Hanoi (VNA) - Progress has been reported in three of 12loss-making projects under the management of the Ministry of Industry and Trade(MOIT) more than a year after the Government’s steering committee for loss-making projectsimplemented comprehensive solutions.

Deputy Prime Minister TruongHoa Binh, head of the steering committee, whochaired the 11th session in Hanoion August 19 said they would report to the Prime Minister to remove three of the 12 projects from the list inAugust.

With better operations, DAP Fertiliser 1 Hai Phong, BinhPhuoc Ethanoland Phu Tho Ethanol were considered tobe removed from the list of loss-making projects of the ministry.

Speaking to representatives of related ministries, the Party Central Committee’s EconomicCommittee, the Economic Committee of the National Assembly, and the Committee for Management of State Capital atEnterprises (CMSC) and leaders of corporations, Binh said the hard work isn't over.

There is much work to do to solve all the problems in the projects that wentbehind the progress at the deadline in the first half of 2021, he said.

He asked all ministries, branches, businesses and banks to uphold theirresponsibilities and to make more drastic efforts to speed up thehandling of those projects.

Solutions for the projects must be feasible on the principle that enterprisesand investors must be proactive and responsible for handling them according tothe market while the State won’t allocate more capital to the projects, Binh added.

He told thecorporations of the projects to take comprehensive responsibility for handlingtheir projects while ensuring compliance with regulations. He also told the CMSC to perform thesupervisory function of the owner's representative agency for the corporationswith such projects or enterprises in accordance with the law.

The Deputy PM askedinvestors and corporations of five projects with disputes regardingengineering, procurement and construction contracts to handle clearsolutions to report to Prime Minister Nguyen XuanPhuc this month,adding that the reports would be the basis for the committee to restructure,sell capital and divest from the projects and the relating corporations as wellas to clarify and handle violations for related organisations and individuals.

Binh also toldministries and agencies to hire independent consultants to have an objectiveassessment of the project value of projects that have not yet finalisedthe EPC contracts.

According to the MoIT, the total initial investment of the 12 projects was 43.6trillion VND thenthey were approved to increase to 63.6 trillion VND./.