Deputy Prime Minister Pham Gia Tuc has signed Official Dispatch No. 555/TTg-CN assigning the Vietnam Expressway Corporation (VEC) as the lead agency responsible for implementing the project in accordance with public investment regulations.
Under the directive, VEC is required to review and finalise the project’s scale and investment structure while proactively arranging funding sources. The Government’s support will be capped at 100 billion VND to ensure cost efficiency and prevent waste and misconduct.
The Ministry of Finance and VEC will bear full responsibility for the accuracy of the project’s data, investment proposals and overall efficiency, while the Ministry of Construction has been tasked with coordinating implementation in line with legal regulations.
According to VEC’s proposal, the approximately 50-kilometer expressway will be upgraded to a fully completed six-lane route by 2027, ensuring synchronization with adjacent sections including the Phap Van Cau Gie and Cao Bo Mai Son routes.
The Phu Thu Ninh Binh section is also planned to be expanded to six lanes, with completion targeted before 2030.
VEC is currently studying three investment options for the project, including a mixed public investment model with state budget participation, investment under the Law on Investment, and a build-operate-transfer (BOT) arrangement.