This is completely true with the implementation of key transport projects in the past four years,” said Mr. Chung.

According to incomplete statistics, as of July 2025, the transport infrastructure investment sector alone managed by the Ministry of Construction has been assigned a total planned source for the 2021 - 2025 period of VND 396,435 billion (equivalent to about 70% of the demand), including VND 295,888 billion of medium-term public investment capital for the 2021 - 2025 period; VND 81,269 billion of capital from the Socio-Economic Recovery and Development Program and VND 19,278 billion of capital to increase central budget revenue for the years 2021, 2022, 2023.

This is truly a leap in resources, because in the period 2001 - 2010, public investment capital allocated to the Ministry of Construction was only 161,800 billion VND; in the period 2011 - 2020, although better, it was only about 474,000 billion VND, equivalent to 52% of the demand.

If we include the budget capital invested by localities in key transport infrastructure projects such as: Ring Road 4 - Hanoi Capital; Ring Road 3 - Ho Chi Minh City; urban railway projects in 2 big cities; Bien Hoa - Vung Tau Expressway; Khanh Hoa - Buon Ma Thuot; Chau Doc - Can Tho - Soc Trang Expressway... then the investment capital allocated to the entire transport sector to carry out the "steel punches" in the period 2021 - 2025 will certainly exceed 600,000 billion VND.

This is a huge boost, helping the basic transport infrastructure sector escape the situation of "measuring" capital for key projects, directly pushing the whole "vehicle" called "transport infrastructure" to speed up.

As of early July 2025, the Ministry of Construction has put into operation a number of additional sections of 6 component projects of the North-South Eastern Expressway, bringing the total length of expressway nationwide to 2,268 km.

The Ministry of Construction is also making efforts to deploy and urge localities to construct 25 projects/component projects with a total length of 941 km to be completed in 2025 to achieve the target of 3,000 km; directing to accelerate the progress to complete Long Thanh International Airport - Phase 1; urgently completing the investment dossier for the North - South high-speed railway project, Lao Cai - Hanoi - Hai Phong.

“The early completion of these projects will contribute to reducing logistics costs, creating new development space for localities after the merger, and establishing connections between regions across the country and internationally,” informed the leader of the Ministry of Construction.

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Source: https://baolaocai.vn/don-von-cho-mo-duong-dai-phu-post881244.html