Vietnam to Reallocate Delayed Infrastructure Funds: PM Directive

Prime Minister Le Minh Hung has directed that funds from slow-moving and difficult-to-disburse transport infrastructure projects be reallocated to those with better implementation prospects. This directive was issued during a meeting on key transport projects held on September 22. The Prime Minister emphasized that project progress is based on commitments registered by investors, ministries, and localities, urging all parties to adhere to their promises and fully disburse allocated capital. Projects unable to meet their planned completion schedules will face capital reallocation. The Ministry of Finance and the Ministry of Construction are tasked with identifying projects capable of effectively receiving and utilizing the reallocated funds. The central budget will also provide temporary advances to localities that are executing well but facing capital shortages. According to the Ministry of Finance, over VND 255 trillion has been allocated for key transport projects in 2026. As of the end of August, VND 95.44 trillion, or 38%, of this capital had been disbursed. Many large-scale projects, including the Ho Chi Minh City Ring Road 3, Ho Chi Minh City-Moc Bai Expressway, Can Tho-Hau Giang, Hau Giang-Ca Mau, and Khanh Hoa-Buon Ma Thuot expressways, have seen disbursement rates below 30%. Notably, 12 projects have disbursed less than 5% of their allocated funds. Prime Minister Hung requested that Permanent Deputy Prime Minister Pham Gia Tuc and Minister of Construction Tran Hong Minh visit delayed projects to identify causes and propose solutions. He stressed the importance of not delaying or extending deadlines without objective reasons and warned against compromising project quality to meet timelines. For the North-South High-Speed Railway, localities are urged to expedite the construction of resettlement areas to facilitate land clearance. The Ministry of Construction will finalize technical standards, select international consultants for feasibility studies, and engage independent firms for review. The Lao Cai-Hanoi-Hai Phong railway project is expected to complete its feasibility study soon, with the main line construction targeted to commence in early 2027. Agreements for cross-border shared bridges and loans are anticipated to be signed in 2026. In Hanoi, two urban railway lines, Tran Hung Dao-Thuong Dinh and Nam Thang Long-Noi Bai, must ensure adherence to technical standards. The Hoa Lac-Hoa Binh Expressway expansion project needs to swiftly finalize its investment policy adjustments to enable capital disbursement. Regarding the first phase of Long Thanh International Airport, the Airports Corporation of Vietnam has been instructed to concentrate resources and clearly define all items to be completed this year.