Public investment in 2015 to ensure on-scheduled completion

The on-scheduled completion of public investment plan in 2015 not only contributed to fulfill the 9^th provincial Party Resolution, 5-year socio-economic plan in 2011-2015 but also created the foundation for Binh Duong province to set up investment objectives and tasks to provincial state budget in 2016, helping the province to become a modern industrial province and a city directly under the central government by 2020.

To complete plans on schedule

Until the end of October, provincial completed volume of capital construction investment was VND3,135 billion, completing 62.7% target; allocation value was VND3,285 billion, reaching 65.7% target. Among these, eligible completed volume managed by the province was VND1,766 billion, reaching 61.5% target; eligible allocation value was VND1,766 billion, reaching 65.7% target. Eligible completed volume managed by districts, towns and city was VND480 billion, reaching 64.1% target; allocation value was VND1,766 billion, reaching 65.7% target.

Completing on time the 2015 public investment plan contributed to the fulfillment of socio-economic plan in the 2011-2015. Image: Tam Lap elementary and secondary school in Phu Giao district

In general, there was a large amount of projects launched in 2015. However, due to new regulations of Law on Public Investment and the Prime Minister’s directions on reviewing capital construction arrears, investors were tardy in checking and taking over, payment and settlement of projects, paying arrears in previous years causing low disbursement value.

According to Nguyen Thanh Truc, Director of Department of Planning – Investment, since the PPC’s modification of the 2015 public investment plan, all departments, sectors, and investors have attempted to fulfill important political duties to helping in successfully organizing the 10th Provincial Party Congress, thus disbursement value has grown slower than that of before the modification.

Nevertheless, some additional projects in the 2015 public investment plan had its progress speeded up to be soon finished and put into use in 2016. Some big projects were inaugurated to welcome the 10th Provincial Party Congress.

To meet development needs

Some provincial investment goals to state budget in 2016 are focusing on key constructions to form a socio-economic infrastructure meeting the rapid and sustainable development towards industrialization, modernization and urbanization; ensuring social welfare and security defense; fulfilling criteria of type-1 urban to build up the province as a modern industrialized province and a city directly under the Central by 2020.

Moreover, Binh Duong will give priorities to socio-economic infrastructure development, traffic constructions, especially, health, educational projects to ensure social welfare; investing strongly in water supply sewerage, waste water treatment projects, environmental protection and other civil works…

In 2016, public investment needs of all levels are enormous, especially the lottery fund, due to urgent needs for the development of provincial 1,500-bed hospital and schools, hospitals in some districts, towns and city. Therefore, the province will carry out the plan in accordance with new regulations of Law on Public Investment to ensure on-scheduled completion, curb  arising capital construction debts. Problems on compensation and site clearance must be completely solved.

Moreover, the province will carry out the preparation and allocation of investment for major projects, avoid spreading investment, focus on key projects. Another important duty is to reinforce supervision and inspection of capital construction investment to raise the sense of responsibility of investors, advisors and contractors; sanction wastes, losses of state capital.

Reported by P.Le – Translated by Ngoc Huynh