Vietnamese Government guidance withdraw wrong cost

(Engineering daily) Nguyen Anh Duong = Government has called for the retrieval of $493 million wrongly allocated to the Vietnam Expressway Corporation.

Government has called for the retrieval of $493 million wrongly allocated to the Vietnam Expressway Corporation.

Government said that the wrongful capital allocation 491million was made by MPI(the Ministry of Planning and Investment). 

Specifically, the MPI wrongfully allocated 111million to the Da Nang-Quang Ngai Expressway project, 21million to the HCMC-Long Thanh-Dau Giay Expressway project, 5.6million to the Noi Bai-Lao Cai Expressway project and 90miliion to the Ben Luc-Long Thanh Expressway project.

The state auditors have therefore requested that the government instruct the MPI to resolve the issue of converting four VEC projects from borrowing state capital to direct investments by the state, and to retrieve the $493 million it had allocated to the four projects between 2016 and 2018.