Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc has decided to set up asteering committee that will resolve problems of 12 huge projects under theMinistry of Industry and Trade (MoIT).

The committee will be headed by Deputy PM Vuong Dinh Hue and will have membersfrom concerned ministries and sectors. It aims to minimise the risk of losinginvestment capital and affecting the human and financial resources of theState.

Five of the ineffective projects are those picked by the National Assemblydeputies during its second session last month. These include Dinh Vu PolyesterFibre Plant; Phuong Nam Pulp Production Plant; Phase 2 expansion of a plant runby Thai Nguyen Iron and Steel Corporation; Dung Quat Bio-Ethanol Plant; andNinh Binh Nitrogenous Fertiliser Plant.

These plants had investment capitals of between 1.9 trillion VND (83.37 millionUSD) and 12 trillion VND; the Ninh Binh plant had the highest investmentcapital.

Seven other projects have been added to this list: Ha Bac NitrogenousFertiliser Plant; DAP No.2 Lao Cai Fertiliser Production Plant; DAP No.2 Hai PhongFertiliser Production Plant; Binh Phuoc Ethanol Plant; Phu Tho Ethanol Plant;Dung Quat Shipbuilding Plant; and Quy Sa Mine Project, a joint venture betweenLao Cai Mineral Company and its partner.

At a meeting held at the Government Office in Hanoi on December 20, Hue saidthe committee would have to address the issues of these plants and projects,while adhering to Resolution No.5 of the 12th Party Central Committee’s fourth plenarymeeting. He asked committee members to study the National Assembly’sresolutions and the Government’s instructions on restructuring State-ownedenterprises.

The committee must solve the problems resolutely, promptly, systematically andunanimously, ensuring a drastic change in these projects by the end of 2017 andtheir completion by the end of 2018, the Deputy PM said, adding that thesolution would aid the country’s development.

All relevant ministries, sectors, businesses and project management boards willhave to honestly report the real situation so that the committee can give apractical solution. “The committee will assign concrete tasks and deadlines toevery ministry, sector, organisation, unit and individual. These projects willnot remain delayed or undeveloped,” Hue said.

The committee will check the progress of these projects, assess the situation,estimate the volume of loss, and send its report to the Prime Minister.

Projects that have production capability will be restructured in terms ofproduction, human resources and management. Those that cannot be restructuredwill be auctioned, divested, dissolved or declared bankrupt as per the laws, Huesaid. “The State will not use its budget to compensate for losses or supportthese factories and projects anymore.”

He has also asked the auditing agency and inspectors to investigate, define theresponsibilities and propose strict action against organisations andindividuals who have violated any law./.