Focusing resources on public investment

Disbursement of public investment capital is the most important political task of all-level authorities and sectors. In 2024, the province has prioritized and focuses resources on public investment, implemented solutions to shorten the time of appraisal and approval, strived for the disbursement rate of public investment capital in 2024 to January 31, 2025 of each investor to reach at least 95% of the assigned plan.

Capital disbursement in 2023 being 2.4 times higher than that of 2022

In the difficult context of the economy, public investment in 2023 became a lifeline, creating motivation for the province’s short-term and long-term growth. The province implemented many national projects and ones with regional connectivity. The important and essential infrastructure preparation step created a competitive advantage in attracting investment and the local economy was gradually showing more positive signs.

Provincial People's Committee awards the certificates of merit to 11 individuals with outstanding achievements in implementing public investment last year

As reported, the province’s disbursement value of the 2023 public investment plan as of January 31, 2024 reached over VND 18.78 trillion, 2.4 times higher than that of 2022 or 154.2 % of the capital plan assigned by the Prime Minister, 86.1% of the capital plan assigned by the province. According to the assessment of Pham Trong Nhan, Director of provincial Department of Planning and Investment, the province’s results achieved in public investment in 2023 came from extremely timely and flexible direction by provincial Party Committee and People's Committee. Provincial leaders showed the spirit of accompanying investors, regularly inspected and giving direct guidance at works while setting up Zalo groups to directly grasp difficulties of the units for timely solutions. Besides, there were high efforts, determination, and close coordination of departments, sectors and investors.

In terms of the results of public investment in 2023, according to Tran Thi Minh Hanh, Head of the Economic and Budget Committee of provincial People's Council, in 2023, the province had many drastic solutions in directing and accelerating disbursement of investment capital  such as issuing directives to strengthen plan implementation, launching the emulation movement of "accelerating disbursement of public investment capital" right from the beginning of the year; focusing on removing problems, perfecting a legal framework for compensation and resettlement support...

Construction of key projects accelerated

2024 is the year to accelerate the construction of national key traffic projects. This is also the 4th year of the medium-term plan for the period of 2021-2025 and the year to start setting up the medium-term plan for the period of  2026-2030. Under the 2024 public investment plan, provincial People's Committee has required relevant departments and sectors to focus resources on public investment, shortening the time for appraising and approving projects.

A project on upgrading DT746 street from Tan Thanh intersection in North Tan Uyen district to Hoi Nghia intersection in Tan Uyen city is accelerating its progress and it is expected for completed in 2024

Investors should strengthen coordination with district-level People's Committees to promptly remove obstacles, choose right bottlenecks for settlement, bringing high efficiency. In case of exceeding their authority, they need to promptly report obstacles to higher authorities for consideration and settlement. Relevant units will also guide investors to prepare documents, research and develop sample documents for investors to refer to in order to shorten time and avoid wasting resources.

Provincial People's Committee has suggested units to flexibly and creatively organize on the basis of assigned functions and tasks; further strengthen the role and responsibility of heads of sectors and localities in directing and removing obstacles in public investment capital disbursement. Land price appraisal councils at all levels, working groups will further uphold results done over the past time, promptly guiding investors, land fund development centers and district-level People's Committees in setting up, appraising and completing land price documents for appraisal as a basis for approval.

To improve the quality and efficiency of site clearance and speed up the construction progress of public investment projects, at the conference, Mr. Nhan requested agencies and units to mobilize all resources for public investment; accelerate the implementation of key projects to ensure progress under the direction of provincial Party Standing Committee and commitment contents signed with provincial People's Committee. He suggested investors and project management boards to improve implementation capacity, be proactive to develop plans on disbursement for each project, assign specific responsibilities to relevant individuals and organizations.

According to Tran Hung Viet, Director of provincial Traffic Project Management Board, it is necessary for the province to enhance the responsibility of investors in quality management of traffic construction projects; improve the quality of design and construction work while strengthening social criticism and community supervision for key projects…

Reported by Phuong Le-Translated by Kim Tin