State Auditor has made the decision to investigate several large projects.
One of the projects being looked at is Vietnam Expressway Corporation's (VEC) Ho Chi Minh City – Long Thanh – Dau Giay expressway development, now under investigation by the State Auditor as of earlier this week.
VEC is under scrutiny for compliance with the law, management of investment and construction, general quality, the progress of the project, evaluation of economic efficiency, effectiveness of management and use of capital. The process should take 45 days and started on March 31.
Besides VEC, others getting audited are the Provincial People’s Committee of Long Thanh, Cam My, and Thong Nhat in Dong Nai province and the Provincial People’s Committee of District 9 Ho Chi Minh City. Appropriate use of funds for compensation and land clearing are being looked at.
The expressway operation began in the middle of February, with total investment for the first phase at VND20.63 trillion ($955.58 million). Of this, $276.8 million is accounted for by a commercial loan from Asian Development Bank, $640.3 million are Official Development Assistance loans from Japan International Corporate Agency and the rest is from the State.
The State Auditor has also decided to investigate the construction, management and use of investment capital involving other projects invested in by the Ministry of Transport or State agencies. These are the upgrade of National Highway 18, the construction of passenger terminal T2 at Noi Bai International Airport, and the construction of a road connecting the airport to Nhat Tan Bridge.
The Ministry of Transport is also one of seven ministries getting audited according to Decision No.39/QD by the State Auditor about the issue, management and use of government bonds in 2014.