Three MoIT projects to be taken out from loss-making list

Wednesday, Aug 19, 2020 20:24

DAP Fertiliser 1 Hai Phong is considered to be removed from the list of loss-making projects of the Ministry of Industry and Trade.— Photo DAP

Progress has been reported in three of 12 loss-making projects under the management of the Ministry of Industry and Trade (MOIT) more than a year after the Government’s steering committee on loss-making projects implemented comprehensive solutions.

Deputy Prime Minister Truong Hoa Binh, head of the steering committee, who chaired the 11th session in Ha Noi yesterday said they would report to the PM to remove three of the 12 projects from the list in August.

With better operations, DAP Fertiliser 1 Hai Phong, Binh Phuoc Ethanol and Phu Tho Ethanol were considered to be removed from the list of loss-making projects of the ministry.

Speaking to representatives of related ministries, the Central Economic Committee, the Economic Committee of the National Assembly, and the State Capital Management Committee at enterprises and leaders of corporations, Binh said the hard work isn't over.

“There is much work to do to solve all the problems in the projects that went behind the progress at the deadline in the first half of 2021," he said.

He asked all ministries, branches, businesses and banks to uphold their responsibilities and to make more drastic efforts to speed up the handling of those projects.

“Solutions for the projects must be feasible on the principle that enterprises and investors must be proactive and responsible for handling them according to the market while the State won’t allocate more capital to the projects," Binh added.

Binh told the corporations of the projects to take comprehensive responsibility for handling their projects while ensuring compliance with regulations. He also told the State Capital Management Committee at enterprises to perform the supervisory function of the owner's representative agency for the corporations with such projects or enterprises in accordance with the law.

The deputy PM asked investors and corporations of five projects with disputes regarding engineering, procurement and construction contracts to handle clear solutions to report to Prime Minister Nguyen Xuan Phuc this month, adding that the reports would be the basis for the committee to restructure, sell capital and divest from the projects and the relating corporations as well as to clarify and handle violations for related organisations and individuals.

Binh also told ministries and agencies to hire independent consultants to have an objective assessment of the project value of projects that have not yet finalised the EPC contracts.

According to the MoIT, the total initial investment of the 12 projects was VND43.6 trillion then they were approved to increase to VND63.6 trillion. — VNS

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