Khanh Hoa plans to resolve 18 stalled BT projects

Khanh Hoa province is charting a course to untangle long-standing issues affecting 18 Build-Transfer (BT) projects, which have been mired in complications related to payment methods, legal frameworks, and the allocation of counterpart land. Provincial authorities announced on July 15 that a roadmap is being developed to address these stalled investments.

These 18 BT projects, which utilize state assets or land to compensate investors, fall into four categories based on the severity of their issues. A significant group of four projects, intended to be paid for with public assets, faces contractual problems that do not align with current laws. These include the Khanh Hoa Medical College (Phase 1), Nha Trang Vocational College (Phase 1), the headquarters of Khanh Hoa Radio and Television, and infrastructure for the Cam Ranh Peninsula Tourist Area.

For these projects, key issues remain unresolved: the final settlement of investment capital, the determination of the value of the land designated for payment, and the completion of financial obligations between the state and investors. For instance, the Khanh Hoa Medical College project, valued at over 109 billion VND, has faced delays in land handover to the investor for nearly nine years. The designated land plot, currently zoned for education and research, requires rezoning to urban residential land for investor exploitation.

Similarly, the Nha Trang Vocational College project, with a contract value exceeding 295 billion VND, is also stalled due to unresolved issues. These include determining the value of the payment land, legally separating the project, and accounting for additional costs incurred during its execution. Investors are urging the province to expedite land allocation and necessary zoning adjustments to prevent further asset wastage and to consider interest costs accrued due to payment delays.