BT transport projects obey the law, says Hanoi official
A representative of the Hanoi government has voiced that five build-transfer (BT) transport projects that have won investment certificates have been carefully selected and in line with law, in response to concerns that this format has been outdated and a lucrative land for misappropriation.
The five direct contracting transport projects that have recently been granted investment licenses in the BT format have been thoroughly-selected, guarantee legal compliance and investment efficiency. They will also help Hanoi solve traffic jams, said Pham Quy Tien, head of the Office under the Hanoi People's Committee at a press meeting on June 26.The projects were granted investment certificates at the conference "Hanoi 2018 - Investment and Development Cooperation" held on June 17.
Head of Office of the Hanoi People's Committee Pham Quy Tien gave information about the investment projects in the form of BT
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Nguyen Huu Nghia, deputy director of the Department of Natural Resources and Environment, also clarified information saying that Hanoi does not proceed to auction the land fund for road construction but chooses to exchange land for roads in the BT format.
"There are many ways to invest in infrastructure, thus, we can choose the shortest and most economical one. Related agencies have considered auctioning land but it is not that simple," Nghia said.
Answering questions about how to calculate the price of land in BT projects, Nghia said that the land has been priced based existing legislation with objective methods.
The department also hired an independent unit to determine the price, which then reported to the evaluation council of the city.
"The whole process is strit, so the price of a BT project is never lower than that of a commercial project on the same location. There is no difference, as there are many agencies evaluating it, with closely-watched steps," Nghia stressed.
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